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Registration number: 13869083

LEC Utilities Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

LEC Utilities Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

LEC Utilities Ltd

Company Information

Director

Luca Marcuccio

Registered office

47 Redwood Drive
Huddersfield
HD2 1PW

 

LEC Utilities Ltd

(Registration number: 13869083)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

28,558

11,562

Current assets

 

Debtors

5

49,678

33,264

Cash at bank and in hand

 

40,323

50,855

 

90,001

84,119

Creditors: Amounts falling due within one year

6

(46,842)

(20,850)

Net current assets

 

43,159

63,269

Net assets

 

71,717

74,831

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

71,716

74,830

Shareholders' funds

 

71,717

74,831

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 June 2025
 

.........................................
Luca Marcuccio
Director

 

LEC Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The address of its registered office is:
47 Redwood Drive
Huddersfield
HD2 1PW

These financial statements were authorised for issue by the director on 12 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

LEC Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 1).

 

LEC Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

15,000

15,000

Additions

29,640

29,640

Disposals

(15,000)

(15,000)

At 31 January 2025

29,640

29,640

Depreciation

At 1 February 2024

3,438

3,438

Charge for the year

3,044

3,044

Eliminated on disposal

(5,400)

(5,400)

At 31 January 2025

1,082

1,082

Carrying amount

At 31 January 2025

28,558

28,558

At 31 January 2024

11,562

11,562

5

Debtors

Current

2025
£

2024
£

Trade debtors

1,627

9,263

Other debtors

48,051

24,001

 

49,678

33,264

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

13,680

8,370

Trade creditors

 

31,232

840

Taxation and social security

 

1,929

11,640

Other creditors

 

1

-

 

46,842

20,850

 

LEC Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

13,680

8,370