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REGISTERED NUMBER: 01253904 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LEICESTER SWITCH & CONTROL CO.
LIMITED

LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEICESTER SWITCH & CONTROL CO.
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr AG Collins
Mr RW Collins


SECRETARY: Mr RW Collins


REGISTERED OFFICE: Unit 3
Rothley Lodge Commercial Park
Loughborough Road
Rothley
Leicestershire
LE7 7NL


REGISTERED NUMBER: 01253904 (England and Wales)


SENIOR STATUTORY AUDITOR: Mark Harrison BA FCA


AUDITORS: Mark J Rees LLP Chartered Accountants
Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU


BANKERS: Lloyds TSB Bank plc
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
LE19 1WF

LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,586 23,170
37,586 23,170

CURRENT ASSETS
Debtors 6 1,213,686 1,207,060
Cash at bank 679,215 766,517
1,892,901 1,973,577
CREDITORS
Amounts falling due within one year 7 366,354 339,014
NET CURRENT ASSETS 1,526,547 1,634,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,564,133

1,657,733

PROVISIONS FOR LIABILITIES 1,348 508
NET ASSETS 1,562,785 1,657,225

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,562,685 1,657,125
SHAREHOLDERS' FUNDS 1,562,785 1,657,225

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:




Mr AG Collins - Director



Mr RW Collins - Director


LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Leicester Switch & Control Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts.

The company supplies products to customers from its manufacturing site, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, was amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of fair value less costs to sell and value-in-use, are recognised as impairment losses. Impairments of revalued assets are treated as a revaluation decrease. All other impairment losses are recognised in profit and loss.


LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 19,500
AMORTISATION
At 1 November 2023
and 31 October 2024 19,500
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 6,744 14,791 41,014 2,021 64,570
Additions - 2,188 24,099 576 26,863
Disposals - - (20,999 ) - (20,999 )
At 31 October 2024 6,744 16,979 44,114 2,597 70,434
DEPRECIATION
At 1 November 2023 3,391 14,791 22,496 722 41,400
Charge for year 1,349 228 10,280 590 12,447
Eliminated on disposal - - (20,999 ) - (20,999 )
At 31 October 2024 4,740 15,019 11,777 1,312 32,848
NET BOOK VALUE
At 31 October 2024 2,004 1,960 32,337 1,285 37,586
At 31 October 2023 3,353 - 18,518 1,299 23,170

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 145,935 137,457
Amounts owed by group undertakings 1,050,000 1,065,120
Other debtors 17,751 4,483
1,213,686 1,207,060

LEICESTER SWITCH & CONTROL CO.
LIMITED (REGISTERED NUMBER: 01253904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,269 13,449
Amounts owed to group undertakings 290,934 233,088
Taxation and social security 45,381 71,673
Other creditors 16,770 20,804
366,354 339,014

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Harrison BA FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants

9. ULTIMATE CONTROLLING PARTY

The parent company of Leicester Switch & Control Co. Limited is BPX Electro-Mechanical Co Limited.

In the directors' opinion, the company's ultimate parent company is BPX Group Holdings Limited. BPX Group Holdings Limited owns 100% of the issued share capital of BPX Group Limited which owns 100% of the issued share capital in BPX Electro-Mechanical Co Limited.

The group accounts can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.