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LAYZELL ENGINEERING (DERBY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAYZELL ENGINEERING (DERBY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: B Newton





REGISTERED OFFICE: 12a Darley Abbey Mills
Darley Abbey
Derby
DE22 1DZ





REGISTERED NUMBER: 06006027 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 125,009 60,851
125,009 60,851

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 448,428 617,003
Cash at bank and in hand 83,986 58,034
537,414 680,037
CREDITORS
Amounts falling due within one year 7 189,185 303,026
NET CURRENT ASSETS 348,229 377,011
TOTAL ASSETS LESS CURRENT LIABILITIES 473,238 437,862

CREDITORS
Amounts falling due after more than one
year

8

(94,004

)

(138,119

)

PROVISIONS FOR LIABILITIES 10 (31,300 ) (15,200 )
NET ASSETS 347,934 284,543

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 347,932 284,541
SHAREHOLDERS' FUNDS 347,934 284,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 July 2025 and were signed by:





B Newton - Director


LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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


1. STATUTORY INFORMATION

Layzell Engineering (Derby) 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 presentation currency of the financial statements is the Pound 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 33,350
AMORTISATION
At 1 January 2024
and 31 December 2024 33,350
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 62,100 14,978 - 1,245 78,323
Additions - - 79,680 1,049 80,729
At 31 December 2024 62,100 14,978 79,680 2,294 159,052
DEPRECIATION
At 1 January 2024 7,302 9,981 - 189 17,472
Charge for year 5,480 500 10,481 110 16,571
At 31 December 2024 12,782 10,481 10,481 299 34,043
NET BOOK VALUE
At 31 December 2024 49,318 4,497 69,199 1,995 125,009
At 31 December 2023 54,798 4,997 - 1,056 60,851

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 60,900 - 60,900
Additions - 79,680 79,680
At 31 December 2024 60,900 79,680 140,580
DEPRECIATION
At 1 January 2024 7,232 - 7,232
Charge for year 5,367 10,481 15,848
At 31 December 2024 12,599 10,481 23,080
NET BOOK VALUE
At 31 December 2024 48,301 69,199 117,500
At 31 December 2023 53,668 - 53,668

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,146 141,931
Other debtors 340,282 475,072
448,428 617,003

LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,550 67,234
Hire purchase contracts 20,050 7,070
Trade creditors 60,521 55,271
Taxation and social security 57,384 64,697
Other creditors 12,680 108,754
189,185 303,026

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,212 90,545
Hire purchase contracts 83,792 47,574
94,004 138,119

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 11,144

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 103,842 54,644

The hire purchase liability is secured over the asset it relates to.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 31,300 15,200

Deferred
tax
£   
Balance at 1 January 2024 15,200
Provided during year 16,100
Balance at 31 December 2024 31,300

LAYZELL ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 06006027)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1.00 2 2

12. RELATED PARTY DISCLOSURES

During the period, the company was charged £10,000 (2023: £15,000) in management charges by M-Tech Engineering (Derby) Limited.