COMPANY REGISTRATION NUMBER:
SC254910
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Joseph Leckie & Sons (Contracts) Limited |
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Filleted Unaudited Financial Statements |
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Joseph Leckie & Sons (Contracts) Limited |
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Statement of Financial Position |
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31 March 2025
Current assets
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Debtors |
5 |
304,041 |
481,823 |
|
Cash at bank and in hand |
55,907 |
10,382 |
|
--------- |
--------- |
|
359,948 |
492,205 |
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|
|
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Creditors: amounts falling due within one year |
6 |
185,995 |
319,402 |
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--------- |
--------- |
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Net current assets |
173,953 |
172,803 |
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--------- |
--------- |
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Total assets less current liabilities |
173,953 |
172,803 |
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--------- |
--------- |
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Net assets |
173,953 |
172,803 |
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--------- |
--------- |
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|
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Capital and reserves
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Called up share capital |
10,000 |
10,000 |
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Profit and loss account |
163,953 |
162,803 |
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--------- |
--------- |
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Shareholders funds |
173,953 |
172,803 |
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--------- |
--------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 September 2025
, and are signed on behalf of the board by:
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G Leckie |
D Leckie |
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Director |
Director |
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Company registration number:
SC254910
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Joseph Leckie & Sons (Contracts) Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Allanshaw Industrial Estate, Peacock Cross, Hamilton, ML3 9BG.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised. Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments. Amounts due under construction contracts were previously included within Stocks. These are now included within Other debtors. The prior period has been restated. The amount included is unchanged.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
25
(2024:
25
).
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
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Trade debtors |
271,559 |
233,143 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
28,618 |
106,484 |
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Other debtors |
3,864 |
142,196 |
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--------- |
--------- |
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304,041 |
481,823 |
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--------- |
--------- |
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6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
228 |
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Trade creditors |
98,597 |
219,977 |
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Corporation tax |
380 |
– |
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Social security and other taxes |
85,198 |
97,227 |
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Other creditors |
1,820 |
1,970 |
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--------- |
--------- |
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185,995 |
319,402 |
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--------- |
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7.
Related party transactions
Control:- The company was under the control of Mr Leckie throughout the current and previous year. Mr Leckie is the managing director and shareholder of Joseph Leckie & Sons Limited, the parent company. Transactions:- The company paid a management charge amounting to £260,000 (2024 - £105,000) to Joseph Leckie & Sons Limited, the parent company.
8.
Controlling party
The company's ultimate parent company is Joseph leckie & Sons Ltd, a company incorporated in Scotland.