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Registered number: 08136254
Lescott Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Xeinadin South Essex Limited
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08136254
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 163,118 163,118
163,118 163,118
CURRENT ASSETS
Debtors 5 79,797 110,994
Cash at bank and in hand 13,193 9,151
92,990 120,145
Creditors: Amounts Falling Due Within One Year 6 (22,904 ) (21,544 )
NET CURRENT ASSETS (LIABILITIES) 70,086 98,601
TOTAL ASSETS LESS CURRENT LIABILITIES 233,204 261,719
Creditors: Amounts Falling Due After More Than One Year 7 (122,185 ) (158,559 )
NET ASSETS 111,019 103,160
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 110,919 103,060
SHAREHOLDERS' FUNDS 111,019 103,160
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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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steven Lescott FCCA
Director
04/08/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lescott Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08136254 . The registered office is Cumberland House, 24-28 Baxter Avenue, Southend-On-Sea, Essex, SS2 6HZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the valuation of gross recurring fees in respect of the directors previous accounting practice.
Amortisation is not provided as an annual review of the valuation is carried out and any diminution in the value accounted for at that point.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not provided
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on reducing balance
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2024 163,116 6,389 169,505
As at 31 March 2025 163,116 6,389 169,505
Depreciation
As at 1 April 2024 - 6,387 6,387
As at 31 March 2025 - 6,387 6,387
Net Book Value
As at 31 March 2025 163,116 2 163,118
As at 1 April 2024 163,116 2 163,118
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 300 -
Other debtors 34,497 65,994
34,797 65,994
Due after more than one year
Other debtors 45,000 45,000
79,797 110,994
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 1,408
Bank loans and overdrafts 10,826 4,444
Debentures 4,512 4,512
Other creditors 1,466 1,007
Taxation and social security 6,100 10,173
22,904 21,544
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 4,854 14,881
Debentures 26,747 34,075
Other creditors 90,584 109,603
122,185 158,559
8. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Bank loans and overdrafts 42,085 43,030
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Controlling Party
The company's ultimate controlling party is Steven Lescott FCCA by virtue of his ownership of 100% of the issued share capital in the company.
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