LEEDS COMMERCIAL LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

BHP LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As covered in the Strategic Report and is typical in this sector, the balance sheet shows net current liabilities due to the inclusion of future hire purchase payments. The directors are confident that future rental incomes from hired-out vehicles, or the sales receipts receivable from vehicles no longer required, will exceed the hire purchase obligations falling due at any time. In addition, the directors have access to numerous unutilised and agreed lending facilities and substantial unencumbered assets due to the level of equity in the balance sheet. The Directors have also considered the impact of the current economic environment and are confident in the ability of the business to generate sufficient cash to mitigate the risk of rising interest rates and inflationary pressure in the supply chain on cash flow. Consequently the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “The company remains confident about future business prospects and invested £30.2M in new vehicles. The fleet size steadily increased to end the year at 2,106 vehicles (2023 1,993) up 5.7%. The original cost of the fleet increased 5.4% to £139.7M (2023 - £132.5M)”
• “The number of second-hand fleet vehicles sold reduced 9% year-on-year and represented 19% of the fleet. The high cost of new vehicles in the marketplace sustained high selling values of second-hand equipment and margins on disposal remained better than the Board had expected, but they were still lower than last year. The combination of lower volumes and margins compared with last year reduced profits on disposal by £1.1M year on year.”
• “Gross profit declined £3.0M year on year to £16.4M (2023 - £19.4M) due mainly to the increase in fleet depreciation, up £1.1M, lower profits on fleet disposals, down £1.1M, and higher employment costs, up £0.7M. Gross profit % fell by 7.1% to 39.7%.”
• “The fall in gross profit is reflected in the profit before tax which decreased year on year by £3.1M to £8.7M. After-tax profits decreased by £2.6M to £6.5M. Dividends of £3.0M were declared and net assets increased by £3.5M to £52.1M.”
• “Post balance sheet events The higher level of borrowing at the year-end released funds which were held as cash pending the acquisition of the freehold property adjacent to the existing premises at Patrick Green, Leeds. The premises were acquired on 4 November 2024 at a price of £5.0M.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -0.3%

  £41,580,633 → £41,444,509

• Cash

  +123.4%

  £5,363,439 → £11,982,326

  highest in 3 filed years

• Net assets

  +7.2%

  £48,663,599 → £52,155,341

  highest in 3 filed years

• Employees

  +7.5%

  147 → 158

  highest in 3 filed years

• Operating profit

  -21.9%

  £13,854,155 → £10,818,483

• Profit before tax

  -26.4%

  £11,872,392 → £8,737,565

• Wages

  +5.8%

  £6,910,597 → £7,310,552

  highest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers