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REGISTERED NUMBER: 04823687















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018

FOR

LEATHER SOFA COMPANY LIMITED

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEATHER SOFA COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2018







DIRECTORS: J S Dark
Mrs C A Dark
J Dark
P M Robey





SECRETARY: J S Dark





REGISTERED OFFICE: Unit 4 & 5
Beaufort Court
Beaufort Road
Swansea
SA6 8JG





REGISTERED NUMBER: 04823687





ACCOUNTANTS: HR Harris & Partners (2010) Limited
Chartered Accountants
44 St Helens Road
Swansea
West Glamorgan
SA1 4BB

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

BALANCE SHEET
31 JANUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 136,667 156,667
Tangible assets 5 46,816 61,931
183,483 218,598

CURRENT ASSETS
Stocks 960,959 1,040,959
Debtors 6 184,966 170,643
Cash at bank and in hand 180 67
1,146,105 1,211,669
CREDITORS
Amounts falling due within one year 7 881,968 956,555
NET CURRENT ASSETS 264,137 255,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

447,620

473,712

CREDITORS
Amounts falling due after more than one
year

8

57,169

22,624
NET ASSETS 390,451 451,088

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 389,451 450,088
SHAREHOLDERS' FUNDS 390,451 451,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

BALANCE SHEET - continued
31 JANUARY 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 13 November 2018 and were signed on its
behalf by:





J S Dark - Director


LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

1. STATUTORY INFORMATION

Leather Sofa Company Limited is a private company, limited by shares , registered in Not specified/Other. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.
Leasehold property - in accordance with the property
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, and have been valued by the directors.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Going concern
Based on the results shown in these financial statements together with their knowledge of the business and
post year end trading, the directors are confident that the going concern principle may be applied.

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 14 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2017
and 31 January 2018 400,000
AMORTISATION
At 1 February 2017 243,333
Amortisation for year 20,000
At 31 January 2018 263,333
NET BOOK VALUE
At 31 January 2018 136,667
At 31 January 2017 156,667

5. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 February 2017
and 31 January 2018 52,088 188,278 73,138 47,613 361,117
DEPRECIATION
At 1 February 2017 23,268 186,098 43,019 46,801 299,186
Charge for year 2,083 677 11,965 390 15,115
At 31 January 2018 25,351 186,775 54,984 47,191 314,301
NET BOOK VALUE
At 31 January 2018 26,737 1,503 18,154 422 46,816
At 31 January 2017 28,820 2,180 30,119 812 61,931


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 145,792 116,346
Other debtors 17,231 16,860
Prepayments 21,943 37,437
184,966 170,643

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 41,834 65,022
Hire purchase contracts 5,899 5,463
Trade creditors 216,072 331,583
Corporation tax 6,870 11,985
Social security and other taxes 6,950 19,011
VAT 25,801 11,446
Other Creditors 10,000 10,000
Directors' current accounts 562,043 491,021
Accrued expenses 6,499 11,024
881,968 956,555

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans - 1-2 years 41,113 670
Hire purchase contracts 16,056 21,954
57,169 22,624

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 28,558 49,052
Bank loans 54,389 16,640
Hire purchase contracts 21,955 27,417
104,902 93,109

10. RELATED PARTY DISCLOSURES

During the year rent in the sum of £138,333 (2017 : £138,333) was paid to Leather Sofa Co, a partnership
under the common control of the directors.

During the year the company received management fees in the sum of £12,000 (2017 : £11,000) from Leather
Sofa Co, a partnership under the common control of the directors.

Trade debtors includes an amount of £122,156 (2017 : £92,110) owing by a related company, DT Two Limited.
Transactions between the companies are all at arms' length.

The following amounts were owing to the directors at the year end; Mr J & Mrs C Dark £492,966 (2017 :
£425,109), and Mr J S Dark £69,076 (2017 : £65,910).

LEATHER SOFA COMPANY LIMITED (REGISTERED NUMBER: 04823687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

11. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the ultimate controlling parties are any shareholders who when taken together
hold a majority of the voting rights.