Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-31false2021-02-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08376919 2021-02-01 2022-01-31 08376919 2020-02-01 2021-01-31 08376919 2022-01-31 08376919 2021-01-31 08376919 c:Director1 2021-02-01 2022-01-31 08376919 d:OfficeEquipment 2021-02-01 2022-01-31 08376919 d:OfficeEquipment 2022-01-31 08376919 d:OfficeEquipment 2021-01-31 08376919 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 08376919 d:CurrentFinancialInstruments 2022-01-31 08376919 d:CurrentFinancialInstruments 2021-01-31 08376919 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 08376919 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 08376919 d:ShareCapital 2022-01-31 08376919 d:ShareCapital 2021-01-31 08376919 d:RetainedEarningsAccumulatedLosses 2022-01-31 08376919 d:RetainedEarningsAccumulatedLosses 2021-01-31 08376919 c:OrdinaryShareClass1 2021-02-01 2022-01-31 08376919 c:OrdinaryShareClass1 2022-01-31 08376919 c:OrdinaryShareClass1 2021-01-31 08376919 c:FRS102 2021-02-01 2022-01-31 08376919 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 08376919 c:FullAccounts 2021-02-01 2022-01-31 08376919 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 08376919 2 2021-02-01 2022-01-31 08376919 6 2021-02-01 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08376919









LEAD AD VENTURES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

 
LEAD AD VENTURES LTD
REGISTERED NUMBER: 08376919

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 3 
(30)
38

Investments
 4 
55,949
55,949

  
55,919
55,987

Current assets
  

Debtors: amounts falling due within one year
 5 
50,000
-

Cash at bank and in hand
  
198,223
258,794

  
248,223
258,794

Creditors: amounts falling due within one year
 6 
(7,615)
(11,900)

Net current assets
  
 
 
240,608
 
 
246,894

Total assets less current liabilities
  
296,527
302,881

  

Net assets
  
296,527
302,881


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
296,427
302,781

  
296,527
302,881


Page 1

 
LEAD AD VENTURES LTD
REGISTERED NUMBER: 08376919
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






J E Rees
Director

Date: 10 September 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

The principal activity of Lead Ad Ventures Ltd ('the Company') is that of providing marketing and consultancy services.
The Company is a private company limited by shares and is incorporated in England.
The Registered Office address is 35 Ballards Lane, London N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2021
3,933



At 31 January 2022

3,933



Depreciation


At 1 February 2021
3,895


Charge for the year on owned assets
68



At 31 January 2022

3,963



Net book value



At 31 January 2022
(30)



At 31 January 2021
38

Page 6

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2021
55,949



At 31 January 2022
55,949





5.


Debtors

2022
2021
£
£


Other debtors
50,000
-

50,000
-



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
3,217
3,271

Other taxation and social security
229
5,252

Other creditors
3,109
2,317

Accruals and deferred income
1,060
1,060

7,615
11,900



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100


Page 7

 
LEAD AD VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

8.


Related party transactions

Included within other creditors is a balance of £3,109 (2021: £2,318) owed to J E Rees, the director. This balance is unsecured and interest free, with no fixed repyament terms.

 
Page 8