REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
The Leafy Elephant Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
The Leafy Elephant Limited |
The Leafy Elephant Limited (Registered number: 11487865) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
The Leafy Elephant Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 9 Market House |
21 Market Place |
Wokingham |
Berkshire |
RG40 1AP |
The Leafy Elephant Limited (Registered number: 11487865) |
Statement of Financial Position |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 and authorised for issue on |
The Leafy Elephant Limited (Registered number: 11487865) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
The Leafy Elephant Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Long Leasehold - 50 year straight line |
Plant and machinery - 25% reducing balance |
Fixtures and fittings - 20% reducing balance |
Computer equipment - 3 year straight line |
SDLT on lease - 10 year straight line |
Government grants |
During the period the company received government grants as a result of the ongoing Covid-19 pandemic, in accordance with FRS102 section 24 the company has adopted the performance model as the accounting policy for recognition of such grants. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Leases |
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. |
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. |
Share capital |
Ordinary shares are classified as equity. |
Preference shares are classified in accordance with FRS 102 paragraph 22.13 and included within liabilities and equity. The liability element is calculated as the present value of the future contractual cash flows, discounted at a market rate of interest for a similar liability that does not have the associated equity component. The interest expense will be calculated using the effective interest method and charged to profit or loss each year.The equity element is calculated as any residual value. |
The Leafy Elephant Limited (Registered number: 11487865) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
SDLT on | Long | Plant and |
lease | leasehold | machinery |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
Disposals | ( |
) |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Other debtors |
The Leafy Elephant Limited (Registered number: 11487865) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.7.23 | 31.7.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | CALLED UP SHARE CAPITAL |
Equity Share Capital |
Number: |
Class: |
Nominal Value: |
£ |
400 | Ordinary A | £1 | 400 |
200 | Ordinary B | £1 | 200 |
200 | Ordinary C | £1 | 200 |
200 | Ordinary D | £1 | 200 |
1,000 |
Preference Share Capital |
Number: | Class: | £ |
499,000 | Preference | 360,566 |
360,566 |
Total Share Capital | 361,566 |
The company issued 499,000 preference shares redeemable at the issue's discretion. These shares are classified within liabilities and equity in accordance with FRS102 paragraph 22.13. These shares pay a non-discretionary annual dividend of 0.5%. On a winding-up, the holders have priority before all other classes of shares to receive repayment of capital plus any arrears of dividend. The holders have no voting rights. |
10. | RELATED PARTY DISCLOSURES |
During the period the directors maintained a loan account with the company. At the period end the company owed the directors £254,975 (2022 - £204,980). This loan is interest free, repayable on demand and shown within other creditors. |