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Registration number: SC686970

Leed Investments Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2022 to 31 August 2022

 

Leed Investments Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Leed Investments Ltd

Company Information

Director

Mr L Hargreaves

Registered office

 

39 Snowdrop Path
East Calder
EH53 0FN

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Leed Investments Ltd
for the Period Ended 31 August 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Leed Investments Ltd for the period ended 31 August 2022 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Leed Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Leed Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Leed Investments Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leed Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Leed Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Leed Investments Ltd. You consider that Leed Investments Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Leed Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

2 November 2023

 

Leed Investments Ltd

(Registration number: SC686970)
Balance Sheet as at 31 August 2022

Note

2022
£

2022
£

Current assets

 

Debtors

4

6,148

2,238

Cash at bank and in hand

 

15,196

40,107

 

21,344

42,345

Creditors: Amounts falling due within one year

5

(21,337)

(36,016)

Net assets

 

7

6,329

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

6

6,328

Shareholders' funds

 

7

6,329

For the financial period ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 November 2023
 

 

Leed Investments Ltd

(Registration number: SC686970)
Balance Sheet as at 31 August 2022

.........................................
Mr L Hargreaves
Director

 

Leed Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 31 August 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
39 Snowdrop Path
East Calder
EH53 0FN

These financial statements were authorised for issue by the director on 2 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company ceased trading on 31 August 2022 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value and making provisions in respect of contracts that have become onerous at the balance sheet date. No provision has been made for the future costs of terminating the business unless such costs were committed to at the reporting date.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The director has concluded that the company is not a going concern and, as disclosed within the basis of preparation accounting policy above, the financial statement have been prepared on a basis other than the going concern basis as the company ceased trading on 31 August 2022.

 

Leed Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 31 August 2022

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of management consultancy services. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Leed Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 31 August 2022

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 2 (2022 - 1).

4

Debtors

2022
£

2022
£

Other debtors

6,148

2,238

6,148

2,238

5

Creditors

Creditors: amounts falling due within one year

2022
£

2022
£

Due within one year

Taxation and social security

16,269

12,415

Accruals and deferred income

5,068

4,157

Other creditors

-

19,444

21,337

36,016

 

Leed Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 31 August 2022

6

Share capital

Allotted, called up and fully paid shares

 

2022

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

7

Related party transactions

The company operates a loan account with the director, Mr L Hargreaves.

During the year, the company advanced loans totalling £25,443 to the director. At the year end, the balance due from the director was £5,999 (2022 - £19,444 due to the director). This loan is unsecured, interest free and has no fixed repayment terms.