Registered number
SC259446
Leaps & Bounds (Scotland) Limited
Filleted Accounts
31 March 2023
Leaps & Bounds (Scotland) Limited
Registered number: SC259446
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,780 5,076
Current assets
Debtors 4 358,561 38,443
Cash at bank and in hand 26,327 67,473
384,888 105,916
Creditors: amounts falling due within one year 5 (233,371) (47,454)
Net current assets 151,517 58,462
Total assets less current liabilities 158,297 63,538
Provisions for liabilities (965) (965)
Net assets 157,332 62,573
Capital and reserves
Called up share capital 2 2
Profit and loss account 157,330 62,571
Shareholders' funds 157,332 62,573
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Asif Akhtar
Director
Approved by the board on 28 August 2023
Leaps & Bounds (Scotland) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 19
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2022 35,613
Additions 2,361
At 31 March 2023 37,974
Depreciation
At 1 April 2022 30,537
Charge for the year 657
At 31 March 2023 31,194
Net book value
At 31 March 2023 6,780
At 31 March 2022 5,076
4 Debtors 2023 2022
£ £
Trade debtors 37,170 37,170
Amounts owed by group undertakings and undertakings in which the company has a participating interest 312,797 -
Other debtors 8,594 1,273
358,561 38,443
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,500 17,500
Accrued charges 4,700 7,210
Taxation and social security costs 28,107 17,269
Other creditors 183,064 5,475
233,371 47,454
6 Related party transactions
A number of transations were undertaken with the parent company, First Adventure Childcare Ltd (SC655175) following the business and property purchase by the parent company. At the balance sheet date, a balance of £312,797 was owed by the parent company. The loan carries no interest charge and the loan is not repayable upon demand.

The parent company also administers the bank loan and a management fee of £23,500 was charged to the Profit & Loss account.
7 Controlling party
The company was wholly owned by First Adventure Childcare Ltd (SC655175), and which has common directorships.
8 Other information
Leaps & Bounds (Scotland) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
235 Kilmarnock Road
Shawlands
Glasgow
G41 3JF
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