Leadermac UK LImited 04212410 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Sale of Machinery Digita Accounts Production Advanced 6.30.9574.0 true 04212410 2022-06-01 2023-05-31 04212410 2023-05-31 04212410 bus:OrdinaryShareClass1 2023-05-31 04212410 core:CurrentFinancialInstruments 2023-05-31 04212410 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04212410 core:OtherPropertyPlantEquipment 2023-05-31 04212410 bus:SmallEntities 2022-06-01 2023-05-31 04212410 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04212410 bus:FullAccounts 2022-06-01 2023-05-31 04212410 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 04212410 bus:RegisteredOffice 2022-06-01 2023-05-31 04212410 bus:Director1 2022-06-01 2023-05-31 04212410 bus:Director2 2022-06-01 2023-05-31 04212410 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 04212410 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04212410 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 04212410 core:VehiclesPlantMachinery 2022-06-01 2023-05-31 04212410 countries:England 2022-06-01 2023-05-31 04212410 2022-05-31 04212410 core:OtherPropertyPlantEquipment 2022-05-31 04212410 2021-06-01 2022-05-31 04212410 2022-05-31 04212410 bus:OrdinaryShareClass1 2022-05-31 04212410 core:CurrentFinancialInstruments 2022-05-31 04212410 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 04212410 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04212410

Leadermac UK LImited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Leadermac UK LImited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Leadermac UK LImited

Company Information

Directors

Stewart Chivers

Mrs Joanne Wright

Registered office

Vermont Houise
Bradley Lane
Standish
Wigan
Lancashire
WN6 0XF

Accountants

McGinty Demack Limited
Certified Chartered Accountant
Vermont House
Bradley Lane
Standish
Wigan
WN6 0XF

 

Leadermac UK LImited

(Registration number: 04212410)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,989

622

Current assets

 

Stocks

5

103,811

80,330

Debtors

6

1,067,060

905,175

Cash at bank and in hand

 

690,224

878,721

 

1,861,095

1,864,226

Creditors: Amounts falling due within one year

7

(181,359)

(288,934)

Net current assets

 

1,679,736

1,575,292

Total assets less current liabilities

 

1,681,725

1,575,914

Provisions for liabilities

(18,817)

(12,015)

Net assets

 

1,662,908

1,563,899

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

1,662,906

1,563,897

Shareholders' funds

 

1,662,908

1,563,899

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

 

Leadermac UK LImited

(Registration number: 04212410)
Balance Sheet as at 31 May 2023

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 Board on 8 December 2023 and signed on its behalf by:
 

.........................................
Stewart Chivers
Director

.........................................
Mrs Joanne Wright
Director

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
Vermont Houise
Bradley Lane
Standish
Wigan
Lancashire
WN6 0XF
Lancashire

These financial statements were authorised for issue by the Board on 8 December 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 Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2022

10,413

10,413

Additions

2,030

2,030

At 31 May 2023

12,443

12,443

Depreciation

At 1 June 2022

9,791

9,791

Charge for the year

663

663

At 31 May 2023

10,454

10,454

Carrying amount

At 31 May 2023

1,989

1,989

At 31 May 2022

622

622

5

Stocks

2023
£

2022
£

Other inventories

103,811

80,330

6

Debtors

Current

2023
£

2022
£

Trade debtors

115,400

113,764

Prepayments

10,000

10,000

Other debtors

941,660

781,411

 

1,067,060

905,175

 

Leadermac UK LImited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

42,152

15,161

Taxation and social security

54,878

59,441

Accruals and deferred income

10,897

10,897

Other creditors

73,432

203,435

181,359

288,934

Creditors: amounts falling due after more than one year

2023
£

2022
£

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2