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Registration number: 10124155

Leadermac Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Leadermac Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Leadermac Holdings Limited

Company Information

Director

Mrs Joanne Wright

Registered office

Vermont House
Bradley Lane
Standish
Lancashire
WN6 0XF

Accountants

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

 

Leadermac Holdings Limited

(Registration number: 10124155)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

3,017,000

3,017,000

Current assets

 

Debtors

5

148,000

100,000

Cash at bank and in hand

 

160

374

 

148,160

100,374

Creditors: Amounts falling due within one year

6

(1,982,036)

(1,873,343)

Net current liabilities

 

(1,833,876)

(1,772,969)

Net assets

 

1,183,124

1,244,031

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,183,024

1,243,931

Shareholders' funds

 

1,183,124

1,244,031

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.

Director's 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 director acknowledges her 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.

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 8 December 2023
 

 

Leadermac Holdings Limited

(Registration number: 10124155)
Balance Sheet as at 31 May 2023

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

 

Leadermac Holdings 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 House
Bradley Lane
Standish
Lancashire
WN6 0XF

These financial statements were authorised for issue by the director 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Leadermac Holdings Limited

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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.

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.

 

Leadermac Holdings Limited

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

3

Staff numbers

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

4

Investments

2023
£

2022
£

Investments in joint ventures

3,017,000

3,017,000

Joint ventures

£

Cost

At 1 June 2022

3,017,000

Provision

Carrying amount

At 31 May 2023

3,017,000

At 31 May 2022

3,017,000

5

Debtors

Current

2023
£

2022
£

Other debtors

148,000

100,000

 

Leadermac Holdings Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

90,778

92,333

Other creditors

1,891,258

1,781,010

1,982,036

1,873,343

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

25

25

25

25

Ordinary B Shares of £1 each

75

75

75

75

 

100

100

100

100