2023-01-012023-12-312023-12-31false08994740LEACANN ELECTRIC COMPANY 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LEACANN ELECTRIC COMPANY LIMITED

Registered Number
08994740
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

LEACANN ELECTRIC COMPANY LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CURTIS, Nicholas Simon
MCKELLAR, James Robert

Registered Address

7 St. James's Gardens
London
W11 4RB

Registered Number

08994740 (England and Wales)
LEACANN ELECTRIC COMPANY LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,343,1012,398,125
2,343,1012,398,125
Current assets
Debtors274,845297,264
Cash at bank and on hand36,12312,955
310,968310,219
Creditors amounts falling due within one year4(317,890)(243,723)
Net current assets (liabilities)(6,922)66,496
Total assets less current liabilities2,336,1792,464,621
Provisions for liabilities(314,767)(235,383)
Net assets2,021,4122,229,238
Capital and reserves
Called up share capital31,00131,001
Profit and loss account1,990,4112,198,237
Shareholders' funds2,021,4122,229,238
The financial statements were approved and authorised for issue by the Board of Directors on 4 March 2024, and are signed on its behalf by:
MCKELLAR, James Robert
Director
Registered Company No. 08994740
LEACANN ELECTRIC COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 232,750,9042,750,904
At 31 December 232,750,9042,750,904
Depreciation and impairment
At 01 January 23352,779352,779
Charge for year55,02455,024
At 31 December 23407,803407,803
Net book value
At 31 December 232,343,1012,343,101
At 31 December 222,398,1252,398,125
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables104,754121,500
Taxation and social security150,52996,984
Accrued liabilities and deferred income62,60725,239
Total317,890243,723
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.