Registered number
07109505
Leaf Care Services Ltd
Filleted Accounts
31 March 2023
Leaf Care Services Ltd
Registered number: 07109505
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,451 42,575
Current assets
Debtors 4 970,236 1,651,897
Cash at bank and in hand 1,855 398,140
972,091 2,050,037
Creditors: amounts falling due within one year 5 (592,143) (572,412)
Net current assets 379,948 1,477,625
Total assets less current liabilities 391,399 1,520,200
Creditors: amounts falling due after more than one year 6 (22,639) (32,806)
Provisions for liabilities - (6,316)
Net assets 368,760 1,481,078
Capital and reserves
Called up share capital 2 2
Profit and loss account 368,758 1,481,076
Shareholder's funds 368,760 1,481,078
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
C McDonnell
Director
Approved by the board on 13 March 2024
Leaf Care Services Ltd
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.
Grants
Grants from all sources, including Government agencies and similar bodies are recognised when they are receivable and it can be reasonably assumed the conditions attached to them will be complied with. Unless the grant is awarded for the purchase of fixed assets, the whole amount is recognised in income when receivable or, if later, when any performance conditions have been met. Those awarded for the purchase of fixed assets are included in deferred income on the balance sheet and recognised in income on a systematic basis over the useful economic life of the underlying assets.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 101 111
The average number of employees is based on employees seconded by an associated company within the Leaf Care Group.
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 182,116 35,950 218,066
Additions - 1,800 1,800
Disposals (7,777) - (7,777)
At 31 March 2023 174,339 37,750 212,089
Depreciation
At 1 April 2022 140,682 34,809 175,491
Charge for the year 29,860 1,141 31,001
On disposals (5,854) - (5,854)
At 31 March 2023 164,688 35,950 200,638
Net book value
At 31 March 2023 9,651 1,800 11,451
At 31 March 2022 41,434 1,141 42,575
4 Debtors 2023 2022
£ £
Trade debtors 278,573 118,536
Amounts owed by group undertakings and undertakings in which the company has a participating interest 691,663 1,533,361
970,236 1,651,897
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 80,479 9,990
Trade creditors 12,791 48,215
Amounts owed to group undertakings and undertakings in which the company has a participating interest 13,352 12,115
Taxation and social security costs 133,699 80,952
Other creditors 351,822 421,140
592,143 572,412
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,639 32,806
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 306,395 379,696
8 Other information
Leaf Care Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4
St Benedicts View
Grapes Hill
Norwich
NR2 4HH
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