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REGISTERED NUMBER: 10624028 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LEOSCES LTD

LEOSCES LTD (REGISTERED NUMBER: 10624028)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEOSCES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mrs M J Kantaria





REGISTERED OFFICE: 7 St. John's Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 10624028 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

LEOSCES LTD (REGISTERED NUMBER: 10624028)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,264 741
Investment property 5 560,235 560,235
561,499 560,976

CURRENT ASSETS
Debtors 6 1,823 752
Cash at bank 11,601 14,236
13,424 14,988
CREDITORS
Amounts falling due within one year 7 498,931 505,323
NET CURRENT LIABILITIES (485,507 ) (490,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,992

70,641

PROVISIONS FOR LIABILITIES 9,901 9,670
NET ASSETS 66,091 60,971

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 41,184 41,184
Retained earnings 24,807 19,687
66,091 60,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





Mrs M J Kantaria - Director


LEOSCES LTD (REGISTERED NUMBER: 10624028)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Leosces Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
The financial statements have been prepared on a going concern basis notwithstanding the company's net current liabilities position as at the year end. The directors of the company have provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Turnover
Turnover represents the gross rent receivable in the normal course of company's business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 3 years straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

LEOSCES LTD (REGISTERED NUMBER: 10624028)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 1,000 2,221 3,221
Additions - 1,379 1,379
At 31 March 2023 1,000 3,600 4,600
DEPRECIATION
At 1 April 2022 1,000 1,480 2,480
Charge for year - 856 856
At 31 March 2023 1,000 2,336 3,336
NET BOOK VALUE
At 31 March 2023 - 1,264 1,264
At 31 March 2022 - 741 741

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 560,235
NET BOOK VALUE
At 31 March 2023 560,235
At 31 March 2022 560,235

Investment properties of the company were valued by the Director on an open market basis.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 50,845
Cost 509,390
560,235

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,112 -
Other debtors 711 752
1,823 752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 815 -
Other creditors 498,116 505,323
498,931 505,323

LEOSCES LTD (REGISTERED NUMBER: 10624028)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 41,184

9. RELATED PARTY DISCLOSURES

Included within other creditors as at year end is £494,335 (2022: £498,992), an amount owed to the director of the company. The amount owed is unsecured and there are no specific terms to the repayment of this amount.