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REGISTERED NUMBER: 10155315 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

LEOPARD CAPITAL 1 LIMITED

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEOPARD CAPITAL 1 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: A Kirchner
A F P Fordyce





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 10155315 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 12,240,000 15,975,000

CURRENT ASSETS
Debtors 5 160,179 461,932
Cash at bank and in hand 296,414 356,565
456,593 818,497
CREDITORS
Amounts falling due within one year 6 533,256 451,718
NET CURRENT (LIABILITIES)/ASSETS (76,663 ) 366,779
TOTAL ASSETS LESS CURRENT LIABILITIES 12,163,337 16,341,779

CREDITORS
Amounts falling due after more than one
year

7

(8,397,878

)

(11,749,211

)

PROVISIONS FOR LIABILITIES (665,516 ) (893,657 )
NET ASSETS 3,099,943 3,698,911

CAPITAL AND RESERVES
Called up share capital 9 300 300
Fair value reserve 10 2,837,200 3,809,801
Retained earnings 262,443 (111,190 )
SHAREHOLDERS' FUNDS 3,099,943 3,698,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

BALANCE SHEET - continued
30 APRIL 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





A F P Fordyce - Director


LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Leopard Capital 1 Limited 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.

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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property
The company carries its investment property at fair value. Any fair value gains arising are not realised profits. The method and significant assumptions used to determine the fair value of investment property are further explained in Note 5.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property represents the company's portfolio of commercial property. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.


LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 15,975,000
Disposals (2,895,000 )
Revaluations (840,000 )
At 30 April 2023 12,240,000
NET BOOK VALUE
At 30 April 2023 12,240,000
At 30 April 2022 15,975,000

Investment property represents the company's portfolio of commercial property. Investment property was valued at 30 April 2021 at fair value (open market basis). The location and class of investment property held by the company were among the factors that were taken into consideration when determining fair value.

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2019 150,000
Valuation in 2020 360,742
Valuation in 2021 4,192,716
Valuation in 2023 (840,000 )
Cost 8,376,542
12,240,000

If investment property had not been revalued would have been included at the following historical cost:

2023 2022
£    £   
Cost 11,271,542 11,271,542

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 138,745 343,028
Other debtors 21,434 118,904
160,179 461,932

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 140,000 280,000
Trade creditors - 36
Taxation and social security 67,312 31,650
Other creditors 325,944 140,032
533,256 451,718

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 3,897,878 7,249,211
Other creditors 4,500,000 4,500,000
8,397,878 11,749,211

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 3,337,878 6,129,211

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,037,878 7,529,211
Other loans 4,500,000 4,500,000
8,537,878 12,029,211

The loans are secured on the properties to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300

LEOPARD CAPITAL 1 LIMITED (REGISTERED NUMBER: 10155315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


10. RESERVES

Fair value reserve
This reserve is used to record gains in the fair value of investment properties and losses to the extent that such a loss relates to a previous gain on the same asset. It is also used to record the corresponding deferred tax (charge)/credit on fair value changes in investment property.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
A F P Fordyce
Balance outstanding at start of year 21,518 -
Amounts advanced - 21,518
Amounts repaid (21,518 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 21,518

12. RELATED PARTY DISCLOSURES

Included within creditors due within one year is an amount owing nil to the directors (2022 - £nil).