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COMPANY REGISTRATION NUMBER: 08847833
S & R Leach Limited
Filleted Unaudited Abridged Financial Statements
30 April 2023
S & R Leach Limited
Abridged Financial Statements
Year ended 30th April 2023
Contents
Page
Chartered certified accountants' report to the board of directors on the preparation of the unaudited statutory abridged financial statements of s & r leach limited
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
S & R Leach Limited
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of S & R Leach Limited
Year ended 30th April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of S & R Leach Limited for the year ended 30th April 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
19 January 2024
S & R Leach Limited
Abridged Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
19,201
25,579
Current assets
Stocks
39,563
20,577
Debtors
17,909
19,073
Cash at bank and in hand
3,288
9,553
--------
--------
60,760
49,203
Creditors: amounts falling due within one year
108,837
94,954
---------
--------
Net current liabilities
48,077
45,751
--------
--------
Total assets less current liabilities
( 28,876)
( 20,172)
--------
--------
Net liabilities
( 28,876)
( 20,172)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 28,878)
( 20,174)
--------
--------
Shareholders deficit
( 28,876)
( 20,172)
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30th April 2023 in accordance with Section 444(2A) of the Companies Act 2006.
S & R Leach Limited
Abridged Statement of Financial Position (continued)
30 April 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 19 January 2024 , and are signed on behalf of the board by:
Mr S Leach
Mrs R Leach
Director
Director
Company registration number: 08847833
S & R Leach Limited
Notes to the Abridged Financial Statements
Year ended 30th April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chesterfield Buildings, Westbourne Place, Bristol, BS8 1RU.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the company has net liabilities at 30th April 2023 and 2022. The future of the company is dependent upon the continued support of its creditors. The accounts do not include any provisions for liabilities that may arise if the creditors' support is withdrawn.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
£
Cost
At 1st May 2022
62,467
Additions
324
--------
At 30th April 2023
62,791
--------
Depreciation
At 1st May 2022
36,888
Charge for the year
6,702
--------
At 30th April 2023
43,590
--------
Carrying amount
At 30th April 2023
19,201
--------
At 30th April 2022
25,579
--------
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S Leach
( 42,811)
( 4,591)
( 47,402)
Mrs R Leach
( 42,812)
( 4,590)
( 47,402)
--------
-------
--------
( 85,623)
( 9,181)
( 94,804)
--------
-------
--------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S Leach
( 25,828)
( 16,983)
( 42,811)
Mrs R Leach
( 25,828)
( 16,984)
( 42,812)
--------
--------
--------
( 51,656)
( 33,967)
( 85,623)
--------
--------
--------
These loans are interest free and repayable on demand.