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Company Registration No. 5886762 (England and Wales)
Wrapped in Leather Limited Unaudited accounts for the year ended 31 August 2023
Wrapped in Leather Limited Unaudited accounts Contents
Page
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Wrapped in Leather Limited Company Information for the year ended 31 August 2023
Director
Martin Kinsey
Company Number
5886762 (England and Wales)
Registered Office
85 Kay Brow Ramsbottom Bury BL0 9AY England
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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Wrapped in Leather Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
20,000 
20,000 
Tangible assets
20,397 
20,467 
40,397 
40,467 
Current assets
Inventories
94,500 
102,000 
Debtors
- 
246 
Cash at bank and in hand
- 
3,888 
94,500 
106,134 
Creditors: amounts falling due within one year
(182,883)
(172,539)
Net current liabilities
(88,383)
(66,405)
Total assets less current liabilities
(47,986)
(25,938)
Creditors: amounts falling due after more than one year
(13,993)
(18,886)
Provisions for liabilities
Deferred tax
(75)
(88)
Net liabilities
(62,054)
(44,912)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(62,064)
(44,922)
Shareholders' funds
(62,054)
(44,912)
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2024 and were signed on its behalf by
Martin Kinsey Director Company Registration No. 5886762
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Wrapped in Leather Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Wrapped in Leather Limited is a private company, limited by shares, registered in England and Wales, registration number 5886762. The registered office is 85 Kay Brow, Ramsbottom, Bury, BL0 9AY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Nil
Fixtures & fittings
15% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Wrapped in Leather Limited Notes to the Accounts for the year ended 31 August 2023
4
Intangible fixed assets
Total 
£ 
Cost
At 1 September 2022
20,000 
At 31 August 2023
20,000 
Amortisation
At 1 September 2022
- 
At 31 August 2023
- 
Net book value
At 31 August 2023
20,000 
At 31 August 2022
20,000 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2022
26,284 
At 31 August 2023
26,284 
Depreciation
At 1 September 2022
5,817 
Charge for the year
70 
At 31 August 2023
5,887 
Net book value
At 31 August 2023
20,397 
At 31 August 2022
20,467 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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