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REGISTERED NUMBER: 08606694 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

L.E.F.F. UK LIMITED

L.E.F.F. UK LIMITED (REGISTERED NUMBER: 08606694)






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


L.E.F.F. UK LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: L F Folco
T&W Directors Ltd





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 08606694 (England and Wales)






L.E.F.F. UK LIMITED (REGISTERED NUMBER: 08606694)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,623 1,995
Investments 5 9,896 9,476
13,519 11,471

CURRENT ASSETS
Debtors 6 1,669,761 492,001
Prepayments and accrued income 197,010 -
Cash at bank 15,767 14,127
1,882,538 506,128
CREDITORS
Amounts falling due within one year 7 2,545,116 1,068,754
NET CURRENT LIABILITIES (662,578 ) (562,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(649,059

)

(551,155

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (649,159 ) (551,255 )
(649,059 ) (551,155 )

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





T&W Directors Ltd - Director


L.E.F.F. UK LIMITED (REGISTERED NUMBER: 08606694)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

L.E.F.F. UK 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciated at 33.33% straight line

Financial instruments
Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


L.E.F.F. UK LIMITED (REGISTERED NUMBER: 08606694)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investment
Investments are included in the balance sheet at cost less any provision for impairment. The Company assess investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. If such an indication of impairment exists, the Company makes an estimate of the recoverable amount of the investment. If the recoverable amount is less than the value of the investment, the investment is written down to the recoverable amount. An impairment loss is recognised immediately in the profit and loss account. If the impairment is not considered to be a permanent diminution in value it may reverse in a future period to the extent that it is no longer considered necessary.

Going concern
The Shareholder has confirmed that it will continue to provide the financial resources necessary for the Company to meet its financial commitments as they fall due for at least twelve months from the date of approval of these financial statements. Therefore the directors consider it appropriate that the financial statements are prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 26,254
Additions 5,434
At 31 March 2023 31,688
DEPRECIATION
At 1 April 2022 24,259
Charge for year 3,806
At 31 March 2023 28,065
NET BOOK VALUE
At 31 March 2023 3,623
At 31 March 2022 1,995

L.E.F.F. UK LIMITED (REGISTERED NUMBER: 08606694)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 9,476
Impairments 420
At 31 March 2023 9,896
NET BOOK VALUE
At 31 March 2023 9,896
At 31 March 2022 9,476

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 197,335 163,850
Other debtors 1,472,426 328,151
1,669,761 492,001

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,356 19,840
Amounts owed to group undertakings - 176,239
Taxation and social security 3,087 1,220
Other creditors 2,537,673 871,455
2,545,116 1,068,754

8. RELATED PARTY DISCLOSURES

The balance due to L.E.F.F.Global LLP at the end of the year was £80,143 (2022: £143,722). During the year, the company charged management fees of £195,983 (2022: £164,724) to L.E.F.F. Global LLP which is included in the accrued income in the year end balance. L.E.F.F UK Limited is a member of L.E.F.F Global LLP.

The balance due from the director at the end of the year debit balance was £1,103,646 (2022: £862,108). This amount is non-interest bearing and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The company's ultimate beneficial owner is Mr L.F Folco by virtue of his 100% shareholding.