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REGISTERED NUMBER: 07790106 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Leighton Menswear Limited

Leighton Menswear Limited (Registered number: 07790106)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Leighton Menswear Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr I Leighton
Mrs W Leighton





REGISTERED OFFICE: 11 Osborne Avenue
Jesmond
Newcastle upon Tyne
Tyne and Wear
NE2 1JQ





REGISTERED NUMBER: 07790106 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Leighton Menswear Limited (Registered number: 07790106)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 14,955 15,247
14,955 15,247

CURRENT ASSETS
Debtors 7 77,981 14,623
Cash at bank 292,685 359,244
370,666 373,867
CREDITORS
Amounts falling due within one year 8 (101,591 ) (111,682 )
NET CURRENT ASSETS 269,075 262,185
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,030

277,432

PROVISIONS FOR LIABILITIES (3,739 ) (2,897 )
NET ASSETS 280,291 274,535

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 280,289 274,533
SHAREHOLDERS' FUNDS 280,291 274,535

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2024 and were signed on its behalf by:




Mr I Leighton - Director



Mrs W Leighton - Director


Leighton Menswear Limited (Registered number: 07790106)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Leighton Menswear 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services in the ordinary nature of the business. Turnover is shown net of Value Added Tax, of goods and services provided to customers. Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill, being the amounts paid in connection with acquisitions of business in 2011 and 2013, is being amortised evenly over its estimated useful life of 5 years.

In the opinion of the directors this represents the period over which the goodwill is effective.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant and machinery etc.- 25% on reducing balance, 15% on reducing balance and 10% on
reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss 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.


Leighton Menswear Limited (Registered number: 07790106)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 270,546
AMORTISATION
At 1 December 2022
and 30 November 2023 270,546
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 35,808
Additions 1,807
At 30 November 2023 37,615
DEPRECIATION
At 1 December 2022 20,561
Charge for year 2,099
At 30 November 2023 22,660
NET BOOK VALUE
At 30 November 2023 14,955
At 30 November 2022 15,247

Leighton Menswear Limited (Registered number: 07790106)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 47,143 300
Other debtors 30,838 14,323
77,981 14,623

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 36,470 25,032
Taxation and social security 36,932 44,581
Other creditors 28,189 42,069
101,591 111,682

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr I Leighton and Mrs W Leighton
Balance outstanding at start of year - -
Amounts advanced 147,661 -
Amounts repaid (122,757 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,904 -

The above loan is unsecured, interest free and repayable on demand.