Company Registration No. SC731875 (Scotland)
Leys Holdings Ltd
Unaudited accounts
for the year ended 31 March 2024
Leys Holdings Ltd
Unaudited accounts
Contents
Leys Holdings Ltd
Company Information
for the year ended 31 March 2024
Company Number
SC731875 (Scotland)
Registered Office
54 Hallcroft Park
Ratho
Newbridge
Midlothian
EH28 8SF
Accountants
Virtus Accounting Limited
20 Churchfields
Widnes
Cheshire
WA8 9RP
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Leys Holdings Ltd
for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Leys Holdings Ltd for the year ended
31 March 2024 as set out on pages
5 -
8 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 https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Virtus Accounting Limited
Chartered Certified Accountants
20 Churchfields
Widnes
Cheshire
WA8 9RP
15 August 2024
Leys Holdings Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
18
431
Net current assets
64,634
50,539
Total assets less current liabilities
64,636
50,541
Creditors: amounts falling due after more than one year
(696)
(696)
Called up share capital
4
4
Profit and loss account
63,936
49,841
Shareholders' funds
63,940
49,845
For the year ending 31 March 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by
R Leys
Director
Company Registration No. SC731875
Leys Holdings Ltd
Notes to the Accounts
for the year ended 31 March 2024
Leys Holdings Ltd is a private company, limited by shares, registered in Scotland, registration number SC731875. The registered office is 54 Hallcroft Park, Ratho, Newbridge, Midlothian, EH28 8SF.
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.
The comparative period to 31 March 2023 is not entirely comparable as this is a period from the date of incorporation, 9 May 2022, and so not a full year.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets are initially measured at cost and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing arrangement, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets categorised as receivable within one year are not amortised.
Financial assets 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.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Basic financial liabilities that are classified as debt, are initially recognised at cost unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Leys Holdings Ltd
Notes to the Accounts
for the year ended 31 March 2024
A current tax liability is recognised for the tax payable on the taxable profit of the current period.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Investments in subsidiaries are included at cost less impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
4
Investments
Subsidiary undertakings
Valuation at 1 April 2023
2
Valuation at 31 March 2024
2
Amounts falling due within one year
Accrued income and prepayments
316
106
6
Investments held as current assets
2024
2023
Unlisted investments
64,300
50,000
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
Leys Holdings Ltd
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan to director repayable on demand
1
-
1
-
Interest free loan to director repayable on demand
1
-
1
-
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).