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REGISTERED NUMBER: NI620062 (Northern Ireland)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Leap Property Investments Limited

Leap Property Investments Limited (Registered number: NI620062)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leap Property Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr D Scallon





REGISTERED OFFICE: 1 Maple Hill
Belfast
Co. Antrim
BT10 0PZ





REGISTERED NUMBER: NI620062 (Northern Ireland)





ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ

Leap Property Investments Limited (Registered number: NI620062)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245 326
Investments 5 6,749 6,749
Investment property 6 465,000 465,000
471,994 472,075

CURRENT ASSETS
Debtors 7 328,316 376,954
Cash at bank - 6
328,316 376,960
CREDITORS
Amounts falling due within one year 8 55,786 49,632
NET CURRENT ASSETS 272,530 327,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

744,524

799,403

CREDITORS
Amounts falling due after more than one
year

9

136,088

156,343
NET ASSETS 608,436 643,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 608,336 642,960
SHAREHOLDERS' FUNDS 608,436 643,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Leap Property Investments Limited (Registered number: NI620062)

Balance Sheet - continued
31 December 2023


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 and authorised for issue by the director and authorised for issue on 13 August 2024 and were signed by:





Mr D Scallon - Director


Leap Property Investments Limited (Registered number: NI620062)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Leap Property Investments Limited is a private company, limited by shares , registered in Northern Ireland. 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Leap Property Investments Limited (Registered number: NI620062)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 5,530
DEPRECIATION
At 1 January 2023 5,204
Charge for year 81
At 31 December 2023 5,285
NET BOOK VALUE
At 31 December 2023 245
At 31 December 2022 326

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 150 6,599 6,749
NET BOOK VALUE
At 31 December 2023 150 6,599 6,749
At 31 December 2022 150 6,599 6,749

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 465,000
NET BOOK VALUE
At 31 December 2023 465,000
At 31 December 2022 465,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 121,858
Valuation in 2018 1,340
Valuation in 2019 (11,627 )
Valuation in 2021 (110,222 )
Valuation in 2022 25,054
Cost 438,597
465,000

Leap Property Investments Limited (Registered number: NI620062)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 328,316 376,954

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,561 38,345
Trade creditors 2,797 -
Taxation and social security 5,505 4,094
Other creditors 2,923 7,193
55,786 49,632

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 136,088 156,343

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 160,837 181,440

11. RELATED PARTY DISCLOSURES

An amount of £523 is owed to the directors at year end and is included within other creditors in note 9. Total dividend paid to the directors during the period was £1,000 (2022: £10,000).

The investment shown in Note 6 relates to a 50% interest in Belfast Urban Developments Limited and a 100% interest in a wholly owned subsidiary company, Ravav Limited.