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REGISTERED NUMBER: 06763883 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Leo Enterprises Ltd

Leo Enterprises Ltd (Registered number: 06763883)






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


Leo Enterprises Ltd

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: L E Owens
A Richards





REGISTERED OFFICE: The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 06763883 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Leo Enterprises Ltd (Registered number: 06763883)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,314 1,261
Investment property 5 134,000 119,025
135,314 120,286

CURRENT ASSETS
Debtors 6 7,880 11,338
Cash at bank 4,602 42,721
12,482 54,059
CREDITORS
Amounts falling due within one year 7 4,425 27,321
NET CURRENT ASSETS 8,057 26,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,371

147,024

PROVISIONS FOR LIABILITIES 3,183 379
NET ASSETS 140,188 146,645

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 12,506 364
Retained earnings 127,582 146,181
SHAREHOLDERS' FUNDS 140,188 146,645

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 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.

Leo Enterprises Ltd (Registered number: 06763883)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





L E Owens - Director


Leo Enterprises Ltd (Registered number: 06763883)

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

1. STATUTORY INFORMATION

Leo Enterprises Ltd 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 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 - 3 years
Computer equipment - 3 years

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.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Leo Enterprises Ltd (Registered number: 06763883)

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

2. ACCOUNTING POLICIES - continued

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 - 1,474 4,013 5,487
Additions 496 1,214 - 1,710
At 31 December 2023 496 2,688 4,013 7,197
DEPRECIATION
At 1 January 2023 - 1,064 3,162 4,226
Charge for year 164 667 826 1,657
At 31 December 2023 164 1,731 3,988 5,883
NET BOOK VALUE
At 31 December 2023 332 957 25 1,314
At 31 December 2022 - 410 851 1,261

Leo Enterprises Ltd (Registered number: 06763883)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 119,025
Revaluations 14,975
At 31 December 2023 134,000
NET BOOK VALUE
At 31 December 2023 134,000
At 31 December 2022 119,025

Investment property was valued by the directors and represents fair value on the property at the year end.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 465
Valuation in 2023 14,975
Cost 118,560
134,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,639 10,944
Other debtors 2,241 394
7,880 11,338

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 158 152
Taxation and social security 876 23,565
Other creditors 3,391 3,604
4,425 27,321

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023 364
Revaluation reserve 12,142

At 31 December 2023 12,506