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REGISTERED NUMBER: 05265177 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LEONARD JAY ONE LIMITED

LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

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

Chartered Accountants' Report 7

LEONARD JAY ONE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M B Jacobs
Mrs T J Jacobs





SECRETARY: M B Jacobs





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
London
NW3 6LH





REGISTERED NUMBER: 05265177 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 900,070 662,028

CURRENT ASSETS
Stocks 433,621 429,194
Debtors 5 428,497 253,517
Cash at bank and in hand 187,145 199,360
1,049,263 882,071
CREDITORS
Amounts falling due within one year 6 760,965 493,178
NET CURRENT ASSETS 288,298 388,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,188,368

1,050,921

CREDITORS
Amounts falling due after more than one
year

7

(472,075

)

(177,509

)

PROVISIONS FOR LIABILITIES (150,968 ) -
NET ASSETS 565,325 873,412

CAPITAL AND RESERVES
Called up share capital 42,500 42,500
Non Distributable Reserves 182,905 -
Retained earnings 339,920 830,912
SHAREHOLDERS' FUNDS 565,325 873,412

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.

LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





M B Jacobs - Director


LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Leonard Jay One 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 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.
Short leasehold - Over the life of the lease
Improvements to property - Over the life of the lease
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

With the exception of Freehold Property, Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Freehold property is held at market value and is subject to an annual review of valuation and impairment.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purpose on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Stock has been impaired in these Accounts because of the reduction in net realisable value resulting from the effect of Covid on trading conditions.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 18 ) .

LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST OR VALUATION
At 1 January 2023 656,127 2,296 321,416
Disposals - - (318,696 )
Revaluations 243,873 - -
At 31 December 2023 900,000 2,296 2,720
DEPRECIATION
At 1 January 2023 - 2,296 321,099
Charge for year - - 317
Eliminated on disposal - - (318,696 )
At 31 December 2023 - 2,296 2,720
NET BOOK VALUE
At 31 December 2023 900,000 - -
At 31 December 2022 656,127 - 317

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 83,475 2,312 1,065,626
Disposals - - (318,696 )
Revaluations - - 243,873
At 31 December 2023 83,475 2,312 990,803
DEPRECIATION
At 1 January 2023 78,409 1,794 403,598
Charge for year 5,066 448 5,831
Eliminated on disposal - - (318,696 )
At 31 December 2023 83,475 2,242 90,733
NET BOOK VALUE
At 31 December 2023 - 70 900,070
At 31 December 2022 5,066 518 662,028

Cost or valuation at 31 December 2023 is represented by:

Improvements
Freehold Short to
property leasehold property
£    £    £   
Valuation in 2023 243,873 - -
Cost 656,127 2,296 2,720
900,000 2,296 2,720

LEONARD JAY ONE LIMITED (REGISTERED NUMBER: 05265177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2023 - - 243,873
Cost 83,475 2,312 746,930
83,475 2,312 990,803

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,080 -
Other debtors 31,813 14,584
Directors' loan accounts 281,175 203,695
Tax 65,935 -
Prepayments and accrued income 27,494 35,238
428,497 253,517

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 189,900 70,325
Trade creditors 314,639 43,318
Tax - 65,935
Social security and other taxes 7,837 8,649
Pension 1,463 1,389
VAT 9,779 76,434
Other creditors 231,627 221,085
Accruals and deferred income 5,720 6,043
760,965 493,178

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 189,649 70,575
Bank loans - 2-5 years 282,426 106,934
472,075 177,509

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LEONARD JAY ONE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit & Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leonard Jay One Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Leonard Jay One Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leonard Jay One Limited and state those matters that we have agreed to state to the Board of Directors of Leonard Jay One Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leonard Jay One Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leonard Jay One Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leonard Jay One Limited. You consider that Leonard Jay One Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leonard Jay One Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


17 September 2024