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Registration number: 12805660

Leonid Group Corporate Governance Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Leonid Group Corporate Governance Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Leonid Group Corporate Governance Ltd

Company Information

Directors

Jamie Michael Browne

James Mitchell

Registered office

Unit 5 Ducketts Wharf
South Street
Bishop's Stortford
Herts
CM23 3AR

Accountants

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

 

Leonid Group Corporate Governance Ltd

(Registration number: 12805660)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,601

2,618

Current assets

 

Debtors

5

109,069

83,823

Cash at bank and in hand

 

141,105

142,682

 

250,174

226,505

Creditors: Amounts falling due within one year

6

(136,132)

(72,974)

Net current assets

 

114,042

153,531

Net assets

 

115,643

156,149

Capital and reserves

 

Called up share capital

112

100

Retained earnings

115,531

156,049

Shareholders' funds

 

115,643

156,149

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

 

Leonid Group Corporate Governance Ltd

(Registration number: 12805660)
Balance Sheet as at 31 December 2023

.........................................
Jamie Michael Browne
Director

.........................................
James Mitchell
Director

 

Leonid Group Corporate Governance Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5 Ducketts Wharf
South Street
Bishop's Stortford
Herts
CM23 3AR
England

These financial statements were authorised for issue by the Board on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Leonid Group Corporate Governance Ltd

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight-line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Leonid Group Corporate Governance Ltd

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Leonid Group Corporate Governance Ltd

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

4,070

4,070

At 31 December 2023

4,070

4,070

Depreciation

At 1 January 2023

1,452

1,452

Charge for the year

1,017

1,017

At 31 December 2023

2,469

2,469

Carrying amount

At 31 December 2023

1,601

1,601

At 31 December 2022

2,618

2,618

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

107,696

82,003

Amounts owed by related parties

7

75

75

Prepayments

 

1,298

1,745

   

109,069

83,823

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

25,462

19,596

Taxation and social security

94,257

51,593

Accruals and deferred income

6,086

1,530

Other creditors

10,327

255

136,132

72,974

 

Leonid Group Corporate Governance Ltd

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

7

Related party transactions

Loans to related parties

2023

Parent
£

Total
£

At start of period

75

75

At end of period

75

75

2022

Parent
£

Total
£

At start of period

75

75

At end of period

75

75

Terms of loans to related parties

Leonid Group Corporate Governance Ltd loan to Leonid Group Ltd (£75 as at 31/12/2023)