Company registration number 02634876 (England and Wales)
THE LEIGHTON-POPE ORGANISATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
THE LEIGHTON-POPE ORGANISATION LIMITED
COMPANY INFORMATION
Director
Mr. C. Leighton-Pope
Company number
02634876
Registered office
Ramillies House
2 Ramillies Street
London
W1F 7LN
Accountants
F Winter & Co. LLP
Ramillies House
2 Ramillies Street
London
W1F 7LN
THE LEIGHTON-POPE ORGANISATION LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
THE LEIGHTON-POPE ORGANISATION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
27 AUGUST 2023
27 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
5
1,565
2,795
Current assets
Trade and other receivables
6
1,364,955
883,482
Cash and cash equivalents
161,327
120,227
1,526,282
1,003,709
Current liabilities
7
(896,481)
(866,677)
Net current assets
629,801
137,032
Total assets less current liabilities
631,366
139,827
Non-current liabilities
8
(22,500)
(32,500)
Net assets
608,866
107,327
Equity
Called up share capital
100
100
Retained earnings
608,766
107,227
Total equity
608,866
107,327
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 27 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 September 2024
Mr. C. Leighton-Pope
Director
Company Registration No. 02634876
THE LEIGHTON-POPE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 AUGUST 2023
- 2 -
1
Company information
The Leighton-Pope Organisation Limited is a private company limited by shares incorporated in England and Wales with registration number 02634876. The registered office is Ramillies House, 2 Ramillies Street, London, W1F 7LN.
2
Compliance with accounting standard
The financial statements have been prepared in accordance with the provision of FRS102 including section 1A for small entities. There were no material departures from the standard.
3
Accounting policies
3.1
Accounting convention
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
3.2
Revenue
The company revenue comprises of commission receivable for services rendered net of VAT.
3.3
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
10% per annum on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
3.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost 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.
THE LEIGHTON-POPE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 AUGUST 2023
3
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing difference.
During the period, no provision has been made for deferred tax as there were no such gains recognised for the period on any assets.
3.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
4
THE LEIGHTON-POPE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 AUGUST 2023
- 4 -
5
Property, plant and equipment
Plant and machinery etc
£
Cost
At 28 August 2022 and 27 August 2023
19,940
Depreciation and impairment
At 28 August 2022
17,145
Depreciation charged in the year
1,230
At 27 August 2023
18,375
Carrying amount
At 27 August 2023
1,565
At 27 August 2022
2,795
6
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
853,952
256,863
Corporation tax recoverable
69,636
106,587
Other receivables
441,367
520,032
1,364,955
883,482
Other receivables include debts amounting to £108,951 (2022: £83,951) due from a company under common control.
7
Current liabilities
2023
2022
£
£
Bank loans
10,000
10,000
Trade payables
539,674
584,961
Corporation tax
83,647
61,212
Other taxation and social security
56,874
4,991
Other payables
206,286
205,513
896,481
866,677
Trade payables include debts amounting to £426,650 (2022: £516,650) due to a company under common control and is repayable on demand.
Other payables include debts amounting to £182,111 (2022: £182,111) due to companies under common control and are repayable on demand.
THE LEIGHTON-POPE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 AUGUST 2023
- 5 -
8
Non-current liabilities
2023
2022
£
£
Bank loans and overdrafts
22,500
32,500
9
Controlling party
The company is under the control of the director, Mr. C. Leighton-Pope, by virtue of this shareholding.
10
Directors' transactions
The company charged interest at 3.5% per annum to Mr. C Leighton-Pope on amount advanced to him during the year. The amount outstanding as at 27 August 2023 was £213,258 (2022: £187,044). This loan was still outstanding nine months after the accounting year end.