Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11142954 2023-01-01 2023-12-31 11142954 2022-04-01 2022-12-31 11142954 2023-12-31 11142954 2022-12-31 11142954 c:Director3 2023-01-01 2023-12-31 11142954 c:Director4 2023-01-01 2023-12-31 11142954 d:PlantMachinery 2023-01-01 2023-12-31 11142954 d:PlantMachinery 2023-12-31 11142954 d:PlantMachinery 2022-12-31 11142954 d:CurrentFinancialInstruments 2023-12-31 11142954 d:CurrentFinancialInstruments 2022-12-31 11142954 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11142954 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11142954 d:ShareCapital 2023-12-31 11142954 d:ShareCapital 2022-12-31 11142954 d:RetainedEarningsAccumulatedLosses 2023-12-31 11142954 d:RetainedEarningsAccumulatedLosses 2022-12-31 11142954 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11142954 c:OrdinaryShareClass1 2023-12-31 11142954 c:OrdinaryShareClass1 2022-12-31 11142954 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11142954 c:OrdinaryShareClass2 2023-12-31 11142954 c:OrdinaryShareClass2 2022-12-31 11142954 c:FRS102 2023-01-01 2023-12-31 11142954 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11142954 c:FullAccounts 2023-01-01 2023-12-31 11142954 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11142954 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11142954










LEF TRADING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LEF TRADING LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 7


 
LEF TRADING LIMITED
REGISTERED NUMBER: 11142954

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
-
767,875

Debtors: amounts falling due within one year
 5 
24,234
1,525

Cash at bank and in hand
  
310,948
22,820

  
335,182
792,220

Creditors: amounts falling due within one year
 6 
(173,854)
(711,553)

Net current assets
  
 
 
161,328
 
 
80,667

Total assets less current liabilities
  
161,328
80,667

  

Net assets
  
161,328
80,667


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
161,228
80,567

  
161,328
80,667


Page 1

 
LEF TRADING LIMITED
REGISTERED NUMBER: 11142954
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr J L Knight
................................................
Mrs R M Knight
Director
Director


Date: 23 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LEF TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

LEF Trading Limited is a private company limited by shares and incorporated in England and Wales, registration number 11142954. The registered office is 80 Grove Lane, Holt, Norfolk, NR25 6ED.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Page 3

 
LEF TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks and work in progress

Stocks and development land are stated at the lower of cost and net realisable value, being the cost of purchase. The cost of work in progress includes all appropriate production overheads. Net realisable value is based on estimated selling price less the estimated costs of disposal.
At each reporting 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LEF TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
LEF TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
15,369



At 31 December 2023

15,369



Depreciation


At 1 January 2023
15,369



At 31 December 2023

15,369



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 6

 
LEF TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
187

Other debtors
7,169
176

Prepayments and accrued income
17,065
1,162

24,234
1,525



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
21,524
477

Corporation tax
21,750
150

Other creditors
87,975
687,139

Accruals and deferred income
42,605
23,787

173,854
711,553



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary A shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B shares of £1.00 each
50
50

100

100



8.


Related party transactions

At the year end £9,285 (2022 - £685,139) was owed to a company with common directors which is repayable on demand.
At the year end the directors were owed  £nil (2022 - £2,000) from the company which is repayable on demand.

 
Page 7