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Company Registration No. 06043035 (England and Wales)
Living Leaves Limited Unaudited accounts for the year ended 31 March 2024
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Living Leaves Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Living Leaves Limited for the year ended 31 March 2024 as set out on pages 3 - 6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Living Leaves Limited, as a body, in accordance with the terms of our engagement letter dated 24 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of Living Leaves Limited and state those matters that we have agreed to state to the Board of Directors of Living Leaves Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Living Leaves Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Living Leaves Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Living Leaves Limited. You consider that Living Leaves 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 accounts of Living Leaves 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 accounts.
Dove Accountants, Tax & Business Advisors Chartered Certified Accountants Suite 2, The Wellington 78 High Street Uttoxeter Staffordshire ST14 7JD 25 September 2024
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Living Leaves Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
41,181 
53,780 
Current assets
Debtors
52,744 
70,609 
Cash at bank and in hand
190,317 
192,343 
243,061 
262,952 
Creditors: amounts falling due within one year
(89,171)
(59,694)
Net current assets
153,890 
203,258 
Total assets less current liabilities
195,071 
257,038 
Creditors: amounts falling due after more than one year
(43,776)
(57,062)
Provisions for liabilities
Deferred tax
(10,295)
(13,445)
Net assets
141,000 
186,531 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
140,900 
186,431 
Shareholders' funds
141,000 
186,531 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by
A J Anderson Director Company Registration No. 06043035
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Living Leaves Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Living Leaves Limited is a private company, limited by shares, registered in England and Wales, registration number 06043035. The registered office is c/o Dove Accountants Limited, Suite 2, The Wellington, 78 High Street, Uttoxeter, ST14 7JD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Living Leaves Limited Notes to the Accounts for the year ended 31 March 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
56,939 
68,414 
125,353 
Additions
1,301 
- 
1,301 
At 31 March 2024
58,240 
68,414 
126,654 
Depreciation
At 1 April 2023
40,185 
31,388 
71,573 
Charge for the year
4,643 
9,257 
13,900 
At 31 March 2024
44,828 
40,645 
85,473 
Net book value
At 31 March 2024
13,412 
27,769 
41,181 
At 31 March 2023
16,754 
37,026 
53,780 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
19,801 
26,401 
- 5 -
Living Leaves Limited Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,619 
3,887 
Other debtors
26,125 
66,722 
52,744 
70,609 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,323 
5,192 
Obligations under finance leases and hire purchase contracts
7,964 
7,394 
Taxes and social security
50,037 
28,438 
Other creditors
25,847 
18,670 
89,171 
59,694 
Obligations under finance leases and hire purchase contracts are secured over the borrowed asset.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,748 
36,071 
Obligations under finance leases and hire purchase contracts
13,028 
20,991 
43,776 
57,062 
Obligations under finance leases and hire purchase contracts are secured over the borrowed asset.
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
250 
1,140 
Later than one year and not later than five years
11,163 
- 
11,413 
1,140 
9
Average number of employees
During the year the average number of employees was 13 (2023: 11).
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