Registered number
01073507
LEAKCLIFF PROPERTIES LTD
Filleted Accounts
31 May 2024
LEAKCLIFF PROPERTIES LTD
Registered number: 01073507
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Stocks 400,000 400,000
Debtors 4 307,794 307,794
Cash at bank and in hand 209 209
708,003 708,003
Creditors: amounts falling due within one year 5 (174,413) (174,413)
Net current assets 533,590 533,590
Total assets less current liabilities 533,590 533,590
Creditors: amounts falling due after more than one year 6 (30,674,628) (30,674,628)
Net liabilities (30,141,038) (30,141,038)
Capital and reserves
Called up share capital 2 2
Profit and loss account (30,141,040) (30,141,040)
Shareholders' funds (30,141,038) (30,141,038)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Pulver
Director
Approved by the board on 7 October 2024
LEAKCLIFF PROPERTIES LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Office equipment
£
Cost
At 1 June 2023 4,135
At 31 May 2024 4,135
Depreciation
At 1 June 2023 4,135
At 31 May 2024 4,135
Net book value
At 31 May 2024 -
4 Debtors 2024 2023
£ £
Other debtors 307,794 307,794
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 174,413 174,413
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 30,674,628 30,674,628
7 Related party transactions
Other creditors falling due after one year include the following amounts due to the following directors:-
A R and L M Pulver (2023 and 2024) £30,323,528.
D Caplan (2023 and 2024) £150,000.
There are no fixed terms as to interest or repayment of these amounts.
8 Controlling party
The company is a wholly-owned subsidiary of Greater London Securities Ltd, a company incorporated in England, and its registered office is Crown House, 44 Bellmount Wood Avenue, Watford WD17 3BW.
9 Other information
LEAKCLIFF PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Crown House
44 Bellmount Wood Avenue
Watford WD17 3BW
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