Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08359439 Mrs Vania Casini Mr Marc Kurt Ostheimer true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08359439 2023-01-31 08359439 2024-01-31 08359439 2023-02-01 2024-01-31 08359439 frs-core:CurrentFinancialInstruments 2024-01-31 08359439 frs-core:PlantMachinery 2024-01-31 08359439 frs-core:PlantMachinery 2023-01-31 08359439 frs-core:ShareCapital 2024-01-31 08359439 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08359439 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08359439 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08359439 frs-bus:SmallEntities 2023-02-01 2024-01-31 08359439 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08359439 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08359439 frs-bus:OrdinaryShareClass1 2023-02-01 2024-01-31 08359439 frs-bus:OrdinaryShareClass1 2024-01-31 08359439 1 2023-02-01 2024-01-31 08359439 frs-bus:Director1 2023-02-01 2024-01-31 08359439 frs-countries:EnglandWales 2023-02-01 2024-01-31 08359439 2022-01-31 08359439 2023-01-31 08359439 2022-02-01 2023-01-31 08359439 frs-core:CurrentFinancialInstruments 2023-01-31 08359439 frs-core:ShareCapital 2023-01-31 08359439 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 08359439 frs-bus:OrdinaryShareClass1 2022-02-01 2023-01-31
Registered number: 08359439
Leomat Marine Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Adbell Advisory Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 08359439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 173,898 173,898
173,898 173,898
Creditors: Amounts Falling Due Within One Year 5 (227,039 ) (219,625 )
NET CURRENT ASSETS (LIABILITIES) (227,039 ) (219,625 )
TOTAL ASSETS LESS CURRENT LIABILITIES (53,141 ) (45,727 )
NET LIABILITIES (53,141 ) (45,727 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (53,241 ) (45,827 )
SHAREHOLDERS' FUNDS (53,141) (45,727)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Vania Casini
Director
24/10/2024
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Leomat Marine Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08359439 . The registered office is Birchin Court, 20 Birchin Lane, London, EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.4.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The motor yacht is not being depreciated.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determinewhether there is any indication that those assets have suffered an impairment loss. If any such indication exists, therecoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverableamount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, theestimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset for which the estimates of futurecash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, thecarrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss isrecognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in whichcase theimpairment loss is treated as a revaluation decrease.
...CONTINUED
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2.4. - continued
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased toapply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generatingunit) isincreased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not
exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
(or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss,
unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss istreated as a revaluation increase.
2.5.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to theextent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted orsubstantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balancesheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different fromthose in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of thetiming difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balancesheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date oftransaction. Exchange differences are taken into account in arriving at the operating result.
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand.
2.6.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measuredat transaction price including transaction costs and are subsequently carried at amortised cost using the effectiveinterest method unless the arrangement constitutes a financing transaction, where the transaction is measuredat thepresent value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangementsentered into. An equity instrument is any contract that evidences a residual interest in the assets of the company afterdeducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies andpreference 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 receiptsdiscounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Accounts payable are classified as current liabilities if payment is due within one year orless. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction priceand subsequently measured at amortised cost using the effective interest method.
Going concern
The financial statements have been prepared on a going concern basis. The company has obtained undertakings fromits shareholders that they will continue to support the company for the foreseeable future and meet all third partyliabilities as they fall due. Given this undertaking, the directors consider it appropriate to adopt a going concern basisin preparing the financial statements.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 173,898
As at 31 January 2024 173,898
Net Book Value
As at 31 January 2024 173,898
As at 1 February 2023 173,898
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Shareholder account 225,439 218,034
Accruals and deferred income 1,600 1,591
227,039 219,625
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 100.00 each 100 100
7. Ultimate Controlling Party
The company's ultimate controlling party is Mr Marc Kurt Ostheimer by virtue of his ownership of 100% of the issued share capital in the company.
Page 4