Bound Leather Limited 09997206 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the provision of consultancy services and the provision of bespoke leather goods. Digita Accounts Production Advanced 6.30.9574.0 true true 09997206 2023-03-01 2024-02-29 09997206 2024-02-29 09997206 core:CurrentFinancialInstruments 2024-02-29 09997206 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09997206 bus:SmallEntities 2023-03-01 2024-02-29 09997206 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09997206 bus:FilletedAccounts 2023-03-01 2024-02-29 09997206 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09997206 bus:RegisteredOffice 2023-03-01 2024-02-29 09997206 bus:Director1 2023-03-01 2024-02-29 09997206 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 09997206 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09997206 core:OtherRelatedParties 2023-03-01 2024-02-29 09997206 core:UKTax 2023-03-01 2024-02-29 09997206 countries:EnglandWales 2023-03-01 2024-02-29 09997206 2022-03-01 2023-02-28 09997206 2023-02-28 09997206 core:CurrentFinancialInstruments 2023-02-28 09997206 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09997206 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 09997206 core:UKTax 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 09997206

Bound Leather Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Bound Leather Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bound Leather Limited

Company Information

Director

Pippa Harrison

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 0RB

 

Bound Leather Limited

(Registration number: 09997206)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

-

1,729

Cash at bank and in hand

 

1,855

4,982

 

1,855

6,711

Creditors: Amounts falling due within one year

6

(1,665)

(1,750)

Net assets

 

190

4,961

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

90

4,861

Shareholders' funds

 

190

4,961

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 November 2024
 

.........................................
Pippa Harrison
Director

 

Bound Leather Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

These financial statements were authorised for issue by the director on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its debts as they fall due. However, at the year end the company made a loss of £4,771 (2023: £7,375).The director believes it is appropriate to prepare the financial statements on a going concern basis, as she has agreed to support the company for the foreseeable future.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

Bound Leather Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
income is recognised when the company has fulfilled its obligation to the customer;
and where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropraite proportion of the total expected consideration at completion.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Bound Leather Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

-

(1,729)

5

Debtors

Current

2024
£

2023
£

Other debtors

-

1,729

 

-

1,729

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Director's loan account

9

87

172

Accruals and deferred income

 

1,578

1,578

 

1,665

1,750

 

Bound Leather Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £35.00) per each Ordinary share

-

3,500

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

4,000

Summary of transactions with other related parties

Pippa Harrison
(Director)

 During the year the director incurred £nil (2023: £780) of expenses paid personally. She has withdrawn £nil (2023: £8,437) from the company, was paid a salary or fees of £nil (2023: £4,000) and dividends totalling £nil (2023: £3,500). At the balance sheet date the company owed Pippa Harrison £87 (2023: £172).