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Registered number: 00512946
D C Leake Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SFB Group Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00512946
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 273,497 286,364
Investments 6 4,800 4,800
278,297 291,164
CURRENT ASSETS
Stocks 7 736,705 684,332
Debtors 8 1,962 4,377
Cash at bank and in hand 57,637 118,427
796,304 807,136
Creditors: Amounts Falling Due Within One Year 9 (454,692 ) (528,667 )
NET CURRENT ASSETS (LIABILITIES) 341,612 278,469
TOTAL ASSETS LESS CURRENT LIABILITIES 619,909 569,633
Creditors: Amounts Falling Due After More Than One Year 10 (134,196 ) (147,613 )
NET ASSETS 485,713 422,020
CAPITAL AND RESERVES
Called up share capital 11 6,000 6,000
Profit and Loss Account 479,713 416,020
SHAREHOLDERS' FUNDS 485,713 422,020
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Nigel Leake
Director
20/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
D C Leake Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00512946 . The registered office is 106 Abbey Street, Nuneaton, Warwickshire, CV11 5BX.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Freehold 2% straight line
Fixtures & Fittings 10% reducing balance
Computer Equipment 20% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 3,459
As at 31 March 2024 3,459
Amortisation
As at 1 April 2023 3,459
As at 31 March 2024 3,459
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 402,432 166,492 7,124 576,048
As at 31 March 2024 402,432 166,492 7,124 576,048
Depreciation
As at 1 April 2023 155,526 132,549 1,609 289,684
Provided during the period 8,049 3,393 1,425 12,867
As at 31 March 2024 163,575 135,942 3,034 302,551
Net Book Value
As at 31 March 2024 238,857 30,550 4,090 273,497
As at 1 April 2023 246,906 33,943 5,515 286,364
6. Investments
Listed
£
Cost
As at 1 April 2023 4,800
As at 31 March 2024 4,800
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 4,800
As at 1 April 2023 4,800
Page 4
Page 5
7. Stocks
2024 2023
£ £
Stock 736,705 684,332
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 778
Other debtors 1,962 3,599
1,962 4,377
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 220,978 362,599
Bank loans and overdrafts 17,962 17,677
Other creditors 77,511 62,453
Taxation and social security 138,241 85,938
454,692 528,667
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 122,164 140,412
Other loans 12,032 7,201
134,196 147,613
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,000 6,000
Page 5