Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity16trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11715143 2023-04-01 2024-03-31 11715143 2022-04-01 2023-03-31 11715143 2024-03-31 11715143 2023-03-31 11715143 c:Director1 2023-04-01 2024-03-31 11715143 d:OfficeEquipment 2023-04-01 2024-03-31 11715143 d:OfficeEquipment 2024-03-31 11715143 d:OfficeEquipment 2023-03-31 11715143 d:CurrentFinancialInstruments 2024-03-31 11715143 d:CurrentFinancialInstruments 2023-03-31 11715143 d:Non-currentFinancialInstruments 2024-03-31 11715143 d:Non-currentFinancialInstruments 2023-03-31 11715143 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11715143 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11715143 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11715143 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11715143 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11715143 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11715143 d:ShareCapital 2024-03-31 11715143 d:ShareCapital 2023-03-31 11715143 d:RetainedEarningsAccumulatedLosses 2024-03-31 11715143 d:RetainedEarningsAccumulatedLosses 2023-03-31 11715143 c:FRS102 2023-04-01 2024-03-31 11715143 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11715143 c:FullAccounts 2023-04-01 2024-03-31 11715143 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11715143 2 2023-04-01 2024-03-31 11715143 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 11715143









LEEON LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LEEON LIMITED
REGISTERED NUMBER: 11715143

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1
1

  
1
1

Current assets
  

Stocks
 6 
14,200
26,358

Debtors: amounts falling due within one year
 7 
5,709
11,958

Cash at bank and in hand
 8 
116
12,504

  
20,025
50,820

Creditors: amounts falling due within one year
 9 
(33,182)
(79,018)

Net current liabilities
  
 
 
(13,157)
 
 
(28,198)

Total assets less current liabilities
  
(13,156)
(28,197)

Creditors: amounts falling due after more than one year
 10 
(12,289)
(21,666)

  

Net liabilities
  
(25,445)
(49,863)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(25,545)
(49,963)

  
(25,445)
(49,863)


Page 1

 
LEEON LIMITED
REGISTERED NUMBER: 11715143

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2024.




M Sahiti
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Leeon Limited is a private company limited by shares, incorporated in England and Wales on 6 December 2018, with a company registration number of 11715143. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the financial year the company relinquished the White Horse service station shop site lease.
The director considers that the resources available to the company, with the continued support of the director, will be sufficient for it to be able to continue as a going concern whilst the director considers potential options and the company future. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.
The director has considered a period of 12 months from the balance sheet date and the financial statements have been prepared on a going concern basis, despite the net balance sheet liabilities, based on the continued support of the director.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment
-
3 years straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 6).


4.


Taxation

The company has corporation tax losses of £40,247 (2023 £64,570) carried forward.

Page 5

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office equipment

£



Cost


At 1 April 2023
366



At 31 March 2024

366



Depreciation


At 1 April 2023
365



At 31 March 2024

365



Net book value



At 31 March 2024
1



At 31 March 2023
1


6.


Stocks

2024
2023
£
£

Service station shop stock
-
26,358

Vehicle stock
14,200
-

14,200
26,358



7.


Debtors

2024
2023
£
£


Other debtors
5,709
11,958



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
116
12,504


Page 6

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,150
10,000

Trade creditors
5,455
26,067

Amounts owed to associated companies
3,010
19,000

Other taxation and social security
-
5,981

Other creditors
11,571
13,832

Accruals
2,996
4,138

33,182
79,018



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,289
21,666



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,150
10,000

Amounts falling due 1-2 years

Bank loans
12,289
21,666



22,439
31,666



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £91 (2023 £1,244). No contributions (2023 £184) were payable to the fund at the balance sheet date.

Page 7

 
LEEON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

During the year the company was loaned monies from B M Houses Limited, an associated concern in which the director M Sahiti has a material interest.
The amount due to B M Houses Limited at the year end was £3,010 (2023 £19,000) and the loan is interest free and repayable on demand.
At 1 April 2023 M Sahiti''s directors current account was a credit balance of £4,902, during the year personal expenses were paid on behalf of the director totalling £42,281, and the director introduced monies of £48,950, leaving a credit balance of £11,571 as at 31 March 2024. The loan is interest free and repayable on demand.


Page 8