Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseNo description of principal activity22falsetrue SC683801 2023-05-01 2024-04-30 SC683801 2022-05-01 2023-04-30 SC683801 2024-04-30 SC683801 2023-04-30 SC683801 c:Director1 2023-05-01 2024-04-30 SC683801 c:Director2 2023-05-01 2024-04-30 SC683801 c:RegisteredOffice 2023-05-01 2024-04-30 SC683801 d:FreeholdInvestmentProperty 2023-05-01 2024-04-30 SC683801 d:FreeholdInvestmentProperty 2024-04-30 SC683801 d:FreeholdInvestmentProperty 2023-04-30 SC683801 d:CurrentFinancialInstruments 2024-04-30 SC683801 d:CurrentFinancialInstruments 2023-04-30 SC683801 d:Non-currentFinancialInstruments 2024-04-30 SC683801 d:Non-currentFinancialInstruments 2023-04-30 SC683801 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC683801 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC683801 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 SC683801 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 SC683801 d:ShareCapital 2024-04-30 SC683801 d:ShareCapital 2023-04-30 SC683801 d:InvestmentPropertiesRevaluationReserve 2024-04-30 SC683801 d:InvestmentPropertiesRevaluationReserve 2023-04-30 SC683801 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC683801 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC683801 c:OrdinaryShareClass1 2023-05-01 2024-04-30 SC683801 c:OrdinaryShareClass1 2024-04-30 SC683801 c:OrdinaryShareClass1 2023-04-30 SC683801 c:FRS102 2023-05-01 2024-04-30 SC683801 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC683801 c:FullAccounts 2023-05-01 2024-04-30 SC683801 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC683801 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC683801










LEOPHICAS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
LEOPHICAS LIMITED
 

COMPANY INFORMATION


Directors
Mr S D D Whyte 
Mr D Forster 




Registered number
SC683801



Registered office
5-10 Dock Place

Edinburgh

EH6 6LU




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
LEOPHICAS LIMITED
REGISTERED NUMBER: SC683801

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
£
£

Fixed assets
  

Investment property
 4 
664,125
400,000

  
664,125
400,000

Current assets
  

Debtors: amounts falling due within one year
 5 
138,058
379

Bank and cash balances
  
280,299
264,907

  
418,357
265,286

Creditors: amounts falling due within one year
 6 
(33,585)
(24,312)

Net current assets
  
 
 
384,772
 
 
240,974

Total assets less current liabilities
  
1,048,897
640,974

Creditors: amounts falling due after more than one year
 7 
(805,692)
(453,740)

Provisions for liabilities
  

Deferred tax
  
(32,522)
(32,522)

  
 
 
(32,522)
 
 
(32,522)

Net assets
  
210,683
154,712


Capital and reserves
  

Called up share capital 
 8 
100
100

Investment property reserve
  
97,566
97,566

Profit and loss account
  
113,017
57,046

  
210,683
154,712


Page 1

 
LEOPHICAS LIMITED
REGISTERED NUMBER: SC683801

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 statement of comprehensive income 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 by: 




Mr S D D Whyte
Director

Date: 14 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LEOPHICAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Leophicas Limited is a private company limited by shares, incorporated in Scotland, with registration number SC683801. The registered office address is 5-10 Dock Place, Edinburgh, EH6 6LU.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LEOPHICAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

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.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
LEOPHICAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
400,000


Additions at cost
375,511


Disposals
(111,386)



At 30 April 2024
664,125

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Trade debtors
3,500
-

Other debtors
134,214
-

Prepayments and accrued income
344
379

138,058
379



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,100
13,000

Trade creditors
-
240

Other taxation and social security
15,165
5,312

Other creditors
10,500
-

Accruals and deferred income
5,820
5,760

33,585
24,312


Bank loans are secured over the property of the company.

Page 5

 
LEOPHICAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
374,792
182,840

Amounts owed to group undertakings
430,900
270,900

805,692
453,740


Bank loans are secured over the property of the company.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 6