Company Registration No. 10978208 (England and Wales)
Lead Financial Limited
Unaudited accounts
for the year ended 30 September 2024
Lead Financial Limited
Unaudited accounts
Contents
Lead Financial Limited
Company Information
for the year ended 30 September 2024
Directors
Adam Cooper
Lee Terry
Company Number
10978208 (England and Wales)
Registered Office
Unit B Valley House
Valley Road
Plymouth
PL7 1RF
England
Lead Financial Limited
Statement of financial position
as at 30 September 2024
Intangible assets
1,600
2,400
Tangible assets
48,060
2,976
Cash at bank and in hand
41,428
50,184
Creditors: amounts falling due within one year
(21,228)
(21,599)
Net current assets
33,260
31,771
Total assets less current liabilities
82,920
37,147
Creditors: amounts falling due after more than one year
(40,051)
(8,476)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
33,157
28,006
Shareholders' funds
33,257
28,106
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by
Adam Cooper
Director
Company Registration No. 10978208
Lead Financial Limited
Notes to the Accounts
for the year ended 30 September 2024
Lead Financial Limited is a private company, limited by shares, registered in England and Wales, registration number 10978208. The registered office is Unit B Valley House, Valley Road, Plymouth, PL7 1RF, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15 % reducing balance
Motor vehicles
3 years straight line and 25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Lead Financial Limited
Notes to the Accounts
for the year ended 30 September 2024
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to
recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property
where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be measured reliably.
Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Intangible fixed assets
Total
At 30 September 2024
2,400
At 30 September 2024
1,600
At 30 September 2023
2,400
Lead Financial Limited
Notes to the Accounts
for the year ended 30 September 2024
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Tangible fixed assets
Total
At 30 September 2024
50,086
At 30 September 2024
2,026
At 30 September 2024
48,060
At 30 September 2023
2,976
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Deferred taxation
2024
2023
Accelerated capital allowances
9,612
565
Provision at start of year
565
565
Charged to the profit and loss account
9,047
-
Provision at end of year
9,612
565
At 30 September 2024 included within other debtors are directors' loans outstanding to the company totalling £12,369. These will be repaid in full by 1 July 2025.
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Average number of employees
During the year the average number of employees was 2 (2023: 2).