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REGISTERED NUMBER: 01333675 (England and Wales)















Leather Solutions Limited

Financial Statements

for the Year Ended 30 September 2024






Leather Solutions Limited (Registered number: 01333675)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Leather Solutions Limited

Company Information
for the year ended 30 September 2024







Director: Paul Hanson Pettengell





Registered office: Hanson House
Knight Road
Strood
Rochester
Kent
ME2 2JH





Registered number: 01333675 (England and Wales)






Leather Solutions Limited (Registered number: 01333675)

Balance Sheet
30 September 2024

2024 2023
Notes £ £
Current assets
Debtors 4 9,625 9,625
Cash at bank 1,238 1,238
Total assets less current liabilities 10,863 10,863

Capital and reserves
Called up share capital 5 2 2
Retained earnings 6 10,861 10,861
Shareholders' funds 10,863 10,863

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 January 2025 and were signed by:





Paul Hanson Pettengell - Director


Leather Solutions Limited (Registered number: 01333675)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

Leather Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for good and services net of VAT and trade discounts.

Financial instruments
The Company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments.

(i) Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgements in applying the Company's accounting policies
The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

(b) Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Leather Solutions Limited (Registered number: 01333675)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


2. Accounting policies - continued

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going concern basis of accounting in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Debtors: amounts falling due within one year
2024 2023
£ £
Amounts due from connected
company 9,625 9,625
9,625 9,625

5. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2

6. Reserves
Retained
earnings
£

At 1 October 2023 10,861
Profit for the year -
At 30 September 2024 10,861

Leather Solutions Limited (Registered number: 01333675)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


7. Ultimate controlling party

The controlling party is Paul Hanson Pettengell.