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REGISTERED NUMBER: 03830668 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LEONARD CURTIS SOUTH COAST LIMITED

LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,270 9,254

CURRENT ASSETS
Debtors 5 1,657,263 1,435,683
Cash at bank and in hand 244,559 207,590
1,901,822 1,643,273
CREDITORS
Amounts falling due within one year 6 264,473 291,596
NET CURRENT ASSETS 1,637,349 1,351,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,656,619

1,360,931

PROVISIONS FOR LIABILITIES 4,818 2,314
NET ASSETS 1,651,801 1,358,617

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings 1,151,801 858,617
1,651,801 1,358,617

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





D J Booth - Director


LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

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


1. STATUTORY INFORMATION

Leonard Curtis South Coast Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 03830668 and its registered office is Riverside House, Irwell Street, Manachester, M3 5EN.

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.

The functional and presentation currency is £ sterling.

Following the year end, the company has ceased trading and the directors do not intend to continue to operate the company. The financial statements have therefore been prepared on a basis other than going concern. As the trade of the company will continue as currently operated, no adjustments have been made under this basis of preparation as the directors consider it appropriate to reflect the results for the year and balance sheet as that of a continuing business.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Unbilled revenue
The directors make judgements as to whether the final outcome on long term assignments can be assessed with reasonable certainty before profits are calculated.

The directors also make judgements as to the amount of profit that is calculated on long term assignments such that it prudently reflects the proportion of the work carried out by the year end by recording turnover and related costs as contract activity progresses.

Trade debtors recoverability
Amounts recoverable on trade debtors are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The directors make estimates as to the recoverability of these debts and provide for them accordingly.

Turnover
Turnover represents amounts chargeable to clients for professional services provided during the period, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance on each assignment. Consideration accrues as activity progresses by reference to the value of the work performed. Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company.

Unbilled revenue is included on the balance sheet within 'Debtors'.

LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold properties - Over term of lease
Fixtures and fittings - 25% reducing balance
Computer equipment - 33% on cost
Motor vehicles - 25% reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amounts of its furniture and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

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 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.

Basic financial assets, which include trade debtors, other debtors, unbilled revenue, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors , other creditors, preference shares and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.


LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable for the period are charged in the profit and loss account.

Hire purchase and leasing commitments
Rentals paid under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 May 2023 8,099 44,331 52,430
Additions - 24,636 24,636
At 30 April 2024 8,099 68,967 77,066
DEPRECIATION
At 1 May 2023 5,958 37,218 43,176
Charge for year 1,344 13,276 14,620
At 30 April 2024 7,302 50,494 57,796
NET BOOK VALUE
At 30 April 2024 797 18,473 19,270
At 30 April 2023 2,141 7,113 9,254

LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 107,080 152,474
Unbilled revenue 1,306,872 1,248,721
Amounts owed by group undertakings 208,997 8,581
Other debtors 617 617
Tax 9,472 -
Prepayments and accrued income 24,225 25,290
1,657,263 1,435,683

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 20,990 11,947
Corporation tax (875 ) 3,355
Social security and other taxes 182,386 230,881
Other creditors 25,402 6,413
Accruals 36,570 39,000
264,473 291,596

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 11,142 36,881
Between one and five years - 18,176
11,142 55,057

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


The directors have ceased the trade of the entity following the year end and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

Frederick Norman (Senior Statutory Auditor)
for and on behalf of Harold Sharp Limited

9. OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme. During the year the company contributed £46,651 (2023: £36,291). At 30 April 2024, unpaid employer pension contributions of £2,120 (2023: £2,099) were included in other creditors.

LEONARD CURTIS SOUTH COAST LIMITED (REGISTERED NUMBER: 03830668)

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


10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Leonard Curtis Limited, whose registered office is Riverside House, Irwell Street, Manchester , M3 5EN.

The company's ultimate parent company changed to Project Hallelujah Bidco Limited whose registered office is Riverside House, Irwell Street, Manchester , M3 5EN.

The smallest and largest group of which Leonard Curtis South Coast Limited is a member and for which consolidated financial statements are prepared is Project Hallelujah Bidco Limited. Copies of the consolidated accounts can be obtained from Companies House, Cardiff.

The directors are of the opinion that there is no ultimate controlling party of Project Hallelujah Bidco Limited.