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Registered number: 13759959
Leeds Experience Ltd
Financial Statements
For The Year Ended 30 June 2024
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13759959
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,676 4,437
4,676 4,437
CURRENT ASSETS
Debtors 5 108,000 99,358
Cash at bank and in hand 199,574 182,594
307,574 281,952
Creditors: Amounts Falling Due Within One Year 6 (237,433 ) (283,973 )
NET CURRENT ASSETS (LIABILITIES) 70,141 (2,021 )
TOTAL ASSETS LESS CURRENT LIABILITIES 74,817 2,416
NET ASSETS 74,817 2,416
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 74,816 2,415
SHAREHOLDERS' FUNDS 74,817 2,416
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Hannah Duraid
Director
19th November 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Leeds Experience Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13759959 . The registered office is 153 Warminster Raod, Sheffield, S8 8PP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods & services
Turnover from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings Reducing Balance @20%
Computer Equipment Straight Line - 3 Years
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 9)
11 9
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 5,318 - 5,318
Additions - 1,337 1,337
As at 30 June 2024 5,318 1,337 6,655
Depreciation
As at 1 July 2023 881 - 881
Provided during the period 887 211 1,098
As at 30 June 2024 1,768 211 1,979
Net Book Value
As at 30 June 2024 3,550 1,126 4,676
As at 1 July 2023 4,437 - 4,437
5. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 67,429 -
Prepayments and accrued income 5,089 7,238
Other debtors 35,482 92,120
108,000 99,358
6. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 5,033 19,114
Corporation tax 20,704 12,748
Other creditors 39,596 80,011
Accruals and deferred income 172,100 172,100
237,433 283,973
7. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
Included in other creditors are amounts owed to directors of £14,144 (2023: £4,738). These loans are interest free and repayable on demand.
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