IRIS Accounts Production v24.3.2.46 03145836 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031458362023-05-31031458362024-05-31031458362023-06-012024-05-31031458362022-05-31031458362022-06-012023-05-31031458362023-05-3103145836ns15:EnglandWales2023-06-012024-05-3103145836ns14:PoundSterling2023-06-012024-05-3103145836ns10:Director12023-06-012024-05-3103145836ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3103145836ns10:SmallEntities2023-06-012024-05-3103145836ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3103145836ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3103145836ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3103145836ns10:FullAccounts2023-06-012024-05-3103145836ns10:Director22023-06-012024-05-3103145836ns10:Director32023-06-012024-05-3103145836ns10:CompanySecretary12023-06-012024-05-3103145836ns10:RegisteredOffice2023-06-012024-05-3103145836ns5:CurrentFinancialInstruments2024-05-3103145836ns5:CurrentFinancialInstruments2023-05-3103145836ns5:ShareCapital2024-05-3103145836ns5:ShareCapital2023-05-3103145836ns5:CapitalRedemptionReserve2024-05-3103145836ns5:CapitalRedemptionReserve2023-05-3103145836ns5:RetainedEarningsAccumulatedLosses2024-05-3103145836ns5:RetainedEarningsAccumulatedLosses2023-05-3103145836ns5:LongLeaseholdAssetsns5:LandBuildings2023-06-012024-05-3103145836ns5:PlantMachinery2023-06-012024-05-3103145836ns5:FurnitureFittings2023-06-012024-05-3103145836ns5:LandBuildings2023-05-3103145836ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-3103145836ns5:PlantMachinery2023-05-3103145836ns5:FurnitureFittings2023-05-3103145836ns5:LandBuildings2023-06-012024-05-3103145836ns5:LandBuildings2024-05-3103145836ns5:LongLeaseholdAssetsns5:LandBuildings2024-05-3103145836ns5:PlantMachinery2024-05-3103145836ns5:FurnitureFittings2024-05-3103145836ns5:LandBuildings2023-05-3103145836ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-3103145836ns5:PlantMachinery2023-05-3103145836ns5:FurnitureFittings2023-05-3103145836ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3103145836ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3103145836ns5:WithinOneYear2024-05-3103145836ns5:WithinOneYear2023-05-3103145836ns5:BetweenOneFiveYears2024-05-3103145836ns5:BetweenOneFiveYears2023-05-3103145836ns5:AllPeriods2024-05-3103145836ns5:AllPeriods2023-05-31
REGISTERED NUMBER: 03145836 (England and Wales)















THE LEADERSHIP FACTOR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE LEADERSHIP FACTOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr S N Hill
Miss J A Nottingham
Mr G J Roche





SECRETARY: Mr K W Roberts





REGISTERED OFFICE: Taylor Hill Mill
Huddersfield
HD4 6JA





REGISTERED NUMBER: 03145836 (England and Wales)





ACCOUNTANTS: DSC
Chartered Accountants
Birkbeck Suite G2
Water Street
Skipton
BD23 1PB

THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,148 14,181

CURRENT ASSETS
Stocks 5 9,922 12,737
Debtors 6 683,194 805,773
Cash at bank 4,988,786 3,990,675
5,681,902 4,809,185
CREDITORS
Amounts falling due within one year 7 847,131 542,606
NET CURRENT ASSETS 4,834,771 4,266,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,850,919

4,280,760

CAPITAL AND RESERVES
Called up share capital 1,612 1,612
Capital redemption reserve 875 875
Retained earnings 4,848,432 4,278,273
4,850,919 4,280,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





Mr S N Hill - Director


THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

The Leadership Factor 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold land and buildings - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Furniture, fittings and equipment - 50% on cost

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress compromises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is regognised immediately in profit or loss.

Financial instruments
Classification:
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a know amount of cash and are subject to and insignificant risk of change in value.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 163 (2023 - 161 ) .

THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Long Furniture,
leasehold fittings
Land and land and Plant and and
buildings buildings machinery equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 57,277 86,702 73,103 211,149 428,231
Additions - - - 14,696 14,696
Disposals - - (24,367 ) (39,865 ) (64,232 )
At 31 May 2024 57,277 86,702 48,736 185,980 378,695
DEPRECIATION
At 1 June 2023 55,058 86,702 73,103 199,187 414,050
Charge for year 333 - - 12,396 12,729
Eliminated on disposal - - (24,367 ) (39,865 ) (64,232 )
At 31 May 2024 55,391 86,702 48,736 171,718 362,547
NET BOOK VALUE
At 31 May 2024 1,886 - - 14,262 16,148
At 31 May 2023 2,219 - - 11,962 14,181

5. STOCKS
2024 2023
£    £   
Work in progress 9,922 12,737

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 601,754 688,429
Other debtors 50,000 100,000
Prepayments 31,440 17,344
683,194 805,773

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,779 11,808
Tax 205,659 52,910
Social security and other taxes 54,179 56,741
VAT 184,529 165,783
Accruals and deferred income 386,985 255,364
847,131 542,606

THE LEADERSHIP FACTOR LIMITED (REGISTERED NUMBER: 03145836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 20,650 20,650
Between one and five years - 20,650
20,650 41,300