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REGISTERED NUMBER: 09049728 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 May 2024

for

Leo's Delicatessen Limited

Leo's Delicatessen Limited (Registered number: 09049728)






Contents of the Financial Statements
for the Year Ended 30 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leo's Delicatessen Limited

Company Information
for the Year Ended 30 May 2024







DIRECTORS: Mrs N R Sholl
Mr M D Sholl





REGISTERED OFFICE: 17 Market Hill
Framlingham
Woodbridge
Suffolk
IP13 9AN





REGISTERED NUMBER: 09049728 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Leo's Delicatessen Limited (Registered number: 09049728)

Balance Sheet
30 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 371,399 373,672

CURRENT ASSETS
Stocks 9,800 9,500
Debtors 5 107 97
Cash at bank and in hand 2,771 8,179
12,678 17,776
CREDITORS
Amounts falling due within one year 6 202,514 211,374
NET CURRENT LIABILITIES (189,836 ) (193,598 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,563

180,074

CREDITORS
Amounts falling due after more than one
year

7

(140,951

)

(152,127

)

PROVISIONS FOR LIABILITIES 9 (2,118 ) (2,118 )
NET ASSETS 38,494 25,829

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 37,494 24,829
SHAREHOLDERS' FUNDS 38,494 25,829

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

Leo's Delicatessen Limited (Registered number: 09049728)

Balance Sheet - continued
30 May 2024


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 12 February 2025 and were signed on its behalf by:




Mr M D Sholl - Director



Mrs N R Sholl - Director


Leo's Delicatessen Limited (Registered number: 09049728)

Notes to the Financial Statements
for the Year Ended 30 May 2024

1. STATUTORY INFORMATION

Leo's Delicatessen 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.

At the 30 May 2023 the Company had net current liabilities. In meeting the Company's working capital requirements the directors have agreed to continue to support the Company for the next 12 months. On the basis that the directors consider, with their support, it appropriate to prepare the financial statements on a going concern basis, the financial statements do not contain any adjustments that would result from the withdrawal of their support.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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.

Leo's Delicatessen Limited (Registered number: 09049728)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 31 May 2023
and 30 May 2024 362,525 26,005 10,875 399,405
DEPRECIATION
At 31 May 2023 - 15,697 10,036 25,733
Charge for year - 2,063 210 2,273
At 30 May 2024 - 17,760 10,246 28,006
NET BOOK VALUE
At 30 May 2024 362,525 8,245 629 371,399
At 30 May 2023 362,525 10,308 839 373,672

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 107 97

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 154,000 152,500
Trade creditors 18,816 19,317
Tax 3,973 573
Social security and other taxes (24 ) 11
VAT 5,371 2,765
Directors' current accounts 7,768 23,598
Accrued expenses 2,610 2,610
202,514 211,374

Leo's Delicatessen Limited (Registered number: 09049728)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 30,000 30,000
Bank loans more 5 yr by instal 100,951 112,127
140,951 152,127

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 100,951 112,127

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 150,951 162,127

Bank borrowings are secured by a charge over the companies property.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,118 2,118

Deferred
tax
£   
Balance at 31 May 2023 2,118
Balance at 30 May 2024 2,118