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Registered number: 11104599
Leo.Al.Auto Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
BeSmart Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11104599
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 134,188 162,500
134,188 162,500
CURRENT ASSETS
Debtors 5 14,595 -
Cash at bank and in hand 2,168 -
16,763 -
Creditors: Amounts Falling Due Within One Year 6 (84,525 ) (25,102 )
NET CURRENT ASSETS (LIABILITIES) (67,762 ) (25,102 )
TOTAL ASSETS LESS CURRENT LIABILITIES 66,426 137,398
Creditors: Amounts Falling Due After More Than One Year 7 (90,660 ) (121,950 )
NET (LIABILITIES)/ASSETS (24,234 ) 15,448
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (24,334 ) 15,348
SHAREHOLDERS' FUNDS (24,234) 15,448
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Algimantas Leonickas
Director
07/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Leo.Al.Auto Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11104599 . The registered office is 43 Wadhurst Gardens, Southampton, SO19 9QR.
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
Turnover from the sale of goods 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 20
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 5)
3 5
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 January 2024 267,942
Additions 14,995
Disposals (15,250 )
As at 31 December 2024 267,687
...CONTINUED
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Page 4
Depreciation
As at 1 January 2024 105,442
Provided during the period 33,547
Disposals (5,490 )
As at 31 December 2024 133,499
Net Book Value
As at 31 December 2024 134,188
As at 1 January 2024 162,500
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 14,595 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 5,500
Corporation tax 962 898
Other taxes and social security 4,805 2,703
VAT 63,999 14,915
Net wages 3,275 1,086
Other creditors 11,484 -
84,525 25,102
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 79,752 100,214
Bank loans 10,908 21,736
90,660 121,950
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 79,752 100,214
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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