Company registration number 14159782 (England and Wales)
LEOMINSTER SPICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
LEOMINSTER SPICE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LEOMINSTER SPICE LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,077
2,777
Current assets
Stocks
2,755
2,538
Debtors
4
3,096
752
Cash at bank and in hand
616
4,530
6,467
7,820
Creditors: amounts falling due within one year
5
(20,489)
(9,408)
Net current liabilities
(14,022)
(1,588)
Net (liabilities)/assets
(10,945)
1,189
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(10,946)
1,188
Total equity
(10,945)
1,189
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 3 March 2025
Md Nurul Islam
Director
Company registration number 14159782 (England and Wales)
LEOMINSTER SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Leominster Spice Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52 West Street, Leominster, United Kingdom, HR6 8EU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
18% on reducing balance
Motor vehicles
20% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
LEOMINSTER SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
5
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
3,387
3,387
Additions
1,000
1,000
At 30 June 2024
3,387
1,000
4,387
Depreciation and impairment
At 1 July 2023
610
610
Depreciation charged in the year
500
200
700
At 30 June 2024
1,110
200
1,310
Carrying amount
At 30 June 2024
2,277
800
3,077
At 30 June 2023
2,777
2,777
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,676
605
Other debtors
420
147
3,096
752
LEOMINSTER SPICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
990
880
Corporation tax
506
506
Other taxation and social security
12,597
2,480
Other creditors
6,396
5,542
20,489
9,408
6
Ultimate Controlling Party
The ultimate controlling party is Md Nurul Islam