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Registration number: 4816287

Alan Leather Associates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Alan Leather Associates Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Alan Leather Associates Ltd

Company Information

Directors

Miss Kylie Lambert

Mr Gavin Davis

Mr Owen D Beynon

Registered office

Latham Park
St Blazey Road
Par
Cornwall
PL24 2HY

Accountants

Peter Williams & Co
Chartered Certified AccountantsLatham Park
St Blazey Road
Par
Cornwall
PL24 2HY

 

Alan Leather Associates Ltd

(Registration number: 4816287)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,180

1,574

Current assets

 

Debtors

5

98,359

82,827

Cash at bank and in hand

 

10

16,659

 

98,369

99,486

Creditors: Amounts falling due within one year

6

(87,554)

(93,705)

Net current assets

 

10,815

5,781

Net assets

 

11,995

7,355

Capital and reserves

 

Called up share capital

7

500

500

Retained earnings

11,495

6,855

Shareholders' funds

 

11,995

7,355

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

.........................................
Miss Kylie Lambert
Director

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Latham Park
St Blazey Road
Par
Cornwall
PL24 2HY

The principal place of business is:
45 Charlestown Road
Charlestown
St Austell
Cornwall
PL25 3NJ

These financial statements were authorised for issue by the Board on 11 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% Reducing balance

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 known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

60,276

60,276

At 30 June 2024

60,276

60,276

Depreciation

At 1 July 2023

58,702

58,702

Charge for the year

394

394

At 30 June 2024

59,096

59,096

Carrying amount

At 30 June 2024

1,180

1,180

At 30 June 2023

1,574

1,574

5

Debtors

Current

2024
£

2023
£

Trade debtors

97,528

82,621

Prepayments

831

206

 

98,359

82,827

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

51,083

40,115

Trade creditors

 

2,007

7,793

Taxation and social security

 

29,368

41,264

Accruals and deferred income

 

4,965

4,402

Other creditors

 

131

131

 

87,554

93,705

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each of £1 each

500

500

500

500

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

14,292

8,544

Other borrowings

36,791

31,571

51,083

40,115

9

Dividends

2024

2023

£

£

Interim dividend of £92.25 (2023 - £136.66) per ordinary share

46,123

68,332

 

 

10

Related party transactions

 

Alan Leather Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

41,746

43,438