REGISTERED NUMBER: 08584814 (England and Wales)

LEAFBRIDGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

J A Kirby

SECRETARY:

J A Kirby

REGISTERED OFFICE:

11 Sadler Court

Stirlin Point

Lincoln

Lincolnshire

LN6 3RG

REGISTERED NUMBER:

08584814 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

CURRENT ASSETS

Stocks

461,844

448,782

Debtors

4

310,288

966,791

Cash at bank

136,004

153,463

908,136

1,569,036

CREDITORS

Amounts falling due within one year

5

1,048,703

4,501,863

NET CURRENT LIABILITIES

(140,567

)

(2,932,827

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(140,567

)

(2,932,827

)

CREDITORS

Amounts falling due after more than one year

6

3,126,955

-

NET LIABILITIES

(3,267,522

)

(2,932,827

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(3,267,622

)

(2,932,927

)

SHAREHOLDERS' FUNDS

(3,267,522

)

(2,932,827

)

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

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

The director acknowledges his 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 director and authorised for issue on 2 April 2025 and were signed by:

J A Kirby - Director

1.	STATUTORY INFORMATION

Leafbridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover

Turnover consists of royalties recongised on an accruals basis in accordance with the substance of the relevant agreement.

Rental Income

Rental income is recognised in the period in which it relates.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern

During the year to 31 October 2024 the company sustained a loss of £334,695 (2023: £280,498) and at that date its liabilities exceeded its assets by £3,267,522 (2023: £2,932,827).

The company has incurred substantial land remediation costs as part of reclaiming land for future developments

The company's directors intend to support the company and therefore the directors consider it appropriate that these financial statements are prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

2,033

23,267

Amounts owed by group undertakings

73,762

-

Other debtors

234,493

943,524

310,288

966,791

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade creditors

17,815

14,876

Amounts owed to group undertakings

518,654

-

Other creditors

512,234

4,486,987

1,048,703

4,501,863

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Other creditors

3,126,955

-

7.	SECURED DEBTS

A charge has been registered by way of legal mortgage on the land of the company that is situated within stock. The debtor also charges to the creditor by way of fixed charge on all buildings, structures and other items affixed to or forming part of the property now and in the future.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.24

31.10.23

value:

£

£

20

Ordinary

£1

20

100

80

A Ordinary

£1

80

-

100

100

80 Ordinary shares were reclassified to A Ordinary shares during the year.