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REGISTERED NUMBER: 07304924 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Leone Electrics Limited

Leone Electrics Limited (Registered number: 07304924)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Leone Electrics Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: A N Sulieman





REGISTERED OFFICE: 13 Pickering Road
Barking
IG11 8PG





REGISTERED NUMBER: 07304924 (England and Wales)





ACCOUNTANTS: Taxpoint Direct Limited
Chartered Certified Accountants &Tax Consultants
310E Sterling House
Langston Road
Loughton
IG10 3TS

Leone Electrics Limited (Registered number: 07304924)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,273 1,697

CURRENT ASSETS
Cash at bank and in hand 23,052 22,601

CREDITORS
Amounts falling due within one year 5 17,550 16,632
NET CURRENT ASSETS 5,502 5,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,775

7,666

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,774 7,665
SHAREHOLDERS' FUNDS 6,775 7,666

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 11 April 2025 and were signed by:





A N Sulieman - Director


Leone Electrics Limited (Registered number: 07304924)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Leone Electrics 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Leone Electrics Limited (Registered number: 07304924)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 2,200 6,359 932 9,491
DEPRECIATION
At 1 August 2023 2,136 4,850 808 7,794
Charge for year 16 377 31 424
At 31 July 2024 2,152 5,227 839 8,218
NET BOOK VALUE
At 31 July 2024 48 1,132 93 1,273
At 31 July 2023 64 1,509 124 1,697

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 1,291 950
Directors' current accounts 16,259 15,682
17,550 16,632