Registered number
13885316
LITTLE LEAPERS LTD
Filleted Accounts
31 July 2024
LITTLE LEAPERS LTD
Registered number: 13885316
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 348,506 43,199
Tangible assets 4 108,812 414,503
457,318 457,702
Current assets
Debtors 5 31,303 15,748
Cash at bank and in hand 99,278 41,176
130,581 56,924
Creditors: amounts falling due within one year 6 (944,154) (790,265)
Net current liabilities (813,573) (733,341)
Total assets less current liabilities (356,255) (275,639)
Creditors: amounts falling due after more than one year 7 (14,512) -
Net liabilities (370,767) (275,639)
Capital and reserves
Called up share capital 1 1
Profit and loss account (370,768) (275,640)
Shareholders' funds (370,767) (275,639)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mihir Shah
Director
Approved by the board on 4 April 2025
LITTLE LEAPERS LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Leasehold over the lease term
Plant and machinery 20% on reducing balance
Franchise Costs over 10 years
Motor Vehicle 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 9
3 Intangible fixed assets £
Franchise Leasehold
Buildings Total
Cost
At 1 August 2023 47,999 387,633 435,632
At 31 July 2024 47,999 387,633 435,632
Amortisation
At 1 August 2023 4,800 38,763 4,800
Provided during the year 4,800 38,763 4,800
At 31 July 2024 9,600 77,526 87,126
Net book value
At 31 July 2024 38,399 310,107 348,506
At 31 July 2023 43,199 348,870 430,832
Franchise is being written off in equal annual instalments over its estimated economic life of 10 years.
Leasehold improvements are being written off in equal instalments over the term of the Lease.
4 Tangible fixed assets
Motor Vehicle Plant and machinery etc Fixtures & Fittings Total
£ £ £ £
Cost
At 1 August 2023 - 32,644 49,397 82,041
Additions 77,400 - 750 78,150
Disposals - - (2,930) (2,930)
At 31 July 2024 77,400 32,644 47,217 157,261
Depreciation
At 1 August 2023 - 6,529 9,879 16,408
Charge for the year 19,350 5,223 7,468 32,041
At 31 July 2024 19,350 11,752 17,347 48,449
Net book value
At 31 July 2024 58,050 20,892 29,870 108,812
At 31 July 2023 - 26,115 39,518 65,633
5 Debtors 2024 2023
£ £
Trade debtors 31,303 15,748
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,901 17,717
Taxation and social security costs - 1,115
Other creditors 935,253 771,433
944,154 790,265
7 Creditors: amounts falling due after one year 2024 2023
£ £
Deferred Tax 14,512
8 Other information
LITTLE LEAPERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Grove House Third Floor,
55 Lowlands Road
Harrow
HA1 3AW
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