1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 6,854 635 7,489 3,848 774 4,622 2,867 3,006 xbrli:pure xbrli:shares iso4217:GBP 06496411 2024-03-01 2025-02-28 06496411 2025-02-28 06496411 2024-02-29 06496411 2023-03-01 2024-02-29 06496411 2024-02-29 06496411 2023-02-28 06496411 bus:Director1 2024-03-01 2025-02-28 06496411 core:WithinOneYear 2025-02-28 06496411 core:WithinOneYear 2024-02-29 06496411 core:ShareCapital 2025-02-28 06496411 core:ShareCapital 2024-02-29 06496411 core:RetainedEarningsAccumulatedLosses 2025-02-28 06496411 core:RetainedEarningsAccumulatedLosses 2024-02-29 06496411 bus:SmallEntities 2024-03-01 2025-02-28 06496411 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 06496411 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 06496411 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06496411 bus:FullAccounts 2024-03-01 2025-02-28 06496411 core:FurnitureFittingsToolsEquipment 2024-03-01 2025-02-28 06496411 core:FurnitureFittingsToolsEquipment 2024-02-29 06496411 core:FurnitureFittingsToolsEquipment 2025-02-28
COMPANY REGISTRATION NUMBER: 06496411
Leto Brothers Limited
Filleted Unaudited Financial Statements
28 February 2025
Leto Brothers Limited
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
2,867
3,006
Current assets
Debtors
6
1,059
924
Cash at bank and in hand
69,002
45,544
--------
--------
70,061
46,468
Creditors: amounts falling due within one year
7
24,460
31,587
--------
--------
Net current assets
45,601
14,881
--------
--------
Total assets less current liabilities
48,468
17,887
Provisions
Taxation including deferred tax
760
571
--------
--------
Net assets
47,708
17,316
--------
--------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
45,708
15,316
--------
--------
Shareholders funds
47,708
17,316
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Leto Brothers Limited
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 6 May 2025 , and are signed on behalf of the board by:
Mr M Leto
Director
Company registration number: 06496411
Leto Brothers Limited
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 High Street, Welwyn, Herts, AL6 9EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2024
6,854
6,854
Additions
635
635
-------
-------
At 28 February 2025
7,489
7,489
-------
-------
Depreciation
At 1 March 2024
3,848
3,848
Charge for the year
774
774
-------
-------
At 28 February 2025
4,622
4,622
-------
-------
Carrying amount
At 28 February 2025
2,867
2,867
-------
-------
At 29 February 2024
3,006
3,006
-------
-------
6. Debtors
2025
2024
£
£
Other debtors
1,059
924
-------
----
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,683
954
Corporation tax
12,608
8,519
Social security and other taxes
4,466
4,086
Other creditors
5,703
18,028
--------
--------
24,460
31,587
--------
--------
8. Other financial commitments
Total financial commitments which are not included in the balance sheet amount to £7,950 (2023: £19,874).