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Registered number: SC299642










LEAH INTERNATIONAL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
LEAH INTERNATIONAL LTD
 

COMPANY INFORMATION


Directors
Mrs J Adams 
Mr D Adams 
Mr P Adams 




Company secretary
Mrs J Adams



Registered number
SC299642



Registered office
The Haven
Main Road

Crombie

Fife

KY12 8JX




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
LEAH INTERNATIONAL LTD
REGISTERED NUMBER: SC299642

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
163,509
194,359

  
163,509
194,359

Current assets
  

Stocks
  
587,200
781,600

Debtors Within One Year
 5 
143,273
141,663

Bank and cash balances
  
343,650
112,062

  
1,074,123
1,035,325

Creditors: Amounts Falling Due Within One Year
 6 
(143,660)
(139,109)

Net current assets
  
 
 
930,463
 
 
896,216

Total assets less current liabilities
  
1,093,972
1,090,575

Creditors: amounts falling due after more than one year
 7 
(29,973)
(65,144)

Provisions for liabilities
  

Deferred tax
  
(37,568)
(32,319)

  
 
 
(37,568)
 
 
(32,319)

Net assets
  
1,026,431
993,112


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
1,026,331
993,012

  
1,026,431
993,112


Page 1

 
LEAH INTERNATIONAL LTD
REGISTERED NUMBER: SC299642

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr P Adams
Director

Date: 13 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Leah International Ltd is a Company limited by shares and incorporated in Scotland. The address of the registered office is The Haven, Main Road, Crombie, Fife, KY12 8JX.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 5

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
56,865
234,869
22,318
23,544
337,596


Additions
4,720
7,818
16,350
1,167
30,055


Disposals
-
(46,625)
-
-
(46,625)



At 30 September 2024

61,585
196,062
38,668
24,711
321,026



Depreciation


At 1 October 2023
44,571
79,170
16,437
3,059
143,237


Charge for the year on owned assets
3,167
39,227
2,714
4,233
49,341


Disposals
-
(35,061)
-
-
(35,061)



At 30 September 2024

47,738
83,336
19,151
7,292
157,517



Net book value



At 30 September 2024
13,847
112,726
19,517
17,419
163,509



At 30 September 2023
12,294
155,699
5,881
20,485
194,359

Page 7

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
7,603
76,951

Other debtors
124,088
53,877

Prepayments and accrued income
11,582
10,835

143,273
141,663


Other debtors includes loans to directors of £72,709 (2023 - £31,577). Interest is charged at official rates.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
15,304
14,683

Other taxation and social security
87,561
102,265

Obligations under finance lease and hire purchase contracts
35,170
16,806

Accruals and deferred income
5,625
5,355

143,660
139,109


The bank overdraft is secured.
The "obligations under finance leases and hire purchase contracts" balance of £35,170 (2023 - £16,806) is secured over the assets which they relate to.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
29,973
65,144


The "obligations under finance leases and hire purchase contracts" balance of £29,973 (2023 - £65,144) is secured over the assets which they relate to.

Page 8

 
LEAH INTERNATIONAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



34 (2023 - 34) A shares of £1.00 each
34
34
33 (2023 - 33) B shares of £1.00 each
33
33
33 (2023 - 33) C shares of £1.00 each
33
33

100

100



Page 9