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Registration number: 14622953

Leapsand Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 January 2025

 

Leapsand Limited

(Registration number: 14622953)
Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

787

142,095

Investment property

5

672,513

332,784

 

673,300

474,879

Current assets

 

Debtors

6

4,497

7,520

Cash at bank and in hand

 

24,818

12,418

 

29,315

19,938

Creditors: Amounts falling due within one year

7

(318,063)

(266,510)

Net current liabilities

 

(288,748)

(246,572)

Total assets less current liabilities

 

384,552

228,307

Creditors: Amounts falling due after more than one year

7

(374,320)

(240,039)

Net assets/(liabilities)

 

10,232

(11,732)

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

10,222

(11,742)

Shareholders' funds/(deficit)

 

10,232

(11,732)

 

Leapsand Limited

(Registration number: 14622953)
Statement of Financial Position as at 31 January 2025

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 14 May 2025
 

.........................................
Mr R J Bounds
Director

 

Leapsand Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Leapsand Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Plant and machinery

2% Straight Line

Investment property

Investment property, being property held to earn rentals or for capital appreciation or both, is measured initially
at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are
recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Leapsand Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2024

144,995

-

144,995

Additions

-

1,049

1,049

Transfers

(144,995)

-

(144,995)

At 31 January 2025

-

1,049

1,049

Depreciation

At 1 February 2024

2,900

-

2,900

Charge for the year

-

262

262

Transfers

(2,900)

-

(2,900)

At 31 January 2025

-

262

262

Carrying amount

At 31 January 2025

-

787

787

At 31 January 2024

142,095

-

142,095

5

Investment properties

2025
£

At 1 February 2024

332,784

Additions

194,734

Transfers to and from property, plant and equipment

144,995

At 31 January 2025

672,513

There has been no valuation of investment property by an independent valuer.

6

Debtors

2025
£

2024
£

Trade debtors

2,413

-

Other debtors

900

-

Prepayments

1,184

7,520

4,497

7,520

 

Leapsand Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Taxation and social security

1,202

-

Accruals and deferred income

11,637

10,247

Other creditors

305,224

256,263

318,063

266,510

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Loans and borrowings

8

374,320

240,039

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

374,320

240,039