Company No:
Contents
| DIRECTORS | J H Barrell |
| R G Eustace |
| REGISTERED OFFICE | 41 St. Peters Grove |
| London | |
| W6 9AY | |
| United Kingdom |
| COMPANY NUMBER | 11031734 (England and Wales) |
| ACCOUNTANT | S&W Partners LLP |
| 103 Colmore Row | |
| Birmingham | |
| B3 3AG |
| Note | 2024 | 2023 | ||
| € | € | |||
| Fixed assets | ||||
| Investments | 3 |
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| 25,000 | 25,000 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 4,026,728 | 4,017,088 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current assets | 464,353 | 455,677 | ||
| Total assets less current liabilities | 489,353 | 480,677 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Leipzig Investments Limited (registered number:
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J H Barrell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Leipzig Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 41 St. Peters Grove, London, W6 9AY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Leipzig Investments Limited is considered to be EUR because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
| 2024 | |
| € | |
| Cost | |
| At 01 November 2023 |
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| At 31 October 2024 |
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| Carrying value at 31 October 2024 |
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| Carrying value at 31 October 2023 |
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| 2024 | 2023 | ||
| € | € | ||
| Accrued income |
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| Other debtors |
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| 2024 | 2023 | ||
| € | € | ||
| Amounts owed to directors |
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| Accruals |
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| Taxation and social security |
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Transactions with owners holding a participating interest in the entity
As at the year end, the Company had outstanding loans, which are payable to shareholders, of €3,553,680 (2023 - €3,553,680). These loans are interest free and repayable on demand.
Other related party transactions
As at the year end, the Company had oustanding loans, which are repayable from its subsidiary of €3,850,000 (2023 - €3,850,000). Interest is accruing on €3,000,000 of the loans at 0.1% per annum, and on the remaining €850,000 of the loans at 0.4% per annum. These loans are repayable on demand. The total amount due to the Company, including interest at the year end was €4,008,321 (2023 - €4,014,128).
The directors do not consider there to be an ultimate controlling party.