Company registration number 04325723 (England and Wales)
LEEMAR UPHOLSTERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LEEMAR UPHOLSTERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LEEMAR UPHOLSTERY LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,447
9,564
Current assets
Stocks
2,025
2,025
Debtors
4
98,867
40,687
Cash at bank and in hand
15,701
1,104
116,593
43,816
Creditors: amounts falling due within one year
5
(242,202)
(123,711)
Net current liabilities
(125,609)
(79,895)
Total assets less current liabilities
(115,162)
(70,331)
Creditors: amounts falling due after more than one year
6
(10,364)
(18,736)
Net liabilities
(125,526)
(89,067)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(125,726)
(89,267)
Total equity
(125,526)
(89,067)
LEEMAR UPHOLSTERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Russell Blizzard
Director
Company registration number 04325723 (England and Wales)
LEEMAR UPHOLSTERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Leemar Upholstery Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Stamford Street, Stourbridge, West Midlands, DY8 4HR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
LEEMAR UPHOLSTERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
17,050
Additions
833
At 30 November 2024
17,883
Depreciation and impairment
At 1 December 2023 and 30 November 2024
7,436
Carrying amount
At 30 November 2024
10,447
At 30 November 2023
9,564
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
98,867
40,687
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
105,809
65,877
Taxation and social security
73,461
34,989
Other creditors
62,932
22,845
242,202
123,711
LEEMAR UPHOLSTERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,364
18,736