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Company Registration No. 05583998 (England and Wales)
Leon Haslam Limited Unaudited accounts for the year ended 31 December 2024
Leon Haslam Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Leon Haslam Limited Company Information for the year ended 31 December 2024
Director
Leon Haslam
Secretary
Ann Haslam
Company Number
05583998 (England and Wales)
Registered Office
West Meadow Farm 123 Main Road Smalley Ilkeston Derbyshire DE7 6DT United Kingdom
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Leon Haslam Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Intangible assets
4
5,594
6,596
Tangible assets
5
5,926
9,581
11,520
16,177
Current assets
Debtors
6
125,656
139,284
Cash at bank and in hand
1,693
3,767
127,349
143,051
Creditors: amounts falling due within one year
7
(56,549)
(52,499)
Net current assets
70,800
90,552
Total assets less current liabilities
82,320
106,729
Creditors: amounts falling due after more than one year
8
(5,996)
(16,087)
Net assets
76,324
90,642
Capital and reserves
Called up share capital
9
100
100
Capital contribution reserve
(69,765)
(75,223)
Profit and loss account
145,989
165,765
Shareholders' funds
76,324
90,642
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 August 2025 and were signed on its behalf by
Leon Haslam Director Company Registration No. 05583998
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Leon Haslam Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Leon Haslam Limited is a private company, limited by shares, registered in England and Wales, registration number 05583998. The registered office is West Meadow Farm, 123 Main Road, Smalley, Ilkeston, Derbyshire, DE7 6DT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and is recognised at the point in time when the sale is provided.
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises deferred 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. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing differences.
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Leon Haslam Limited Notes to the Accounts for the year ended 31 December 2024
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet 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. 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 :
Motor vehicles
25% straight line
Computer equipment
33% straight line
Other tangible fixed assets
20% straight line
Intangible fixed assets
The intangible asset is recognised initially at cost. Subsequent measurement is recognised at cost less accumulated amortisation, using the cost model. Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows Cryptocurrency investment - 10% straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction cots. 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 profit and loss account 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.
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Leon Haslam Limited Notes to the Accounts for the year ended 31 December 2024
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.
Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contribution even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024
10,020
At 31 December 2024
10,020
Amortisation
At 1 January 2024
3,424
Charge for the year
1,002
At 31 December 2024
4,426
Net book value
At 31 December 2024
5,594
At 31 December 2023
6,596
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Leon Haslam Limited Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
19,332
124,242
6,965
150,539
Additions
1,307
-
-
1,307
At 31 December 2024
20,639
124,242
6,965
151,846
Depreciation
At 1 January 2024
19,234
117,247
4,477
140,958
Charge for the year
151
3,878
933
4,962
At 31 December 2024
19,385
121,125
5,410
145,920
Net book value
At 31 December 2024
1,254
3,117
1,555
5,926
At 31 December 2023
98
6,995
2,488
9,581
6
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
-
513
Accrued income and prepayments
491
620
Other debtors
125,165
138,151
125,656
139,284
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,684
9,724
VAT
2,362
-
Trade creditors
3,165
52
Taxes and social security
-
281
Other creditors
30,087
37,287
Loans from directors
-
574
Accruals
1,251
4,581
Deferred income
10,000
-
56,549
52,499
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
5,996
16,087
9
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
- 8 -
Leon Haslam Limited Notes to the Accounts for the year ended 31 December 2024
10
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Directors Loan Account
(574)
14,931
12,000
2,357
(574)
14,931
12,000
2,357
At 31st December the director owed £2,357 (2024 - was due £574). This amount was repaid within nine months of the year end.
11
Transactions with related parties
Included within other debtors are the following balances, in respect of companies which are related by virtue of common ownership and directorship : At the year end an amount of £45,998 (2023 - £43,998) was owed by Leon Haslam Properties Limited. This loan was interest free and is due for repayment after more than 1 year. As such this loan has been shown as a non current debtor and discounted to reflect present value. Impairment has been transferred to equity and is to be unwound to the profit and loss account, each year, over the full term of the loan. At the year end an amount of £53,810 (2023 - £68,153) was owed by Affinity Sports Academy Limited. This loan was interest free, and is due for repayment after more than 1 year. As such this loan has been shown as a non current debtor and discounted to reflect present value. Impairment has been transferred to equity and is to be unwound to the profit and loss account, teach year, over the full term of the loan. At the year end an amount of £18,000 (2023 - £26,000) was owed by Fun Fitness Limited. At the year end an amount of £25,131 (2023 - £31,977) was owed to Ron Haslam Racing Academy Limited. The company remunerates the directors with a combination of salary, pension contributions and dividends, all of which are deemed to be within the normal course of business.
12
Average number of employees
During the year the average number of employees was 1 (2023: 2).
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