Leadgates Developments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07883867

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Stocks	5	3,092,882		2,988,300
Debtors	6	2,573,716		463,822
Cash at bank and in hand		9,255		410,007

		5,675,853		3,862,129
Creditors: Amounts Falling Due Within One Year	7	(2,044,833 )		12,560

NET CURRENT ASSETS (LIABILITIES)			3,631,020		3,874,689

TOTAL ASSETS LESS CURRENT LIABILITIES			3,631,020		3,874,689

Creditors: Amounts Falling Due After More Than One Year	8		(313,548 )		(564,456 )

NET ASSETS			3,317,472		3,310,233

CAPITAL AND RESERVES
Called up share capital	9		2,620,813		2,620,813
Profit and Loss Account			696,659		689,420

SHAREHOLDERS' FUNDS			3,317,472		3,310,233

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Leadgates Developments Limited

Balance Sheet (continued)

As At 31 December 2024

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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Robert Thompson

Director

30/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Leadgates Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07883867 . The registered office is 19 Millfield Road Whickham, Newcastle Upon Tyne, NE16 4QA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% and 4% Straight Line
Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	20% Straight Line
Computer Equipment	33% Straight Line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

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Leadgates Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	5,941

As at 31 December 2024	5,941

Depreciation
As at 1 January 2024	5,941

As at 31 December 2024	5,941

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Stocks

	2024	2023
	£	£
Work in progress	3,092,882	2,988,300

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	3,395	457
Other debtors	2,529,300	427,302
VAT	10,101	5,143

	2,542,796	432,902
Due after more than one year
Deferred tax current asset	30,920	30,920

	2,573,716	463,822

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Corporation tax	(40,024 )	(16,461 )
Other creditors	2,080,956	-
Accruals and deferred income	2,000	2,000
Directors' loan accounts	1,901	1,901

	2,044,833	(12,560 )

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Directors loan account	313,548	564,456

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Leadgates Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2,620,813	2,620,813

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