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Registered number: 14032158 LEIGHTONS CLAPHAM LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
LEIGHTONS CLAPHAM LIMITED REGISTERED NUMBER: 14032158 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible fixed assets | 4 |  | 431,205 |  | -
Tangible fixed assets | 5 |  | 104,759 |  | -
|  |  | 535,964 |  | -
Current assets |  |  |  |  |
Stocks |  | 43,900 |  | - |
Debtors: amounts falling due within one year | 6 | 76,102 |  | 1 |
Cash at bank and in hand |  | 48,784 |  | - |
|  | 168,786 |  | 1 |
Creditors: amounts falling due within one year | 7 | (322,441) |  | - |
Net current (liabilities)/assets |  |  | (153,655) |  | 1
Total assets less current liabilities |  |  | 382,309 |  | 1
Creditors: amounts falling due after more than one year | 8 |  | (320,097) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (127) |  | - |
|  |  | (127) |  | -
Net assets |  |  | 62,085 |  | 1
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 1
Profit and loss account |  |  | 61,985 |  | -
|  |  | 62,085 |  | 1
Page 1
LEIGHTONS CLAPHAM LIMITED REGISTERED NUMBER: 14032158 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R P Leighton
Director
Date: 7 October 2025
The notes on pages 4 to 13 form part of these financial statements. Page 2
LEIGHTONS CLAPHAM LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
Contributions by and distributions to owners |  |  |
Shares issued during the year | 1 | - | 1
Total transactions with owners | 1 | - | 1
At 1 January 2024 | 1 | - | 1
Comprehensive income for the year |  |  |
Profit for the year | - | 61,985 | 61,985
Total comprehensive income for the year | - | 61,985 | 61,985
Contributions by and distributions to owners |  |  |
Shares issued during the year | 99 | - | 99
Total transactions with owners | 99 | - | 99
At 31 December 2024 | 100 | 61,985 | 62,085
| The notes on pages 4 to 13 form part of these financial statements.
Page 3
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Leightons Clapham Limited is a private company limited by shares. It is incorporated in England and Wales. Its registered number is 14032158 and registered office address is Clarendon House, 62-63 Downing Street, Farnham, Surrey, GU9 7PN. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Leightons Holdings Limited as at 31 December 2024 and these financial statements may be obtained from Clarendon House, 63 Downing Street, Farnham, Surrey, GU9 7PN.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 4
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Revenue (continued)
Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 5
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Goodwill | - | 10 | years
Page 6
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 5 years straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 7
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial Page 8
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The average monthly number of employees, including directors, during the year was 8 (2023 - 0).
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| Additions | 477,900
| At 31 December 2024 | 477,900
| Amortisation |
| Charge for the year on owned assets | 46,695
| At 31 December 2024 | 46,695
| Net book value |
| At 31 December 2024 | 431,205
| At 31 December 2023 | -
Page 9
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| Additions | 134,029
| Disposals | (3,811)
| At 31 December 2024 | 130,218
| Depreciation |
| Charge for the year on owned assets | 26,206
| Disposals | (746)
| At 31 December 2024 | 25,460
| Net book value |
| At 31 December 2024 | 104,758
| At 31 December 2023 | -
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 27,439 | -
| Amounts owed by group undertakings | 773 | 1
| Other debtors | 30,010 | -
| Prepayments and accrued income | 17,880 | -
|  | 76,102 | 1
Page 10
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 25,981 | -
| Amounts owed to group undertakings | 130,205 | -
| Corporation tax | 40,559 | -
| Other taxation and social security | 4,784 | -
| Other creditors | 95,784 | -
| Accruals and deferred income | 25,128 | -
|  | 322,441 | -
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 165,503 | -
| Other creditors | 154,594 | -
|  | 320,097 | -
9. | Deferred taxation
|  | 2024
|  | £
| Charged to profit or loss | (127)
| At end of year | (127)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (127) | -
Page 11
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 51 (2023 - ) Ordinary A shares of £1.00 each | 51 | -
|  | 49 (2023 - ) Ordinary B shares of £1.00 each | 49 | -
|  | 0 (2023 - 1) Ordinary shares of £1.00 each | - | 1
|  |  | 100 | 1
During the year 50 ordinary A shares and 49 ordinary B shares were issued at par (2023 1 ordinary share was issued at par). In 2024 the ordinary share was converted to an A ordinary share.
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,184 (2023 - £nil). Contributions totalling £nil (2023 - £nil) were payable to the fund at the reporting date and are included in creditors.
12. | Related party transactions
| The company has taken advantage of the exemption conferred by section 33 in Financial Reporting Standard 102 "Related party disclosures" not to disclose transactions with wholly owned members of the group headed by Leightons Holdings Limited. During the year the company acquired the trade and net assets of a business in which N Clapham had a beneficial interest for consideration of £380,827 and 49 B ordinary shares. £105,512 was paid in the year and £275,315 is included in other creditors at the balance sheet date. This has been discounted by £29,201 to give the present value of future cash flows at £246,114. During the year the company acquired the trade and net assets of a branch of Leightons Limited for consideration of £336,950 and 50 A ordinary shares. £34,255 was paid in the year and £302,695 is included in other creditors at the balance sheet date. This has been discounted by £31,232 to give the present value of future cash flows at £217,463.
13. | Controlling party
The immediate parent company is Leightons Limited and the ultimate parent company is Leightons Holdings Limited, both incorporated in England and Wales. The immediate and ultimate parent companies registered office addresses are Clarendon House, 63 Downing Street, Farnham, Surrey, GU9 7PN. Leightons Holdings Limited is the largest and smallest company in the group that prepares consolidated accounts. The consolidated accounts can be obtained from Companies House. Page 12
LEIGHTONS CLAPHAM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 15 October 2025 by Stephen Morgan FCA (Senior statutory auditor) on behalf of Shaw Gibbs (Audit) Limited.
Page 13