Registration number:
Leonard Tomlinson Limited
for the Year Ended 31 March 2025
Leonard Tomlinson Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Leonard Tomlinson Limited
(Registration number: 00601054)
Balance Sheet as at 31 March 2025
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2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Leonard Tomlinson Limited
(Registration number: 00601054)
Balance Sheet as at 31 March 2025
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Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Pound sterling (£), which is the functional and presentational currency of the company.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the Company, net of value added tax and trade discounts and is recognised on an accruals basis.
Tax
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. For investment property that is measured at fair value, deferred tax is provided at the rates and allowances applicable to the sale of the asset/property. Deferred tax balances are not discounted.
Tangible assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items of tangible fixed assets, for example land is treated separately from buildings.
The company assesses at each reporting date whether tangible fixed assets (including those leased under a finance lease) are impaired.
Depreciation
Depreciation is charged to the profit and loss account on a straight-line basis over the estimated useful lives of each part of an item of tangible fixed assets. Leased assets are depreciated over the shorter of the lease term and their useful lives. Land is not depreciated.
Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset’s future economic benefits.
The depreciation rates used are as follows:-
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Asset class |
Depreciation method and rate |
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Buildings |
2% on cost |
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Plant and machinery |
15% reducing balance |
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Fixtures and fittings |
20% on cost |
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Office equipment |
33.33% on cost |
Investment property
Subsequent to initial recognition
(i) investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise; and
(ii) no depreciation is provided in respect of investment properties applying the fair value model.
If a reliable measure is not available without undue cost or effort for an item of investment property, this item is thereafter accounted for as tangible fixed assets in accordance with Section 17 of FRS 102 until a reliable measure of fair value becomes available.
Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits with original maturity of less than 90 days.
Trade debtors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is determined on a first in first out basis, and includes all direct costs incurred in acquiring the stocks and other costs in bringing them to their existing location and condition. Net realisable value is based on estimated selling price allowing for all further costs of disposal.
Trade creditors
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsquently 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 unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Payments made under operating leases are recognised in the profit and loss account on a straight-line basis over the term 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 dividends are declared.
Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Defined contribution pension obligation
A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts.
Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Included within the net book value of land and buildings above is £140,773 (2024 - £148,024) in respect of freehold land and buildings.
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Investment properties |
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2025 |
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At 1 April |
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At 31 March |
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The investment property fair value as at 31 March 2025 is based on the Directors’ valuation taking into account the relatively stable market environment and yield since the last valuation.
Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
The most recent formal valuation was performed on 25 September 2014 by Barnsdales Valuation Limited, Registered external independent valuers holding an appropriate recognised professional qualification and with recent experience in the location and class of properties being valued.
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Stocks |
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2025 |
2024 |
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Goods for resale |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Prepayments |
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Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Corporation tax payable |
56,796 |
67,406 |
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Other creditors |
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Accrued expenses |
12,155 |
11,570 |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Related Party loans |
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The Related Party loans are unsecured, interest free and are repayable on demand. There is no intention to demand repayment of outstanding balances due to it from the Company for at least 12 months from the date of signing of the Company's 31 March 2025 financial statements, unless the Company is able to settle such demands without impacting the going concern of the Company. The loan is recorded as its nominal amount and not discounted as there are no clear repayment terms. The loans are therefore classed as falling due after one year.
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Related party transactions |
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Other transactions with directors |
At 31 March 2025 the company owed £210 (2024: £210) to director J M Tomlinson.
Summary of transactions with parent
Leonard Tomlinson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Mooar Properties Limited is incorporated in the Isle of Man, Reg No. 132301C, with registered office address 2nd Floor, St Mary's Court, 20 Hill Street, Douglas, IM1 1EU, Isle of Man. Mooar Properties Limited is under the control of D M Tomlinson.
Summary of transactions with other related parties
Director J M Tomlinson is also a director of MAG Rotherham Limited, a subsidiary of Mooar Ltd.
MAG Rotherham Limited charged Leonard Tomlinson Limited £40,400 (2024: £40,400) in management charges.
Debtors include £20,834 (2024: £1,703) payable from MAG Rotherham Limited.
Included in creditors is an amount of £2,090 (2024: £7,180) payable to MAG Rotherham Limited.
The company received rent collection fees from the Mooar Pension Scheme of £16,502 (2024: £17,861) for this service.
Included in receivables is an amount of £5,376 (2024: £17,639) due from Mooar Pension Scheme and an amount of £15,000 (2024: £15,000) due from Mooar Ltd.
Related Party Loans disclosed in note 11 were due to D M Tomlinson.