REGISTERED NUMBER: 02603376 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LEATHERGRACE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T Malhotra

Mr A Malhotra

REGISTERED OFFICE:

Lloyd Baker House

Travellers Lane

Welham Green

Hertfordshire

AL9 7HF

REGISTERED NUMBER:

02603376 (England and Wales)

SENIOR STATUTORY AUDITOR:

Thurairatnam Sudarshan FCCA

AUDITORS:

Xeinadin Audit Limited Chartered Accountants

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Tangible assets

4

4,396

5,862

CURRENT ASSETS

Stocks

20,950

39,900

Debtors

917,163

817,055

Cash at bank and in hand

5,774

38,837

943,887

895,792

CREDITORS

Amounts falling due within one year

60,818

54,336

NET CURRENT ASSETS

883,069

841,456

TOTAL ASSETS LESS CURRENT LIABILITIES

887,465

847,318

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

886,465

846,318

887,465

847,318

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

Mr A Malhotra - Director

1.	STATUTORY INFORMATION

Leathergrace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The director has assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The director has made this assessment in respect to a period of at least twelve months from when the financial statements are authorised for issue.

The director has concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as going concern. The director is of the opinion that the company will have sufficient resources to meet its liabilities as they fall due with the continued support of the group companies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value f the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

368,154

DEPRECIATION

At 1 April 2024

362,292

Charge for year

1,466

At 31 March 2025

363,758

NET BOOK VALUE

At 31 March 2025

4,396

At 31 March 2024

5,862

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited Chartered Accountants

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with whollyowned subsidiaries within the group.

7.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Lloyd Baker Group Limited, a company registered in the United Kingdom. During the current and previous year, the company was controlled by the directors, Mr A Malhotra and Mr T Malhotra, by virtue of their controlling ownership in the issued capital of Lloyd Baker Group Limited, the parent company.