Company registration number 03989812 (England and Wales)
LEADLEY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LEADLEY LIMITED
COMPANY INFORMATION
Directors
Mrs R E Leadley
Mr P L Drown
Miss E G Leadley
Miss P E Leadley
Company number
03989812
Registered office
82 St John Street
London
EC1M 4JN
Accountants
BM Connect Limited
82 St John Street
London
EC1M 4JN
Bankers
HSBC Bank Plc
Market Place
Newark
NG24 1EQ
Investment managers
Rothschild & Co Wealth Management UK Limited
New Court, St Swithin's Lane
London
EC4N 8AL
LEADLEY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
LEADLEY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
192
1,649
Investment property
4
2,700,000
2,700,000
Investments
5
14,475,527
14,362,710
17,175,719
17,064,359
Current assets
Debtors
6
9,244
8,273
Cash at bank and in hand
158,713
107,218
167,957
115,491
Creditors: amounts falling due within one year
7
(5,946,911)
(6,384,228)
Net current liabilities
(5,778,954)
(6,268,737)
Total assets less current liabilities
11,396,765
10,795,622
Provisions for liabilities
(1,405,684)
(1,197,114)
Net assets
9,991,081
9,598,508
Capital and reserves
Called up share capital
9
75,000
75,000
Share premium account
5,034
5,034
Other reserves
5,853,585
4,810,733
Profit and loss reserves
4,057,462
4,707,741
Total equity
9,991,081
9,598,508

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

LEADLEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 April 2026 and are signed on its behalf by:
Mr P L Drown
Director
Company Registration No. 03989812
LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Leadley Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents income from investments, including dividends, interest and rental income. Rental income is recognised evenly over the length of the lease and dividend income is recognised when the right to receive payment is established.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment
33.33% straight line

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Fixed asset investments

Fixed asset investments, which include shares in property ventures and other listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

Fair value is determined with reference to the quoted price on an active market.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.7
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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025 and 31 December 2025
15,576
Depreciation and impairment
At 1 January 2025
13,927
Depreciation charged in the year
1,457
At 31 December 2025
15,384
Carrying amount
At 31 December 2025
192
At 31 December 2024
1,649
4
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
2,700,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2025 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If the investment property had not been revalued, it would be held at historical cost of £2,162,026 (2024: £2,162,026).

5
Fixed asset investments
2025
2024
£
£
Listed investments
14,475,527
14,362,710

Listed investments included above:

Listed investments carrying amount
14,475,527
14,362,710
LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Listed Investments
£
Cost or valuation
At 1 January 2025
14,362,710
Additions
108,146
Valuation changes
438,596
Disposals
(433,925)
At 31 December 2025
14,475,527
Carrying amount
At 31 December 2025
14,475,527
At 31 December 2024
14,362,710
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
9,244
8,273
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
5,596
4,339
Corporation tax
18,708
86,762
Other taxation and social security
-
0
20
Other creditors
1,723
1,621
Accruals and deferred income
5,625
5,625
Shareholders loans
5,915,259
6,285,861
5,946,911
6,384,228
8
Provisions for liabilities
2025
2024
£
£
Deferred tax
1,405,684
1,197,114
LEADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
75,000 Ordinary shares of £1 each
75,000
75,000
75,000
75,000
10
Related party transactions

Included within shareholders loans are amounts of £5,337,982 (2024: £5,708,584) due to Mrs R E Leadley, £2 88,638 (2024: £2 88,638) due to Miss P E Leadley and £2 88,639 (2024: £2 88,63 9) due to Miss E G Leadley, directors of the company. The loans are repayable on demand.

During the year, the company was charged £30,250 plus VAT of £6,050 (2024: £30,250 plus VAT of £6,050) by Beavis Morgan LLP in respect of professional services. £30,250 plus VAT of £6,050 relates to the services of Mr P L Drown, a director. Mr P L Drown is a partner in Beavis Morgan LLP.

Also during the year the company was charged £9,900 plus VAT of £1,980 (20 24: £9,075 plus VAT of £1,815) by BM Connect Limited for accountancy services. Mr P L Drown is also a director in BM Connect Limited.

Dividends totalling £1,500 (20 24: £3,000) were paid in the year in respect of shares held by three of the company's directors.

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