Leedsheath Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01400222 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

FOR

LEEDSHEATH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Skidmore

Mrs P Skidmore

G A Skidmore

SECRETARY:

Mrs P Skidmore

REGISTERED OFFICE:

Westfield Road

Slyfield Industrial Estate

Guildford

Surrey

GU1 1RR

REGISTERED NUMBER:

01400222 (England and Wales)

ACCOUNTANTS:

P.G. Draper

3 Quarry Close

Green Lane

Leatherhead

Surrey

KT22 8US

FIXED ASSETS

Tangible assets

4

657,016

707,117

CURRENT ASSETS

Stocks

15,373

18,818

Debtors

5

288,221

295,280

Cash at bank

875,336

702,575

1,178,930

1,016,673

CREDITORS

Amounts falling due within one year

6

264,927

229,258

NET CURRENT ASSETS

914,003

787,415

TOTAL ASSETS LESS CURRENT LIABILITIES

1,571,019

1,494,532

PROVISIONS FOR LIABILITIES

46,875

54,878

NET ASSETS

1,524,144

1,439,654

CAPITAL AND RESERVES

Called up share capital

25

25

Revaluation reserve

7

54,986

56,064

Retained earnings

1,469,133

1,383,565

SHAREHOLDERS' FUNDS

1,524,144

1,439,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 7th March 2019 and were signed on its behalf by:

G A Skidmore - Director

1.	STATUTORY INFORMATION

Leedsheath 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

Long leasehold

-

over remaining period of lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1st January 2018

599,415

1,231,028

57,667

67,764

1,955,874

Additions

-

4,805

-

-

4,805

At 31st December 2018

599,415

1,235,833

57,667

67,764

1,960,679

DEPRECIATION

At 1st January 2018

181,130

979,185

49,428

39,014

1,248,757

Charge for year

7,980

38,498

1,239

7,189

54,906

At 31st December 2018

189,110

1,017,683

50,667

46,203

1,303,663

NET BOOK VALUE

At 31st December 2018

410,305

218,150

7,000

21,561

657,016

At 31st December 2017

418,285

251,843

8,239

28,750

707,117

The leasehold property includes a previous revaluation. The transitional provisions of the Financial Reporting for

Smaller Entities are being followed. The last revaluation was made during April, 1988, and has not been updated

since that date. The historical cost of leasehold property is £511,011 (2016 : £511,011).

Cost or valuation at 31st December 2018 is represented by:

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 1988

325,000

-

-

-

325,000

Cost

274,415

1,235,833

57,667

67,764

1,635,679

599,415

1,235,833

57,667

67,764

1,960,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

268,209

277,937

Other debtors

20,012

17,343

288,221

295,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

126,247

71,662

Taxation and social security

107,307

135,065

Other creditors

31,373

22,531

264,927

229,258

7.

RESERVES

Revaluation

reserve

£

At 1st January 2018

56,064

Released to profit and loss account

(1,078

)

At 31st December 2018

54,986