W J Leach Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC250253 (Scotland)

Financial Statements

for the Year Ended 31 May 2019

for

W J Leach Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr W J Leach

SECRETARY:

Dr A R Leach

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarktson

Glasgow

G76 7HU

REGISTERED NUMBER:

SC250253 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

72

103

72

103

CURRENT ASSETS

Debtors

6

12,026

14,767

Cash at bank

120,545

133,972

132,571

148,739

CREDITORS

Amounts falling due within one year

7

34,943

27,680

NET CURRENT ASSETS

97,628

121,059

TOTAL ASSETS LESS CURRENT LIABILITIES

97,700

121,162

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

97,600

121,062

SHAREHOLDERS' FUNDS

97,700

121,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 9 October 2019 and were signed by:

Dr W J Leach - Director

1.	STATUTORY INFORMATION

W J Leach Ltd. is a private company, limited by shares , registered in Scotland. 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 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 directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be

met as they fall due over a period of at least 12 months from the approval date of these financial statements.

Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of consultancy services and healthcare work. Income is

recognised when cash is received.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

30% on reducing balance

Computer equipment

-

33% on cost

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

50,000

AMORTISATION

At 1 June 2018

and 31 May 2019

50,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2018

and 31 May 2019

4,686

1,982

6,668

DEPRECIATION

At 1 June 2018

4,583

1,982

6,565

Charge for year

31

-

31

At 31 May 2019

4,614

1,982

6,596

NET BOOK VALUE

At 31 May 2019

72

-

72

At 31 May 2018

103

-

103

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

893

4,404

Other debtors

11,133

10,363

12,026

14,767

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

29,454

24,034

Other creditors

5,489

3,646

34,943

27,680

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100