THE LEADMILL LIMITED

THE LEADMILL LIMITED

THE LEADMILL LIMITED - Company Information

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THE LEADMILL LIMITED

Company Registration Number:
03060761 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2019

Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

THE LEADMILL LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Balance sheet
Notes

THE LEADMILL LIMITED

Balance sheet

As at 31 March 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 309,914 297,009
Total fixed assets: 309,914 297,009
Current assets
Stocks: 20,124 19,875
Debtors: 4 516,354 582,315
Cash at bank and in hand: 538,764 275,676
Investments:   1,800 1,800
Total current assets: 1,077,042 879,666
Creditors: amounts falling due within one year: 5 (397,115) (500,499)
Net current assets (liabilities): 679,927 379,167
Total assets less current liabilities: 989,841 676,176
Creditors: amounts falling due after more than one year:     (2,177)
Total net assets (liabilities): 989,841 673,999
Capital and reserves
Called up share capital: 600 600
Share premium account: 13,855 13,855
Other reserves: 300 300
Profit and loss account: 975,086 659,244
Shareholders funds: 989,841 673,999

The notes form part of these financial statements

THE LEADMILL LIMITED

Balance sheet statements

For the year ending 31 March 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 September 2019
and signed on behalf of the board by:

Name: P H Mills
Status: Director

The notes form part of these financial statements

THE LEADMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tangible fixed assets and depreciation policy

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Depreciation:Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:Leasehold property improvements - 10% straight lineFixtures, fittings & equipment - 20-55% reducing balance

Valuation and information policy

Stocks:Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Other accounting policies

Tax:The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

THE LEADMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Employees

2019 2018
Average number of employees during the period 79 80

THE LEADMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Tangible Assets

Total
Cost £
At 01 April 2018 1,112,150
Additions 86,416
At 31 March 2019 1,198,566
Depreciation
At 01 April 2018 815,141
Charge for year 73,511
At 31 March 2019 888,652
Net book value
At 31 March 2019 309,914
At 31 March 2018 297,009

THE LEADMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Debtors

Trade debtors 12,253Amounts owed by related parties 406,146Other debtors 26,219Prepayments 71,736

THE LEADMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

5. Creditors: amounts falling due within one year note

Loans and borrowings 2,000Trade creditors 117,266Social security and other taxes 63,718Other payables 136,849Accrued expenses 49,385Income tax liability 27,897