Make the Leap Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04325972 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

MAKE THE LEAP LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J M Strong

SECRETARY:

Mrs M D Lamburn

REGISTERED OFFICE:

Riverside House

3 Place Farm

Wheathampstead

Hertfordshire

AL4 8SB

REGISTERED NUMBER:

04325972 (England and Wales)

ACCOUNTANTS:

Heartwood Accountants Limited

Riverside House

3 Place Farm

Wheathampstead

Hertfordshire

AL4 8SB

FIXED ASSETS

Intangible assets

4

2

2

Tangible assets

5

2

3

4

5

CURRENT ASSETS

Work in Progress

14,940

14,400

Cash at bank

69,277

35,260

84,217

49,660

CREDITORS

Amounts falling due within one year

64,842

31,116

NET CURRENT ASSETS

19,375

18,544

TOTAL ASSETS LESS CURRENT LIABILITIES

19,379

18,549

PROVISIONS FOR LIABILITIES

1

1

NET ASSETS

19,378

18,548

CAPITAL AND RESERVES

Called up share capital

9,000

9,000

Retained earnings

10,378

9,548

SHAREHOLDERS' FUNDS

19,378

18,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2021 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 director and authorised for issue on 21 June 2022 and were signed by:

J M Strong - Director

1.	STATUTORY INFORMATION

Make the Leap Ltd 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 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Trade Marks are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Computer equip

-

Straight line over 3 years

Stocks & wip

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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.

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 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2020

and 30 November 2021

11,531

AMORTISATION

At 1 December 2020

and 30 November 2021

11,529

NET BOOK VALUE

At 30 November 2021

2

At 30 November 2020

2

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2020

3,512

Disposals

(1,399

)

At 30 November 2021

2,113

DEPRECIATION

At 1 December 2020

3,509

Eliminated on disposal

(1,398

)

At 30 November 2021

2,111

NET BOOK VALUE

At 30 November 2021

2

At 30 November 2020

3

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

30.11.21

30.11.20

£

£

J M Strong

Balance outstanding at start of year

-

(5,276

)

Amounts repaid

-

5,276

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

7.	GOING CONCERN - COVID 19

The directors have considered the impact of the coronavirus pandemic on the company's financial position. Due to the nature of the services provided, the company was not impacted significantly by the pandemic and the financial statements do not include any adjustments as a result. A bounce back loan was taken but repaid in full February 2022.