Leicester Street Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04377341

Unaudited Financial Statements

For The Year Ended 30 April 2021

for

Leicester Street Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Mullins

Mrs H E R Mullins

SECRETARY:

Q J Mullins

REGISTERED OFFICE:

Avalon House

Waltham Business Park

Brickyard Road, Swanmore

Southampton

Hampshire

SO32 2SA

REGISTERED NUMBER:

04377341

ACCOUNTANTS:

Butler & Co (Bishops Waltham) Limited

Chartered Accountants

Avalon House

Waltham Business Park

Brickyard Road, Swanmore

Southampton

Hampshire

SO32 2SA

FIXED ASSETS

Tangible assets

5

652

260

Investment property

6

225,000

175,000

225,652

175,260

CURRENT ASSETS

Debtors

7

759

312

Cash at bank

5,290

2,432

6,049

2,744

CREDITORS

Amounts falling due within one year

8

79,479

83,542

NET CURRENT LIABILITIES

(73,430

)

(80,798

)

TOTAL ASSETS LESS CURRENT LIABILITIES

152,222

94,462

PROVISIONS FOR LIABILITIES

19,580

10,005

NET ASSETS

132,642

84,457

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132,542

84,357

SHAREHOLDERS' FUNDS

132,642

84,457

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2021 and were signed on its behalf by:

D J Mullins - Director

1.	STATUTORY INFORMATION

Leicester Street Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Plant and machinery

-

20% reducing balance basis

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 May 2020

170

2,882

3,052

Additions

-

641

641

Disposals

-

(2,433

)

(2,433

)

At 30 April 2021

170

1,090

1,260

DEPRECIATION

At 1 May 2020

134

2,658

2,792

Charge for year

7

242

249

Eliminated on disposal

-

(2,433

)

(2,433

)

At 30 April 2021

141

467

608

NET BOOK VALUE

At 30 April 2021

29

623

652

At 30 April 2020

36

224

260

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2020

175,000

Revaluations

50,000

At 30 April 2021

225,000

NET BOOK VALUE

At 30 April 2021

225,000

At 30 April 2020

175,000

Fair value at 30 April 2021 is represented by:

£

Valuation in 2010

52,401

Valuation in 2021

50,000

Cost

122,599

225,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

405

-

Prepayments

354

312

759

312

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade creditors

-

91

Tax

1,728

2,653

VAT

179

626

Directors' current accounts

76,562

79,162

Accrued expenses

1,010

1,010

79,479

83,542

9.

COVID-19

In common with many other companies, the outbreak of COVID-19 in the UK and the measures being taken to control its spread have had a detrimental impact on our business, specifically with regard to reducing the rents due to the company to assist the tenant whilst trade was bad.

The director believes the company holds sufficient working capital and available funds to enable the company to prepare the financial statements on a going concern basis, and that no further adjustments are to be made in respect to the assets or debts due to or from the company as at the balance sheet date due to post balance sheet events.