Leehand Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02603758 (England and Wales)

Leehand Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

CM Walker

FM Cochrane

AS Glassbrook

SECRETARY:

FM Cochrane

REGISTERED OFFICE:

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

REGISTERED NUMBER:

02603758 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

CURRENT ASSETS

Stocks

-

244,249

Debtors

4

-

6,866

Cash at bank

542,661

163,318

542,661

414,433

CREDITORS

Amounts falling due within one year

5

371,695

354,386

NET CURRENT ASSETS

170,966

60,047

TOTAL ASSETS LESS CURRENT LIABILITIES

170,966

60,047

CAPITAL AND RESERVES

Called up share capital

6

1,001,998

1,001,998

Retained earnings

(831,032

)

(941,951

)

SHAREHOLDERS' FUNDS

170,966

60,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2022 and were signed on its behalf by:

FM Cochrane - Director

1.	STATUTORY INFORMATION

Leehand Properties 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.

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

Monetary amounts in these financial statements have been rounded to the nearest £1.

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

Revenue is recognised, in respect of contracts where the company's contractual obligations are performed gradually over time, as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed. Revenue from property sales is recognised on legal completion.

Stocks

Work-in-progress is stated at the lower of cost and net realisable value. Cost includes the cost of direct materials and legal and professional fees plus attributable overhead, where applicable. The attributable profit on long-term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit reflects the proportion of the work on the contract completed to date. Full provision is made for losses on all contracts in the year in which the loss is first foreseen.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

-

6,670

Prepayments and accrued income

-

196

-

6,866

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

(684

)

-

Amounts owed to group undertakings

341,850

341,850

Corporation tax

19,192

-

Accruals and deferred income

11,337

12,536

371,695

354,386

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1,999

Ordinary

£1

1,999

1,999

999,999

Ordinary non voting

£1

999,999

999,999

1,001,998

1,001,998

The shares have attached to them full voting, dividend and capital distribution rights.

7.	RELATED PARTY DISCLOSURES

In the opinion of the directors the company is ultimately controlled by the members of Leehand Limited with no one member having overall control.

8.	ULTIMATE PARENT COMPANY

The ultimate parent company is Leehand Limited, whose registered office in the United Kingdom.

Leehand Limited prepare consolidated accounts which include the results of this entity and its fellow subsidiary Leehand Leisure Limited. A copy of those consolidated accounts can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.