Abbreviated Company Accounts - LEATHER CONNECTION LIMITED

LEATHER CONNECTION LIMITED - Company Information

Registered Number 05003870

LEATHER CONNECTION LIMITED

Abbreviated Accounts

31 December 2014

LEATHER CONNECTION LIMITED Registered Number 05003870

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	15,000	15,000
Tangible assets	3	37,338	36,120
Investments	4	230,425	240,000
		282,763	291,120
Current assets
Stocks		5,718	4,263
Debtors	5	478,534	391,988
Cash at bank and in hand		109,988	54,818
		594,240	451,069
Creditors: amounts falling due within one year		(222,518)	(151,088)
Net current assets (liabilities)		371,722	299,981
Total assets less current liabilities		654,485	591,101
Creditors: amounts falling due after more than one year		(23,185)	(24,917)
Total net assets (liabilities)		631,300	566,184
Capital and reserves
Called up share capital		2	2
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		631,298	566,182
Shareholders' funds		631,300	566,184

For the year ending 31 December 2014 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 September 2015

And signed on their behalf by:
F MUNSHI, Director

LEATHER CONNECTION LIMITED Registered Number 05003870

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of discounts and value added tax.

Tangible assets depreciation policy
Depreciation is provided at the rates below to write down the costs of fixed assets to their expected residual values over their anticipated useful lives in the business.
Asset Rate Basis

Plant & Machinery 20% Straight Line
Furniture, fixtures and equipment 10% Straight Line
Motor Vehicles 25% Straight Line

Depreciation is charged in full in the year of acquisition of an asset, but no depreciation is charged in the year of disposal.

Intangible assets amortisation policy
Acquired goodwill is stated at cost

Valuation information and policy
The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Other accounting policies
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

2Intangible fixed assets

	£
Cost
At 1 January 2014	15,000
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 31 December 2014	15,000
Amortisation
At 1 January 2014	0
Charge for the year	0
On disposals	0
At 31 December 2014	0
Net book values
At 31 December 2014	15,000
At 31 December 2013	15,000

3Tangible fixed assets

	£
Cost
At 1 January 2014	155,228
Additions	5,000
Disposals	0
Revaluations	0
Transfers	0
At 31 December 2014	160,228
Depreciation
At 1 January 2014	119,108
Charge for the year	3,782
On disposals	-
At 31 December 2014	122,890
Net book values
At 31 December 2014	37,338
At 31 December 2013	36,120

4Fixed assets Investments
Unlisted Investments £100,000
Listed Investments £130,425

5Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	381,542	282,228