Leeds Business Centres Limited 31/05/2021 iXBRL
Leeds Business Centres Limited 31/05/2021 iXBRL
Company registration number:
07648820
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31 May 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
(
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
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(
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Provisions for liabilities |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
(
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(
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
17 February 2022
, and are signed on behalf of the board by:
Director
Company registration number:
07648820
Notes to the financial statements
Year ended 31 May 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1A Wilton Street, Chadderton, Oldham, United Kingdom, OL9 7NZ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property | - | Nil | ||
Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2020:
2
).
5.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 June 2020 and 31 May 2021 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 June 2020 | - |
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Charge for the year | - |
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_______ | _______ | _______ | ||
At 31 May 2021 | - |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 May 2021 |
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_______ | _______ | _______ | ||
At 31 May 2020 |
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_______ | _______ | _______ | ||
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property | Total | ||
£ | £ | ||
At 31 May 2021 | |||
Aggregate cost | 566,566 | 566,566 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
566,566 | |
_______ | _______ | ||
At 31 May 2020 | |||
Aggregate cost | 566,566 | 566,566 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
566,566 | |
_______ | _______ | ||
6.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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- | ||
Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
9.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | ||||||
2021 | ||||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Amounts written off | Balance o/standing | ||
£ | £ | £ | £ | £ | ||
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(
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(19,185) |
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_______ | _______ | _______ | _______ | _______ | ||
2020 | ||||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Amounts written off | Balance o/standing | ||
£ | £ | £ | £ | £ | ||
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(
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(
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(60,000) |
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_______ | _______ | _______ | _______ | _______ | ||
10.
Controlling party
The ultimate controlling party is Mr
G Costello
by virtue of his controlling interest in the company.