The Leadership Factor Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03145836 (England and Wales)

THE LEADERSHIP FACTOR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S N Hill

Miss J A Nottingham

Mr G J Roche

SECRETARY:

Mr K W Roberts

REGISTERED OFFICE:

Taylor Hill Mill

Huddersfield

HD4 6JA

REGISTERED NUMBER:

03145836 (England and Wales)

ACCOUNTANTS:

DSC

Chartered Accountants

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

FIXED ASSETS

Tangible assets

4

6,858

3,071

CURRENT ASSETS

Stocks

5

17,855

10,286

Debtors

6

600,642

661,457

Cash at bank

4,622,892

3,652,959

5,241,389

4,324,702

CREDITORS

Amounts falling due within one year

7

745,498

623,811

NET CURRENT ASSETS

4,495,891

3,700,891

TOTAL ASSETS LESS CURRENT LIABILITIES

4,502,749

3,703,962

CAPITAL AND RESERVES

Called up share capital

1,612

1,612

Capital redemption reserve

875

875

Retained earnings

4,500,262

3,701,475

4,502,749

3,703,962

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 21 February 2023 and were signed on its behalf by:

Mr S N Hill - Director

1.	STATUTORY INFORMATION

The Leadership Factor 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed assets

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

Long leasehold land and buildings

-

15% on reducing balance

Plant and machinery

-

25% on reducing balance

Furniture, fittings and equipment

-

50% on cost

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress compromises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is regognised immediately in profit or loss.

Financial instruments

Classification:

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a know amount of cash and are subject to and insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 148 (2021 - 146 ) .

4.	TANGIBLE FIXED ASSETS

Long

Furniture,

leasehold

fittings

Land and

land and

Plant and

and

buildings

buildings

machinery

equipment

Totals

£

£

£

£

£

COST

At 1 June 2021

57,277

86,702

129,961

287,613

561,553

Additions

-

-

-

4,487

4,487

Disposals

-

-

(32,490

)

(53,154

)

(85,644

)

At 31 May 2022

57,277

86,702

97,471

238,946

480,396

DEPRECIATION

At 1 June 2021

54,206

86,702

129,961

287,613

558,482

Charge for year

461

-

-

239

700

Eliminated on disposal

-

-

(32,490

)

(53,154

)

(85,644

)

At 31 May 2022

54,667

86,702

97,471

234,698

473,538

NET BOOK VALUE

At 31 May 2022

2,610

-

-

4,248

6,858

At 31 May 2021

3,071

-

-

-

3,071

5.

STOCKS

2022

2021

£

£

Work in progress

17,855

10,286

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

583,237

647,146

Prepayments

17,405

14,311

600,642

661,457

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

19,387

11,043

Tax

136,038

71,463

Social security and other taxes

262,817

233,448

Other creditors

-

1,090

Accruals and deferred income

327,256

306,767

745,498

623,811

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

20,650

20,650

Between one and five years

41,300

61,950

61,950

82,600