Leyden Investments Limited - Accounts to registrar (filleted) - small 22.3
Leyden Investments Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| LEYDEN INVESTMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| BALANCE SHEET |
| 30 JUNE 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| 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. |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| BALANCE SHEET - continued |
| 30 JUNE 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 1. | STATUTORY INFORMATION |
| Leyden Investments Limited is a private company, limited by shares, registered in Scotland. The company's registered office is Caledonia House, Evanton Drive, Thornliebank Industrial Estate, Glasgow, G46 8JT. |
| The presentation currency of the financial statements is Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. |
| Judgements |
| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements. |
| Turnover |
| Turnover consists of rental income and is recognised on a straight line basis over the lease term. Provision is made for any rents due not considered recoverable. |
| 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. |
| Plant and machinery etc - 25% on cost |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Investment property |
| All of the company's properties are held for long term investment. Investment properties are accounted for as follows:- |
| (i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure. |
| (ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably. |
| (iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet. |
| (iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold. |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties. |
| Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. Debt instruments like loans to related parties are measured, initially and subsequently, at the present value of the future payments. |
| Financial liabilities are derecognised when the liability is extinguished, which is when the contractual obligation is charged, cancelled or expires. |
| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. |
| Cash and cash equivalents includes cash in hand and cash held at banks. |
| Taxation |
| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense. |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
| Current asset investments |
| Equity investments are recognised initially at cost which is normally the transaction price and any transaction costs. Subsequently, they are measured at fair value, which is generally the quoted market price, through the profit and loss account. Current asset investments are classified on the basis that they are not currently intended for use on a continuing basis in the entity's activities. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
| Provisions |
| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2021 |
| and 30 June 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| and 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2021 |
| and 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| The company's investment properties are held for use under operating leases. The directors, who are not professionally qualified valuers, arrived at the fair value having considered the market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| 7. | CURRENT ASSET INVESTMENTS |
| 2022 | 2021 |
| £ | £ |
| Listed investments | 543,667 | 419,409 |
| LEYDEN INVESTMENTS LIMITED (REGISTERED NUMBER: SC049347) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2022 and 30 June 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| These balances are unsecured and no repayment terms have been established. |
| 10. | RELATED PARTY DISCLOSURES |
| £120,000 was advanced by the company in January 2021 to a daughter of the directors. Interest of £3,000 (2021: £1,250) was charged at the official rate. The balance due to the company at 30 June 2022 was £124,250 (2021: £121,250). Repayment terms have not been established. |
| £350,000 was advanced by the company in September 2021 to another daughter of the directors. Interest of £6,563 was charged at the official rate. The balance due to the company at 30 June 2022 was £356,563. Repayment terms have not been established. |
| Additional related party information is provided in Note 9. |