Leading Leaders Limited - Accounts to registrar (filleted) - small 23.1.2

Leading Leaders Limited - Accounts to registrar (filleted) - small 23.1.2

LEADING LEADERS LIMITED - Company Information

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REGISTERED NUMBER: 06042506 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Leading Leaders Limited
Leading Leaders Limited (Registered number: 06042506)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leading Leaders Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Ms K Kircher





SECRETARY: Ms J E Fox





REGISTERED OFFICE: Little Dormers
3 Wicken Road
Newport
Essex
CB11 3QD





REGISTERED NUMBER: 06042506 (England and Wales)
Page 1
Leading Leaders Limited (Registered number: 06042506)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 588 530
588 530

CURRENT ASSETS
Stocks 1,774 2,220
Debtors 7 401 5,544
Cash at bank 17,212 12,610
19,387 20,374
CREDITORS
Amounts falling due within one year 8 19,331 20,621
NET CURRENT ASSETS/(LIABILITIES) 56 (247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
644
283

PROVISIONS FOR LIABILITIES 112 101
NET ASSETS 532 182

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 432 82
SHAREHOLDERS' FUNDS 532 182

The notes form part of these financial statements

Page 2 continued...
Leading Leaders Limited (Registered number: 06042506)

Balance Sheet - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 24 July 2023 and were signed by:





Ms K Kircher - Director


The notes form part of these financial statements

Page 3
Leading Leaders Limited (Registered number: 06042506)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Leading Leaders 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 (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


Page 4 continued...
Leading Leaders Limited (Registered number: 06042506)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


3. ACCOUNTING POLICIES - continued
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.

Going concern
The Directors have assessed the current and future effects of COVID-19 on the Company. The Company has been able to continue to trade during the pandemic, on this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 10,000
AMORTISATION
At 1 February 2022
and 31 January 2023 10,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

Page 5 continued...
Leading Leaders Limited (Registered number: 06042506)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 1,351
Additions 708
Disposals (1,109 )
At 31 January 2023 950
DEPRECIATION
At 1 February 2022 821
Charge for year 196
Eliminated on disposal (655 )
At 31 January 2023 362
NET BOOK VALUE
At 31 January 2023 588
At 31 January 2022 530

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 5,027
Other debtors 401 517
401 5,544

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 308
Taxation and social security 8,924 7,816
Other creditors 10,406 12,497
19,331 20,621

Included within other creditors disclosed above is a balance of £565 (2022 - £565) in relation to accrued expenses and a balance of £9,841 (2022 - £11,932) in relation to the Director's Loan Account.

Page 6