Leland Originals Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 10215807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 6 JUNE 2016 TO 31 DECEMBER 2016

FOR

LELAND ORIGINALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms E H Devine

Mr E G Bailie

Ms A R Leland

Mr G Downing

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

10215807 (England and Wales)

ACCOUNTANTS:

Raffingers

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

673

CURRENT ASSETS

Debtors

5

8,333

Cash at bank and in hand

40,945

49,278

CREDITORS

Amounts falling due within one year

6

100,501

NET CURRENT LIABILITIES

(51,223

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,550

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(50,650

)

SHAREHOLDERS' FUNDS

(50,550

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 2 March 2017 and were signed on its behalf by:

Ms A R Leland - Director

1.	STATUTORY INFORMATION

Leland Originals 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 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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company

will meet its liabilities as and when due.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the period 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 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

833

At 31 December 2016

833

DEPRECIATION

Charge for period

160

At 31 December 2016

160

NET BOOK VALUE

At 31 December 2016

673

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

4,500

Amounts owed by group undertakings

1,100

Other debtors

2,733

8,333

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

501

Amounts owed to group undertakings

100,000

100,501

7.	RELATED PARTY DISCLOSURES

During the period, services for the value of £500 was received from Leland Music Limited, a company in which

Ms A R Leland is also a director. At the end of the period the balance of £500 is outstanding.

During the period, a loan of £100,000 was received from Leland Music Ltd, a company in which Ms A R Leland

is also a director. The loan remains outstanding at the balance sheet date.

At the balance sheet date, the company was owed £1,100 by Leland Originals Publishing Ltd, a company in

which Ms A R Leland is also director.

8.	ULTIMATE CONTROLLING PARTY

During the period, Ms A R Leland, a director, controlled the company by virtue of holding 55% of the issued

share capital.