Leopard Marine Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 09495287 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

LEOPARD MARINE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Diffin

H Diffin

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

09495287 (England and Wales)

ACCOUNTANTS:

Riley & Co Limited

Chartered Accountants

52 St Johns Lane

Halifax

West Yorkshire

HX1 2BW

FIXED ASSETS

Intangible assets

4

15,000

20,000

Tangible assets

5

22,103

259

37,103

20,259

CURRENT ASSETS

Debtors

6

1,281

146

Cash at bank

6,864

4,786

8,145

4,932

CREDITORS

Amounts falling due within one year

7

43,425

37,709

NET CURRENT LIABILITIES

(35,280

)

(32,777

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,823

(12,518

)

CREDITORS

Amounts falling due after more than one year

8

(17,527

)

-

PROVISIONS FOR LIABILITIES

-

(52

)

NET LIABILITIES

(15,704

)

(12,570

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(15,706

)

(12,572

)

SHAREHOLDERS' FUNDS

(15,704

)

(12,570

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 12 May 2017 and were signed on its behalf by:

P Diffin - Director

1.	STATUTORY INFORMATION

Leopard Marine Ltd 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.

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 2015, is being 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 each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and Straight line over 3 years

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

25,000

AMORTISATION

At 1 April 2016

5,000

Charge for year

5,000

At 31 March 2017

10,000

NET BOOK VALUE

At 31 March 2017

15,000

At 31 March 2016

20,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

396

Additions

29,301

At 31 March 2017

29,697

DEPRECIATION

At 1 April 2016

137

Charge for year

7,457

At 31 March 2017

7,594

NET BOOK VALUE

At 31 March 2017

22,103

At 31 March 2016

259

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

1,281

146

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

3,743

-

Trade creditors

61

-

Taxation and social security

-

(152

)

Other creditors

39,621

37,861

43,425

37,709

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

17,527

-

9.	FIRST YEAR ADOPTION OF FRS 102

The first year adoption of FRS 102 has not resulted in any material transitional adjustments and accordingly no

reconciliation of equity or profit is required in these financial statements.