Leader Companies Holdings Limited Company accounts

Leader Companies Holdings Limited Company accounts

LEADER COMPANIES HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09682081
Leader Companies Holdings Limited
Unaudited Financial Statements
30 June 2017
WHEAWILL & SUDWORTH LIMITED
Chartered Accountants
35 Westgate
Huddersfield
HD1 1PA
Leader Companies Holdings Limited
Financial Statements
Year ended 30 June 2017
Contents
Pages
Directors' report 1
Profit and loss account 2
Balance sheet 3
Notes to the financial statements 4 to 6
The following pages do not form part of the financial statements
Detailed profit and loss account 8
Notes to the detailed profit and loss account 9
Leader Companies Holdings Limited
Directors' Report
Year ended 30 June 2017
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2017 .
Principal activities
The company is a holding company and has not traded in this period.
Directors
The directors who served the company during the year were as follows:
Mr N Smith
Mrs N J Smith
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 August 2017 and signed on behalf of the board by:
Mr N Smith
Director
Leader Companies Holdings Limited
Profit and Loss Account
Year ended 30 June 2017
Period from
Year to
13 Jul 15 to
30 Jun 17
30 Jun 16
Note
£
£
Income from shares in group undertakings
108,000
18,000
Interest payable and similar expenses
5
2,000
–
------------
------------
Profit before taxation
106,000
18,000
Tax on profit
–
–
------------
------------
Profit for the financial year and total comprehensive income
106,000
18,000
------------
------------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Leader Companies Holdings Limited
Balance Sheet
30 June 2017
2017
2016
Note
£
£
Fixed assets
Investments
6
218,941
218,941
Current assets
Cash at bank and in hand
19
19
Creditors: amounts falling due within one year
7
179,840
218,840
------------
------------
Net current liabilities
179,821
218,821
------------
------------
Total assets less current liabilities
39,120
120
------------
------------
Capital and reserves
Called up share capital
8
120
120
Profit and loss account
39,000
–
------------
------------
Members funds
39,120
120
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 August 2017 , and are signed on behalf of the board by:
Mr N Smith
Director
Company registration number: 09682081
Leader Companies Holdings Limited
Notes to the Financial Statements
Year ended 30 June 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 13 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
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.
4. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2016: 2).
5. Interest payable and similar expenses
Period from
Year to
13 Jul 15 to
30 Jun 17
30 Jun 16
£
£
Interest payable
2,000
–
------------
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 Jul 2016 and 30 Jun 2017
218,941
------------
Impairment
At 1 Jul 2016 and 30 Jun 2017
–
------------
Carrying amount
At 30 June 2017
218,941
------------
Subsidiaries, associates and other investments
Registered office
Class of share
Percentage of shares held
Subsidiary undertakings
Leader Distribution Limited
35 Westgate
Ordinary
100
Huddersfield
HD1 1PA
The results and capital and reserves for the year are as follows:
Capital and reserves
Profit/(loss) for the year
2017
2016
2017
2016
£
£
£
£
Subsidiary undertakings
Leader Distribution Limited
301,079
275,076
167,671
171,197
------------
------------
------------
------------
7. Creditors: amounts falling due within one year
2017
2016
£
£
Amounts owed to group undertakings
67,960
132,960
Directors' loan account (Note 8)
111,880
85,880
------------
------------
179,840
218,840
------------
------------
8. Called up share capital
Issued, called up and fully paid
2017
2016
No.
£
No.
£
Ordinary shares of £ 1 each
120
120
120
120
------------
------------
------------
------------
9. Related party transactions
The directors' loan accounts at note 6 above are unsecured, repayable on demand and bear interest at a commercial rate . Transactions with the subsidiary company Within creditors is an amount of £67,960 (2016: £132,960) owed to the subsidiary at 30 June 2017. The amount is unsecured, repayable on demand and currently interest free. Control of company There is no one controlling party of the company.
10. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 13 July 2015.
No transitional adjustments were required in equity or profit or loss for the period.
Leader Companies Holdings Limited
Management Information
Year ended 30 June 2017
The following pages do not form part of the financial statements.
Leader Companies Holdings Limited
Detailed Profit and Loss Account
Year ended 30 June 2017
Period from
Year to
13 Jul 15 to
30 Jun 17
30 Jun 16
£
£
Income from shares in group undertakings
108,000
18,000
Interest payable and similar expenses
2,000
–
------------
------------
Profit before taxation
106,000
18,000
------------
------------
Leader Companies Holdings Limited
Notes to the Detailed Profit and Loss Account
Year ended 30 June 2017
Period from
Year to
13 Jul 15 to
30 Jun 17
30 Jun 16
£
£
Income from shares in group undertakings
Income from group undertakings
108,000
18,000
------------
------------
Interest payable and similar expenses
Interest payable
2,000
–
------------
------------