Leading Leaders Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06042506 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

Leading Leaders Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

672

571

672

571

CURRENT ASSETS

Stocks

5,890

-

Debtors

7

14,086

11,225

Cash at bank

12,111

5,506

32,087

16,731

CREDITORS

Amounts falling due within one year

8

(17,432

)

(9,186

)

NET CURRENT ASSETS

14,655

7,545

TOTAL ASSETS LESS CURRENT LIABILITIES

15,327

8,116

PROVISIONS FOR LIABILITIES

(128

)

(114

)

NET ASSETS

15,199

8,002

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,099

7,902

SHAREHOLDERS' FUNDS

15,199

8,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 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 director on 6 July 2018 and were signed by:

Ms K Kircher - Director

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 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.

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.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond

normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is

measured at the present value of the future payments discounted at a market rate of interest for a similar debt

instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is

recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the

impairment not previously been recognised.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

and 31 January 2018

10,000

AMORTISATION

At 1 February 2017

and 31 January 2018

10,000

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

2,368

Additions

525

Disposals

(1,204

)

At 31 January 2018

1,689

DEPRECIATION

At 1 February 2017

1,797

Charge for year

225

Eliminated on disposal

(1,005

)

At 31 January 2018

1,017

NET BOOK VALUE

At 31 January 2018

672

At 31 January 2017

571

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

13,863

10,313

Other debtors

223

912

14,086

11,225

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

14,374

8,534

Other creditors

3,058

652

17,432

9,186