Leaker Direct (Properties) Ltd,Ltd - AccountsLtd - Accounts

LEAKER DIRECT (PROPERTIES) LTD. - Company Information

Print Friendly Version

Leaker Direct (Properties) Ltd

Registered Number:SC238049

For the year ended 31 March 2018

Scotland

Unaudited Financial Statements

For the year ended 31 March 2018

Leaker Direct (Properties) Ltd

Contents Page

Statement of Financial Position

2 to 4

Notes to the Financial Statements

As at 31 March 2018

Leaker Direct (Properties) Ltd

Statement of Financial Position

Registered Number :

SC238049

2017

2018

Notes

Fixed assets

Property, plant and equipment

971,670

Current assets

Trade and other receivables

14,803

2,326

Cash and cash equivalents

474

15,277

2,326

Trade and other payables: amounts falling due within one

year

(695,615)

(659,617)

(693,289)

(644,340)

Net current liabilities

Total assets less current liabilities

327,330

278,381

Trade and other payables: amounts falling due after more

than one year

(17,310)

327,330

Net assets

261,071

Capital and reserves

Called up share capital

100

Revaluation reserve

90,072

Retained earnings

237,158

170,899

327,330

261,071

Shareholders' funds

For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Arthur Leaker Director

These financial statements were approved and authorised for issue by the Board on 18 September 2018 and were signed by:

The notes form part of these financial statements

1 of 4

For the year ended 31 March 2018

Leaker Direct (Properties) Ltd

Notes to the Financial Statements

Statutory Information

Leaker Direct (Properties) Ltd is a private limited company, limited by shares, domiciled in Scotland, registration

number SC238049.

Registered address:

Units 109/110

Block 11

Howden Avenue

Newhouse

ML1 5RX

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

The company''s freehold properties were professionally valued in 0. This valuation has been reduced by subsequent

depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective

January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that

valuation has not been updated.

The company''s freehold properties are revalued in full every five years. Interim valuations are carried out when it is

likely that there has been a material change in value.

No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected

useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation

would be immaterial. The directors undertake an annual impairment review of these properties.

2 of 4

For the year ended 31 March 2018

Leaker Direct (Properties) Ltd

Notes to the Financial Statements Continued

2. Property, plant and equipment

Land and

buildings

Cost or

valuation

At 01 April 2017

971,670

At 31 March 2018

971,670

At 31 March 2018

Net book value

971,670

At 31 March 2017

971,670

In respect of certain fixed assets stated at valuations, the comparable historical cost and depreciation values are as

follows:

Historical cost

881,597

At 01 April 2017

Net historical cost value:

At 31 March 2017

At 31 March 2018

881,597

3. Trade and other receivables

2017

2018

Trade debtors

10,397

Other debtors

4,406

14,803

4. Trade and other payables: amounts falling due within one year

2017

2018

Bank loans and overdraft (secured)

18,095

39,018

Trade creditors

97,587

119,452

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

520,367

490,367

Taxation and social security

21,253

21,210

Other creditors

2,315

25,568

659,617

695,615

3 of 4

For the year ended 31 March 2018

Leaker Direct (Properties) Ltd

Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due after more than one year

2017

2018

Bank loans and overdraft (secured)

17,310

6. Reserves

Total

Revaluation reserve at 01 April 2017

90,072

Revaluation reserve at 31 March 2018

4 of 4