Company No:
Contents
DIRECTOR | Mr M Rollins |
REGISTERED OFFICE | Ground Floor |
6 Queen Street | |
Leeds | |
West Yorkshire | |
LS1 2TW | |
United Kingdom |
COMPANY NUMBER | 07882046 (England and Wales) |
CHARTERED ACCOUNTANTS | Murray Harcourt Partners LLP |
6 Queen Street | |
Leeds | |
LS1 2TW |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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607 | 744 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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117,513 | 26,923 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current (liabilities)/assets | (6,420) | 5,146 | ||
Total assets less current liabilities | (5,813) | 5,890 | ||
Provisions for liabilities | (
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's (deficit)/funds | (
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Director's responsibilities:
The financial statements of Leda Research and Development Limited (registered number:
Mr M Rollins
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Leda Research and Development Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 6 Queen Street,, Leeds, West Yorkshire, LS1 2TW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Fixtures and fittings |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 December 2020 |
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At 30 November 2021 |
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Accumulated depreciation | |||
At 01 December 2020 |
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Charge for the financial year |
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At 30 November 2021 |
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Net book value | |||
At 30 November 2021 |
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At 30 November 2020 |
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2021 | 2020 | ||
£ | £ | ||
Corporation tax |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Other creditors |
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Transactions with the entity's director
2021 | 2020 | ||
£ | £ | ||
Mr M Rollins | 122,508 | 20,202 |
The loan is interest free and repayable on demand.
Other related party transactions
2021 | 2020 | ||
£ | £ | ||
Festival House Developments Limited | 20,448 | 21,099 |
The loan is interest free and repayable on demand.