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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2015 |
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LEVERAGE UK LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2015 |
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FOR |
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LEVERAGE UK LIMITED |
LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31st March 2015 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Profit and Loss Account | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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LEVERAGE UK LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31st March 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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REPORT OF THE DIRECTORS |
For The Year Ended 31st March 2015 |
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The directors present their report with the financial statements of the company for the year ended 31st March 2015. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of investment property and letting. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st April 2014 to the date of this report. |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
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ON BEHALF OF THE BOARD: |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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PROFIT AND LOSS ACCOUNT |
For The Year Ended 31st March 2015 |
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2015 | 2014 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING PROFIT | 2 |
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Interest payable and similar charges |
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PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
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Tax on profit on ordinary activities | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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BALANCE SHEET |
31st March 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Profit and loss account | 9 |
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SHAREHOLDERS' FUNDS |
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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. |
LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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BALANCE SHEET - continued |
31st March 2015 |
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The financial statements were approved by the Board of Directors on
by: |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31st March 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents rents receivable on properties within the UK. Rents are receivable on a weekly and monthly |
basis and where payments are receivable from tenants for periods ending after the balance sheet date, the |
relevant proportion of rent receivable is recorded as deferred income and included as part of creditors due within |
one year.. |
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Investment property |
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation |
is provided in respect of freehold properties held as investments. This is a departure from the requirements of the |
Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and |
not for consumption and the directors consider that to depreciate them would not give a true and fair view. |
Depreciation is only one of the many elements reflected in in the annual valuation of properties and accordingly |
the amount of depreciation which might otherwise have been charged cannot be separately identified or |
quantified. The directors consider that this policy results in the accounts giving a true and fair view. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2015 | 2014 |
£ | £ |
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Directors' remuneration and other benefits etc |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
2015 | 2014 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit on ordinary activities |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st March 2015 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
COST |
Additions |
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At 31st March 2015 |
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NET BOOK VALUE |
At 31st March 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Other debtors | - | 100 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2015 | 2014 |
£ | £ |
Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | 1 |
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9. | RESERVES |
Profit |
and loss |
account |
£ |
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Profit for the year |
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At 31st March 2015 |
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LEVERAGE UK LIMITED (REGISTERED NUMBER: 07979641) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st March 2015 |
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10. | RELATED PARTY DISCLOSURES |
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The company is controlled by its directors. |
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At the balance sheet date the company owed the director, Mr M Simon £60,570. This loan is unsecured, interest |
free and no fixed term for payment have been agreed. |