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REGISTERED NUMBER:
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LEAKEY'S BOOKSHOP LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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DRAFT |
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REGISTERED NUMBER:
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LEAKEY'S BOOKSHOP LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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DRAFT |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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LEAKEY'S BOOKSHOP LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2017 |
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DRAFT |
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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Chartered Accountants |
Redwood |
19 Culduthel Road |
Inverness |
IV2 4AA |
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BANKERS: |
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Inverness Chief Office |
29 Harbour Road |
Inverness |
IV1 1NU |
LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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BALANCE SHEET |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
DRAFT |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Allotted, called up and fully paid share
capital |
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Retained earnings |
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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. |
LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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BALANCE SHEET - continued |
31 March 2017 |
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DRAFT |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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DRAFT |
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1. | STATUTORY INFORMATION |
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Leakey's Bookshop Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents sales from running a second hand bookshop, net of vat. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business on 1 April 2005, was |
amortised evenly over its estimated useful life of 10 years and became fully amortised in the year ended 31 |
March 2015. |
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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. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life: |
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Fixtures and fittings | - 10% reducing balance |
Computer equipment | - 331/3% straight line |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the |
tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as |
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in |
periods different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by |
the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on |
revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and |
allowances that apply to the sale of the asset. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of |
the lease. |
LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
DRAFT |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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Disposals |
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( |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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LEAKEY'S BOOKSHOP LIMITED (REGISTERED NUMBER: SC264441) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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DRAFT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | FIRST YEAR ADOPTION |
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Leakey's Bookshop Limited has prepared its accounts under FRS102 Section 1A for the first time this year. |
There were no transitional adjustments required. |
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