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REGISTERED NUMBER:
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LESLIE WISE LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2018 |
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REGISTERED NUMBER:
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LESLIE WISE LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2018 |
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LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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LESLIE WISE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
39A Welbeck Street |
London |
W1G 8DH |
LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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BALANCE SHEET |
30TH APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
were signed on its behalf by: |
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LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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1. | STATUTORY INFORMATION |
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Leslie Wise 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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The financial statements are presented in sterling which is the functional currency of the company and rounded |
to the nearest pound. |
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The company's business address is 9 Cavendish Place, London, W1G 0NQ. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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. The financial statements have been prepared on a going concern basis |
under the historical cost convention. |
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The significant accounting policies applied in the preparation of the financial statements are set out below and |
have been consistently applied to all years presented unless otherwise stated. |
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Preparation of consolidated financial statements |
The financial statements contain information about Leslie Wise Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section |
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Revenue is recognised when goods are despatched to the customers. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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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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. |
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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from |
those of the company in an independently administered fund. Contributions payable for the year are charged in |
the profit and loss account. |
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Basic financial instruments |
Trade and other debtors / creditors |
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. |
Subsequent to initial recognition, they are measured at transaction price less any impairment losses. Trade and |
other creditors are recognised initially at transaction price plus attributable transaction costs. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash balances and deposits. |
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Employee benefits |
Holiday pay is recognised as an expense in the period in which the service from the employee is received. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st May 2017 |
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Additions |
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At 30th April 2018 |
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DEPRECIATION |
At 1st May 2017 |
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Charge for year |
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At 30th April 2018 |
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NET BOOK VALUE |
At 30th April 2018 |
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At 30th April 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1st May 2017 |
and 30th April 2018 |
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NET BOOK VALUE |
At 30th April 2018 |
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At 30th April 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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LESLIE WISE LIMITED (REGISTERED NUMBER: 00885078) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 251,256 | 251,256 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | CONTINGENT LIABILITIES |
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There is an unlimited debenture incorporating a fixed and floating charge given to the company's bank. |
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12. | RELATED PARTY DISCLOSURES |
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During the year the company purchased goods of £2,446,765 (2017: £2,936,189) from Savcan Tekstil, a |
company under the common control of the directors Nedim and Nuvit Gundemir. At the Balance Sheet date, an |
amount of £292,419 (2017: £585,517) was owed to Savcan Tekstil. |