IRIS Accounts Production
v18.3.0.592
02948564
Board of Directors
Board of Directors
1.10.17
30.9.18
30.9.18
6.11.18
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Auditors Opinion
Ordinary Shares
1.00000
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02948564
2017-09-30
02948564
2018-09-30
02948564
2017-10-01
2018-09-30
02948564
2016-09-30
02948564
2016-10-01
2017-09-30
02948564
2017-09-30
02948564
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2017-10-01
2018-09-30
02948564
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2017-10-01
2018-09-30
02948564
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2017-10-01
2018-09-30
02948564
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2018-09-30
02948564
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2018-09-30
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02948564
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02948564
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2017-09-30
REGISTERED NUMBER:
02948564
(England and Wales)
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for the Year Ended 30 September 2018
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Notes to the Financial Statements
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3
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REGISTERED OFFICE:
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Holder Blackthorn LLP
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REGISTERED NUMBER:
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02948564 (England and Wales)
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AUDITORS:
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Locke Williams Associates LLP
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Cash at bank
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30,328
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58,718
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CAPITAL, RESERVES AND LIABILITIES
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Called up share capital
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4
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1,120,002
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1,120,002
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Retained earnings
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(1,698,901
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) |
(1,674,579
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) |
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SHAREHOLDERS' FUNDS
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(578,899
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) |
(554,577
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) |
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CREDITORS
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5
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610,407
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618,303
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The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on
6 November 2018 and were signed on
its behalf by:
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Leipold (UK) Limited is a
private company, limited by shares , registered in England and Wales. The
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company's registered number and registered office address can be found on the Company Information
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Basis of preparing the financial statements
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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 under the historical cost convention. |
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Turnover comprises revenue recognised by the Company in respect of goods and services supplied,
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exclusive of Value Added Tax and trade discounts.
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
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except to the extent that it relates to items recognised in other comprehensive income or directly in
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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
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enacted or substantively enacted by the balance sheet date.
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods
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different from those in which they are recognised in financial statements. Deferred tax is measured
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using tax rates and laws that have been enacted or substantively enacted by the year end and that are
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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
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that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
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the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
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exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
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Hire purchase and leasing commitments
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
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Following the significant reduction in sales, with the loss of existing customers within the electronics
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industry in the proceeding years, the company has no sales in the year.
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The company has the intention to, but has not yet established a UK sales force with a view to
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concentrating the business on supplying its products to manufacturers and end users within the
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The lack of sales has significantly affected the operating cash flow of the company. The largest
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supplier to the company is from its fellow group companies and as a result the company has not been
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able to settle their credit in the normal terms.
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As a result of this ongoing situation, the company is increasingly reliant on the support of its parent and
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fellow group companies. This support is required in the form of the continuation of supply of goods and
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the extension of favourable credit terms for their supply.
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The company made a loss in the year of £24,322. Of the company's liabilities as at 30 September
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2018, £592,976 are due to group companies.
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The directors have obtained letters from the parent company and its fellow group companies, pledging
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to provide sufficient trading terms to the company, in order that it can meet its day to day working
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capital requirements for a period of at least twelve months from the date of these financial statements.
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The directors have concluded that material uncertainties exist, that cast significant doubt upon the
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company's ability to continue as a going concern and therefore the company may be unable to realise
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its assets and discharge its liabilities in the normal course of business. However, given the continuing
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efforts to secure future sales and with the support of its parent and fellow group companies, the
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directors continue to adopt the going concern basis of accounting.
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Had the accounts not been prepared on a going concern basis, there would have been no restatement
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of the result for the year or the balance sheet as at 30 September 2018 required.
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3.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Other debtors
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1,180
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1,286
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4.
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CALLED UP SHARE CAPITAL
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Allotted, issued and fully paid:
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Number:
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Class:
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Nominal
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30.9.18
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30.9.17
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1,120,002
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Ordinary Shares
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1
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1,120,002 |
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1,120,002 |
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5.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade creditors
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3,362
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6,676
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Amounts owed to group undertakings
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592,976
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592,976
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Other creditors
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14,069
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18,651
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6.
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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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David Williams (Senior Statutory Auditor)
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for and on behalf of
Locke Williams Associates LLP |
7.
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RELATED PARTY DISCLOSURES
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
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'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
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party transactions with wholly owned subsidiaries within the group.
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8.
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PARENT/SUBSIDIARY RELATIONSHIP
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The company is included in the group financial statements of Carl Leipold GmbH, a company
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registered in Wolfach, Germany.
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