Registration number:
Leodis Care Limited
for the Year Ended 31 March 2020
Leodis Care Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Leodis Care Limited
Company Information
Director |
Dr S M Feldman |
Registered office |
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Leodis Care Limited
(Registration number: 06442564)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Stocks |
- |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
- |
( |
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Net liabilities |
- |
( |
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Capital and reserves |
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Called up and fully paid share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
- |
( |
For the financial year ending 31 March 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss account has been taken.
Approved and authorised by the
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Leodis Care Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
General information |
The Company is a private company limited by share capital incorporated in England and Wales. Details of the registered office are shown on page 1.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
These financial statements have been prepared on a going concern basis, using the historical cost convention and in accordance with FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Going concern
The company ceased to trade on 30 September 2019 as a result these accounts are not prepared on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and is recognised when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
Tax
Current income tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on timing differences between taxable profits and profits reported in the financial statements. Deferred tax is recognised on all timing differences at the reporting date and is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Fixtures, fittings and equipment |
25% reducing balance |
Leodis Care Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to profit or loss over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the Company’s shareholders is recognised in the financial statements in the reporting period in which the dividends are paid.
Leodis Care Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary and preference shares, which are measured at fair value provided that this can be measured reliably. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Staff numbers |
The average number of persons employed by the company (including the director) in the year, was
Tangible assets |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost |
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At 1 April 2019 |
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Disposals |
( |
( |
( |
At 31 March 2020 |
- |
- |
- |
Depreciation |
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At 1 April 2019 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
( |
At 31 March 2020 |
- |
- |
- |
Carrying amount |
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At 31 March 2020 |
- |
- |
- |
At 31 March 2019 |
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Leodis Care Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Stocks |
2020 |
2019 |
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Other inventories |
- |
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Debtors |
2020 |
2019 |
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Trade debtors |
- |
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Amounts owed by group undertakings |
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- |
Other debtors |
- |
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Prepayments |
- |
84,752 |
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Creditors |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
- |
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Amounts owed to group undertakings |
- |
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Taxation and social security |
- |
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Other creditors |
- |
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Accrued expenses |
- |
65,533 |
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Loans and borrowings |
2020 |
2019 |
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Current loans and borrowings |
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Bank overdrafts |
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Creditors include bank loans and overdrafts which are secured of £46,575 (2019 - £33,106). These are secured against the assets of the company.
Leodis Care Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Related party transactions |
Summary of transactions with parent
(Immediate parent)
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is