IRIS Accounts Production v22.1.4.3 04032295 director 1.1.21 31.12.21 31.12.21 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure040322952020-12-31040322952021-12-31040322952021-01-012021-12-31040322952019-12-31040322952020-01-012020-12-31040322952020-12-3104032295ns16:EnglandWales2021-01-012021-12-3104032295ns15:PoundSterling2021-01-012021-12-3104032295ns11:Director12021-01-012021-12-3104032295ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104032295ns11:SmallEntities2021-01-012021-12-3104032295ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3104032295ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104032295ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104032295ns11:FullAccounts2021-01-012021-12-310403229512021-01-012021-12-3104032295ns11:OrdinaryShareClass12021-01-012021-12-3104032295ns11:CompanySecretary12021-01-012021-12-3104032295ns11:RegisteredOffice2021-01-012021-12-3104032295ns6:CurrentFinancialInstruments2021-12-3104032295ns6:CurrentFinancialInstruments2020-12-3104032295ns6:Non-currentFinancialInstruments2021-12-3104032295ns6:Non-currentFinancialInstruments2020-12-3104032295ns6:ShareCapital2021-12-3104032295ns6:ShareCapital2020-12-3104032295ns6:RevaluationReserve2021-12-3104032295ns6:RevaluationReserve2020-12-3104032295ns6:RetainedEarningsAccumulatedLosses2021-12-3104032295ns6:RetainedEarningsAccumulatedLosses2020-12-3104032295ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-01-012021-12-3104032295ns6:PlantMachinery2021-01-012021-12-3104032295ns6:IntangibleAssetsOtherThanGoodwill2020-12-3104032295ns6:IntangibleAssetsOtherThanGoodwill2021-12-3104032295ns6:IntangibleAssetsOtherThanGoodwill2020-12-3104032295ns6:LandBuildings2020-12-3104032295ns6:PlantMachinery2020-12-3104032295ns6:LandBuildings2021-01-012021-12-3104032295ns6:LandBuildings2021-12-3104032295ns6:PlantMachinery2021-12-3104032295ns6:LandBuildings2020-12-3104032295ns6:PlantMachinery2020-12-3104032295ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104032295ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104032295ns6:Secured2021-12-3104032295ns6:Secured2020-12-3104032295ns11:OrdinaryShareClass12021-12-31
REGISTERED NUMBER: 04032295 (England and Wales)















SLEAFORD LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


SLEAFORD LEISURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: Mrs W A Broughton





SECRETARY: Mrs W A Broughton





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Temple House Farm
Temple Bruer
Wellingore
Lincoln
Lincolnshire
LN5 0DG





REGISTERED NUMBER: 04032295 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,590,659 7,608,959
7,590,659 7,608,959

CURRENT ASSETS
Stocks and work in progress 175,182 163,720
Debtors 6 22,258 16,190
Cash at bank and in hand 40,081 34,950
237,521 214,860
CREDITORS
Amounts falling due within one year 7 647,996 617,821
NET CURRENT LIABILITIES (410,475 ) (402,961 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,180,184 7,205,998

CREDITORS
Amounts falling due after more than one year 8 (905,297 ) (963,761 )

PROVISIONS FOR LIABILITIES (1,099,749 ) (1,104,324 )
NET ASSETS 5,175,138 5,137,913

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 4,484,953 4,484,953
Retained earnings 690,085 652,860
SHAREHOLDERS' FUNDS 5,175,138 5,137,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 July 2022 and were signed by:





Mrs W A Broughton - Director


SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Sleaford Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of farm crops, livestock and area aid income, excluding value added tax.

Intangible fixed assets
Intangible fixed assets represents the amount paid for the permanent transfer of entitlements, this is being written off on a straight line basis over five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Valuation
The valuation is prepared by the director in accordance with accounting standards and is valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred to bring the stock to its state at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants are recognised in the income statement when all performance criteria attached to the grant have been fulfilled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2021
and 31 December 2021 49,960
AMORTISATION
At 1 January 2021
and 31 December 2021 49,960
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2021 7,512,900 284,313 7,797,213
Additions - 2,950 2,950
Disposals - (7,157 ) (7,157 )
At 31 December 2021 7,512,900 280,106 7,793,006
DEPRECIATION
At 1 January 2021 - 188,254 188,254
Charge for year - 19,475 19,475
Eliminated on disposal - (5,382 ) (5,382 )
At 31 December 2021 - 202,347 202,347
NET BOOK VALUE
At 31 December 2021 7,512,900 77,759 7,590,659
At 31 December 2020 7,512,900 96,059 7,608,959

Cost or valuation at 31 December 2021 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 5,344,649 - 5,344,649
Cost 2,168,251 280,106 2,448,357
7,512,900 280,106 7,793,006

If land and buildings had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 2,168,251 2,168,251

Value of land in freehold land and buildings 7,512,900 7,512,900

Land and buildings were valued on an open market basis on 31 December 2018 by the Directors .

The net book value of tangible fixed assets includes £ 36,454 (2020 - £ 45,568 ) in respect of assets held under hire purchase contracts or finance leases.

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 20,459 14,538
Other debtors 1,799 1,652
22,258 16,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 466,676 458,155
Trade creditors 7,869 4,594
Taxation and social security 17,753 16,975
Other creditors 155,698 138,097
647,996 617,821

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 905,297 963,761

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 297,500 19,487

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank overdrafts 405,712 403,210
Bank loans 966,261 1,018,706
1,371,973 1,421,916

The bank facilities are secured by a debenture incorporating the assets and undertakings of the company, a first legal charge over 740 acres at Temple Bruer Farm. Mrs W A Broughton has also made personal guarantees, supported by charges over Temple Bruer farmhouse, and property in Ewerby.

Hire purchase liabilities are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

11. RELATED PARTY DISCLOSURES

At the year end date the company owed the director £83,071 (2020: £72,646). This amount is unsecured, interest free and repayable on demand.