REGISTERED NUMBER: |
SLEAFORD LEISURE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks and work in progress |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
and 31 December 2021 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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 |
Bank loans |
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: | £ | £ |
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. |