IRIS Accounts Production v22.2.0.402 08560634 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure085606342020-12-31085606342021-12-31085606342021-01-012021-12-31085606342019-12-31085606342020-01-012020-12-31085606342020-12-3108560634ns16:EnglandWales2021-01-012021-12-3108560634ns15:PoundSterling2021-01-012021-12-3108560634ns11:Director12021-01-012021-12-3108560634ns11:Director22021-01-012021-12-3108560634ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3108560634ns11:SmallEntities2021-01-012021-12-3108560634ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3108560634ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3108560634ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3108560634ns11:FullAccounts2021-01-012021-12-3108560634ns11:RegisteredOffice2021-01-012021-12-3108560634ns6:CurrentFinancialInstruments2021-12-3108560634ns6:CurrentFinancialInstruments2020-12-3108560634ns6:Non-currentFinancialInstruments2021-12-3108560634ns6:Non-currentFinancialInstruments2020-12-3108560634ns6:ShareCapital2021-12-3108560634ns6:ShareCapital2020-12-3108560634ns6:RetainedEarningsAccumulatedLosses2021-12-3108560634ns6:RetainedEarningsAccumulatedLosses2020-12-3108560634ns6:LandBuildings2021-01-012021-12-3108560634ns6:PlantMachinery2021-01-012021-12-3108560634ns6:LandBuildings2020-12-3108560634ns6:PlantMachinery2020-12-3108560634ns6:LandBuildings2021-12-3108560634ns6:PlantMachinery2021-12-3108560634ns6:LandBuildings2020-12-3108560634ns6:PlantMachinery2020-12-3108560634ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3108560634ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3108560634ns6:Secured12021-12-3108560634ns6:Secured12020-12-31
REGISTERED NUMBER: 08560634 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Hang Loose (Beverley) Ltd

Hang Loose (Beverley) Ltd (Registered number: 08560634)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hang Loose (Beverley) Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs B Los
C J Los





REGISTERED OFFICE: Let Loose! Adventure Park
Hull Road
Woodmansey
Beverley
East Yorkshire
HU17 0RS





REGISTERED NUMBER: 08560634 (England and Wales)





ACCOUNTANTS: WOODGATES
Chartered Accountants
25 Woodgates Lane
North Ferriby
East Yorkshire
HU14 3JR

Hang Loose (Beverley) Ltd (Registered number: 08560634)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 537,839 584,050

CURRENT ASSETS
Stocks 6,709 600
Debtors 5 6,899 15,989
Cash at bank and in hand 161,478 36,013
175,086 52,602
CREDITORS
Amounts falling due within one year 6 722,458 718,355
NET CURRENT LIABILITIES (547,372 ) (665,753 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,533

)

(81,703

)

CREDITORS
Amounts falling due after more than one
year

7

34,167

44,167
NET LIABILITIES (43,700 ) (125,870 )

CAPITAL AND RESERVES
Called up share capital 169,333 169,333
Retained earnings (213,033 ) (295,203 )
(43,700 ) (125,870 )

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 directors acknowledge their 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.

Hang Loose (Beverley) Ltd (Registered number: 08560634)

Balance Sheet - 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 Board of Directors and authorised for issue on 21 June 2022 and were signed on its behalf by:




Mrs B Los - Director



C J Los - Director


Hang Loose (Beverley) Ltd (Registered number: 08560634)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Hang Loose (Beverley) Ltd 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.

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.

The company meets its day to day working capital requirements via funding and a loan facility provided by a company under the control of one of the directors and a shareholder of the ultimate parent company which is interest free and repayable on demand.

Without the above mentioned support it is likely the Company would not be able to continue as a going concern therefore certain assets in the Company's balance sheet which are shown at their in use value may need to be valued on a different basis which is likely to result in a considerable mark down in their value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax for the sale of goods and the provision of services in the ordinary course of the company's activities. The company's turnover is recognised when the amount can be reliably measured and when the provision of services is provided or goods are sold.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 15 years
Plant and machinery etc - 33% on reducing balance, 15% on reducing balance and 12.5% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and bank balances
Cash and bank balances are recognised at transaction price.

Hang Loose (Beverley) Ltd (Registered number: 08560634)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2020 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 718,839 85,231 804,070
Additions 6,062 5,280 11,342
At 31 December 2021 724,901 90,511 815,412
DEPRECIATION
At 1 January 2021 184,341 35,679 220,020
Charge for year 48,326 9,227 57,553
At 31 December 2021 232,667 44,906 277,573
NET BOOK VALUE
At 31 December 2021 492,234 45,605 537,839
At 31 December 2020 534,498 49,552 584,050

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 6,899 15,989

Hang Loose (Beverley) Ltd (Registered number: 08560634)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 10,000 5,833
Trade creditors 45,628 22,409
Taxation and social security 5,220 482
Other creditors 661,610 689,631
722,458 718,355

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans 34,167 44,167

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 4,167

8. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21
£
Within one year 20,000
Between one and five years 80,000
In more than five years 220,000
320,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Other loans 420,000 420,000

Hang Loose (Beverley) Ltd (Registered number: 08560634)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. RELATED PARTY DISCLOSURES

At the year end the company owed a company under the control of one of the directors and a shareholder of the ultimate parent company £554,853 (2020 £587,515) which is interest free and repayable on demand.

This company has a debenture over the assets of the company amounting to £420,000 to cover the majority of the amount outstanding.

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Augusta Services (Yorkshire) Limited (Company Number 11559058) registered in England & Wales. Augusta Services (Yorkshire) Limited registered address and principal place of business is Kingfisher Court, Plaxton Bridge Road, Woodmansey, Beverley, East Yorkshire HU17 0RT.