REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 February 2021 to 31 December 2021 |
for |
Liberty Leisure Group Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 February 2021 to 31 December 2021 |
for |
Liberty Leisure Group Ltd |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Contents of the Financial Statements |
for the Period 1 February 2021 to 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 5 |
Liberty Leisure Group Ltd |
Company Information |
for the Period 1 February 2021 to 31 December 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Mount Parade |
Harrogate |
Yorkshire |
HG1 1BX |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Balance Sheet |
31 December 2021 |
31.12.21 | 31.1.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors: amounts falling due within one year |
5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Balance Sheet - continued |
31 December 2021 |
31.12.21 | 31.1.21 |
Notes | £ | £ | £ | £ |
CREDITORS |
Amounts falling due after more than one year |
7 |
PROVISIONS FOR LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
11 |
1,200,918 | 971,450 |
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. |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Balance Sheet - continued |
31 December 2021 |
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 and authorised for issue on |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Notes to the Financial Statements |
for the Period 1 February 2021 to 31 December 2021 |
1. | STATUTORY INFORMATION |
Liberty Leisure Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Notes to the Financial Statements - continued |
for the Period 1 February 2021 to 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Notes to the Financial Statements - continued |
for the Period 1 February 2021 to 31 December 2021 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 February 2021 |
Charge for period |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 January 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.1.21 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.1.21 |
£ | £ |
Bank loans and overdrafts |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
Liberty Leisure Group Ltd (Registered number: 11168373) |
Notes to the Financial Statements - continued |
for the Period 1 February 2021 to 31 December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.1.21 |
£ | £ |
Bank loans |
8. | OTHER FINANCIAL COMMITMENTS |
The Company entered into a lease on 1 February 2018 for a period of 6 years for a rent of £14,400 per annum , this has increases to £15,500 er annum as from 1 February 2021. |
The company also has a lease monthly commitment that requires a 6 month notice period at a £1,000 per month. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Mr A Whiteley was overdrawn at the year end by £190 , this was repaid in full on 27th October 2021 |
10. | RELATED PARTY DISCLOSURES |
During the period the company paid consultants fees of £55,000 (31/01/21 £60,00) to Impact Sales Training Limited, a company Mr A Whiteley is a director and shareholder of. These were in the normal course of business and at arms length |
The company was owed £13250 by Motorhomes North Limited at the period end, a company which both Mr A Whiteley and Mr B Duffield is a director and shareholder of. |
11. | RECONCILIATION OF MOVEMENTS IN RESERVES |
31.12.21 | 31.1.21 |
£ | £ |
Profit for the financial period |
Dividends | ( |
) | ( |
) |
279,691 | 372,591 |
Opening Share Holders Funds | - | 540,516 |
Net addition to reserves | 279,691 | 913,107 |
Opening reserves | 913,107 | - |
Closing reserves | 1,192,798 | 913,107 |