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Unaudited Financial Statements

for the Year Ended 28 February 2022

for

Newhaven Leisure Limited

Newhaven Leisure Limited (Registered number: 10641084)

Contents of the Financial Statements
for the Year Ended 28 February 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newhaven Leisure Limited

Company Information
for the Year Ended 28 February 2022







DIRECTORS: Mrs K L Rockingham
G W Heason Rockingham





REGISTERED OFFICE: 8/10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 10641084 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Newhaven Leisure Limited (Registered number: 10641084)

Balance Sheet
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,454,765 2,483,051
2,454,765 2,483,051

CURRENT ASSETS
Stocks 6 7,975 4,060
Debtors 7 82,581 63,894
Cash at bank and in hand 293,369 113,056
383,925 181,010
CREDITORS
Amounts falling due within one year 8 2,137,812 1,927,363
NET CURRENT LIABILITIES (1,753,887 ) (1,746,353 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

700,878

736,698

CREDITORS
Amounts falling due after more than one
year

9

588,101

646,439
NET ASSETS 112,777 90,259

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 112,677 90,159
SHAREHOLDERS' FUNDS 112,777 90,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

Newhaven Leisure Limited (Registered number: 10641084)

Balance Sheet - continued
28 February 2022


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 6 September 2022 and were signed on its behalf by:




Mrs K L Rockingham - Director



G W Heason Rockingham - Director


Newhaven Leisure Limited (Registered number: 10641084)

Notes to the Financial Statements
for the Year Ended 28 February 2022


1. STATUTORY INFORMATION

Newhaven 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

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 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 balance sheet date.


Newhaven Leisure Limited (Registered number: 10641084)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


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 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.

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 year was 5 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2021
and 28 February 2022 1,500
AMORTISATION
At 1 March 2021
and 28 February 2022 1,500
NET BOOK VALUE
At 28 February 2022 -
At 28 February 2021 -

Newhaven Leisure Limited (Registered number: 10641084)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2021 2,288,824 302,402 36,913
Additions - 76,405 207
At 28 February 2022 2,288,824 378,807 37,120
DEPRECIATION
At 1 March 2021 42,656 86,842 22,056
Charge for year 11,375 86,516 9,245
At 28 February 2022 54,031 173,358 31,301
NET BOOK VALUE
At 28 February 2022 2,234,793 205,449 5,819
At 28 February 2021 2,246,168 215,560 14,857

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2021 25,809 7,623 15,593 2,677,164
Additions - 7,300 - 83,912
At 28 February 2022 25,809 14,923 15,593 2,761,076
DEPRECIATION
At 1 March 2021 24,033 4,350 14,176 194,113
Charge for year 1,776 2,588 698 112,198
At 28 February 2022 25,809 6,938 14,874 306,311
NET BOOK VALUE
At 28 February 2022 - 7,985 719 2,454,765
At 28 February 2021 1,776 3,273 1,417 2,483,051

6. STOCKS
2022 2021
£    £   
Stocks 7,975 4,060

Newhaven Leisure Limited (Registered number: 10641084)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 80,060 40,950
VAT - 20,611
Prepayments 2,521 2,333
82,581 63,894

The Directors' current account balance was fully repaid within 9 months of the year end.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 10) 29,697 -
Preference shares (see note 10) 1,627,792 1,627,792
Tax 26,399 4,012
Social security and other taxes 1,047 800
VAT 24,904 -
Other creditors - 2,000
Directors' current accounts 49,752 44,500
Deferred income 367,600 229,736
Accrued expenses 10,621 18,523
2,137,812 1,927,363

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (see note 10) 588,101 646,439

In May 2018, the company took out a new loan with Handelsbanken for £720,000. The loan has a further 21 years to run.

10. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 29,697 -
Preference shares 1,627,792 1,627,792
1,657,489 1,627,792

Amounts falling due between two and five years:
Bank loans - 2-5 years 588,101 646,439

Newhaven Leisure Limited (Registered number: 10641084)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100