Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-315The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01falseNo description of principal activity5falsetrue SC413968 2022-02-01 2023-01-31 SC413968 2021-02-01 2022-01-31 SC413968 2023-01-31 SC413968 2022-01-31 SC413968 c:Director1 2022-02-01 2023-01-31 SC413968 c:Director2 2022-02-01 2023-01-31 SC413968 c:RegisteredOffice 2022-02-01 2023-01-31 SC413968 d:Buildings 2022-02-01 2023-01-31 SC413968 d:Buildings 2023-01-31 SC413968 d:Buildings 2022-01-31 SC413968 d:Buildings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:PlantMachinery 2022-02-01 2023-01-31 SC413968 d:PlantMachinery 2023-01-31 SC413968 d:PlantMachinery 2022-01-31 SC413968 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:MotorVehicles 2022-02-01 2023-01-31 SC413968 d:MotorVehicles 2023-01-31 SC413968 d:MotorVehicles 2022-01-31 SC413968 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:OfficeEquipment 2022-02-01 2023-01-31 SC413968 d:OfficeEquipment 2023-01-31 SC413968 d:OfficeEquipment 2022-01-31 SC413968 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 SC413968 d:OtherPropertyPlantEquipment 2023-01-31 SC413968 d:OtherPropertyPlantEquipment 2022-01-31 SC413968 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 SC413968 d:Goodwill 2022-02-01 2023-01-31 SC413968 d:Goodwill 2023-01-31 SC413968 d:Goodwill 2022-01-31 SC413968 d:CurrentFinancialInstruments 2023-01-31 SC413968 d:CurrentFinancialInstruments 2022-01-31 SC413968 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC413968 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 SC413968 d:ShareCapital 2023-01-31 SC413968 d:ShareCapital 2022-01-31 SC413968 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC413968 d:RetainedEarningsAccumulatedLosses 2022-01-31 SC413968 c:OrdinaryShareClass1 2022-02-01 2023-01-31 SC413968 c:OrdinaryShareClass1 2023-01-31 SC413968 c:OrdinaryShareClass1 2022-01-31 SC413968 c:FRS102 2022-02-01 2023-01-31 SC413968 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 SC413968 c:FullAccounts 2022-02-01 2023-01-31 SC413968 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC413968 d:Goodwill d:OwnedIntangibleAssets 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC413968










MHR LEISURE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

 
MHR LEISURE LIMITED
 

COMPANY INFORMATION


Directors
S Dishington 
R A W Dishington 




Registered number
SC413968



Registered office
14 City Quay
Camperdown Street

Dundee

DD1 3JA




Trading Address
Drumshademuir Caravan Park
Roundyhill

Forfar

Angus

DD8 1QT






Accountants
EQ Accountants LLP

14 City Quay

Dundee

DD1 3JA





 
MHR LEISURE LIMITED
REGISTERED NUMBER: SC413968

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
225,000
250,000

Tangible assets
 5 
1,037,329
1,037,633

  
1,262,329
1,287,633

Current assets
  

Stocks
  
24,069
18,240

Debtors: amounts falling due within one year
 6 
4,886
1,102

Cash at bank and in hand
  
145,545
88,038

  
174,500
107,380

Creditors: amounts falling due within one year
 7 
(1,011,352)
(1,056,831)

Net current liabilities
  
 
 
(836,852)
 
 
(949,451)

Total assets less current liabilities
  
425,477
338,182

Provisions for liabilities
  

Deferred tax
  
(14,281)
(10,911)

  
 
 
(14,281)
 
 
(10,911)

Net assets
  
411,196
327,271


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
411,096
327,171

  
411,196
327,271


Page 1

 
MHR LEISURE LIMITED
REGISTERED NUMBER: SC413968

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 October 2023.




R A W Dishington
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

MHR Leisure Limited is a private company, limited by shares, domiciled in Scotland with registration number SC413968. The registered office is 14 City Quay, Camperdown Street, Dundee, DD1 3JA. The company's trading address is Drumshademuir Caravan Park, Roundyhill, Forfar, DD8 1QT.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

During the year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic:
Coronavirus Job Retention Scheme (CJRS) which is recognised when receivable.
Small Business Grants Fund (SBGF) recognised in full when received.

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.


Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
15% straight line
Motor vehicles
-
25% straight line
Office equipment
-
20% straight line
Caravans
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 6

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2022
500,000



At 31 January 2023

500,000



Amortisation


At 1 February 2022
250,000


Charge for the year on owned assets
25,000



At 31 January 2023

275,000



Net book value



At 31 January 2023
225,000



At 31 January 2022
250,000



Page 7

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Caravans

£
£
£
£
£



Cost or valuation


At 1 February 2022
980,208
75,274
26,500
4,238
60,633


Additions
-
11,224
-
499
-


Disposals
-
(16,750)
-
-
-



At 31 January 2023

980,208
69,748
26,500
4,737
60,633



Depreciation


At 1 February 2022
-
38,891
6,625
3,076
60,628


Charge for the year on owned assets
-
4,949
6,625
448
4


Disposals
-
(16,749)
-
-
-



At 31 January 2023

-
27,091
13,250
3,524
60,632



Net book value



At 31 January 2023
980,208
42,657
13,250
1,213
1



At 31 January 2022
980,208
36,383
19,875
1,162
5
Page 8

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 February 2022
1,146,853


Additions
11,723


Disposals
(16,750)



At 31 January 2023

1,141,826



Depreciation


At 1 February 2022
109,220


Charge for the year on owned assets
12,026


Disposals
(16,749)



At 31 January 2023

104,497



Net book value



At 31 January 2023
1,037,329



At 31 January 2022
1,037,633

Page 9

 
MHR LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,025
155

Other debtors
-
86

Prepayments and accrued income
3,861
861

4,886
1,102



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
34,395

Trade creditors
4,118
4,489

Other taxation and social security
27,102
20,030

Other creditors
953,902
969,780

Accruals and deferred income
26,230
28,137

1,011,352
1,056,831


The bank loan is secured by a bond and floating charge over the property and all the assets of the company.


8.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



Page 10