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LATINO'S LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022






LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

LATINO'S LEISURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: Mr J C Gomes Coelho
Mr J A da Costa Loureiro
Mrs M F de Freitas Pereira





SECRETARY: Mr J A da Costa Loureiro





REGISTERED OFFICE: Charter House
103 - 105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL





REGISTERED NUMBER: 06534838 (England and Wales)





ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL

LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

BALANCE SHEET
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,188 13,736
10,188 13,736

CURRENT ASSETS
Stocks 8,117 4,706
Debtors 6 2,041 1,855
Cash at bank and in hand 51,951 29,701
62,109 36,262
CREDITORS
Amounts falling due within one year 7 50,668 33,301
NET CURRENT ASSETS 11,441 2,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,629

16,697

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 21,519 16,587
SHAREHOLDERS' FUNDS 21,629 16,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

BALANCE SHEET - continued
31ST MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th October 2023 and were signed on its behalf by:




Mr J C Gomes Coelho - Director Mr J A da Costa Loureiro - Director




Mrs M F de Freitas Pereira - Director


LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Latino's 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 2008, 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.
Short leasehold - in accordance with the property
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 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.


LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 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 11 (2021 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2021
and 31st March 2022 170,000
AMORTISATION
At 1st April 2021
and 31st March 2022 170,000
NET BOOK VALUE
At 31st March 2022 -
At 31st March 2021 -

LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1st April 2021 60,215 84,076 275 144,566
Additions - 1,340 - 1,340
At 31st March 2022 60,215 85,416 275 145,906
DEPRECIATION
At 1st April 2021 58,542 72,013 275 130,830
Charge for year 1,673 3,215 - 4,888
At 31st March 2022 60,215 75,228 275 135,718
NET BOOK VALUE
At 31st March 2022 - 10,188 - 10,188
At 31st March 2021 1,673 12,063 - 13,736

6. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 665 25
Prepayments 1,376 1,439
2,041 1,464

Amounts falling due after more than one year:
Other debtors - 391

Aggregate amounts 2,041 1,855

LATINO'S LEISURE LIMITED (REGISTERED NUMBER: 06534838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 7,665 6,042
Business credit card 6,846 1,735
Corporation tax 19,134 9,576
Social security and other taxes 8,915 11,475
Other creditors 3,192 907
Directors' current accounts 1,681 1,739
Accrued expenses 3,235 1,827
50,668 33,301

8. RELATED PARTY DISCLOSURES

The company had previously made a loan to Salsa Restaurant Limited. The loan was fully repaid in the year and an interest payment of £1,200 was paid to Latino's Leisure Limited, as shown in other income.

One of the directors of Salsa Restaurant Limited is also director of Latino's Leisure Limited.

9. ULTIMATE CONTROLLING PARTY

During the period the company was controlled by the directors.

LATINO'S LEISURE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
LATINO'S LEISURE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2022 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


5th October 2023