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REGISTERED NUMBER: 04662834 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Abbey Sports And Leisure Ltd

Abbey Sports And Leisure Ltd (Registered number: 04662834)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abbey Sports And Leisure Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTORS: P D Taylor
G Taylor





SECRETARY: P D Taylor





REGISTERED OFFICE: St. Oswald's Road
Gloucester
Gloucestershire
GL1 2TF





REGISTERED NUMBER: 04662834 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Abbey Sports And Leisure Ltd (Registered number: 04662834)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4 4
Tangible assets 5 590,034 616,423
590,038 616,427

CURRENT ASSETS
Stocks 6,005 3,796
Debtors 6 26,720 13,048
Cash at bank and in hand 104,634 38,470
137,359 55,314
CREDITORS
Amounts falling due within one year 7 95,662 77,457
NET CURRENT ASSETS/(LIABILITIES) 41,697 (22,143 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

631,735

594,284

CREDITORS
Amounts falling due after more than one
year

8

(539,000

)

(609,000

)

PROVISIONS FOR LIABILITIES (27,479 ) (25,979 )
NET ASSETS/(LIABILITIES) 65,256 (40,695 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 64,256 (41,695 )
65,256 (40,695 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Abbey Sports And Leisure Ltd (Registered number: 04662834)

Balance Sheet - continued
31 March 2023


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 6 October 2023 and were signed on its behalf by:





P D Taylor - Director


Abbey Sports And Leisure Ltd (Registered number: 04662834)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Abbey Sports And Leisure 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 directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

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

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 - 2% on cost
Fixtures and fittings - 15% 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year.

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Abbey Sports And Leisure Ltd (Registered number: 04662834)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

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 37 (2022 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 1 3 4
NET BOOK VALUE
At 31 March 2023 1 3 4
At 31 March 2022 1 3 4

Abbey Sports And Leisure Ltd (Registered number: 04662834)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022 507,783 1,020,172 1,527,955
Additions - 9,205 9,205
Disposals - (1,289 ) (1,289 )
At 31 March 2023 507,783 1,028,088 1,535,871
DEPRECIATION
At 1 April 2022 60,935 850,597 911,532
Charge for year 10,156 25,454 35,610
Eliminated on disposal - (1,305 ) (1,305 )
At 31 March 2023 71,091 874,746 945,837
NET BOOK VALUE
At 31 March 2023 436,692 153,342 590,034
At 31 March 2022 446,848 169,575 616,423

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 563 2,748
Other debtors 26,157 10,300
26,720 13,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 47,777 34,158
Taxation and social security 45,973 42,387
Other creditors 1,912 912
95,662 77,457

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 539,000 609,000

9. RELATED PARTY DISCLOSURES

Included in other creditors: amounts falling due after more than one year, is a balance of £539,000 (2022 £609,000) due to Riverside Sports And Leisure Ltd, a company in which the directors have an interest. The balance is unsecured, interest free and carries no fixed date of repayment.