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REGISTERED NUMBER: 07918241 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

ACTION PLAY AND LEISURE LTD

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACTION PLAY AND LEISURE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: A J Menaul
D E Barker





REGISTERED OFFICE: Unit 1 Old Hall Farm Barns
Hall Road
Carleton Rode
Norfolk
NR16 1ND





REGISTERED NUMBER: 07918241 (England and Wales)






ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,818 10,703

CURRENT ASSETS
Stocks 149,415 112,240
Debtors 5 107,310 85,204
Cash at bank 33 33
256,758 197,477
CREDITORS
Amounts falling due within one year 6 235,636 169,815
NET CURRENT ASSETS 21,122 27,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,940

38,365

CREDITORS
Amounts falling due after more than one
year

7

(36,223

)

(33,838

)

PROVISIONS FOR LIABILITIES (5,455 ) (2,034 )
NET ASSETS 1,262 2,493

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 1,252 2,483
SHAREHOLDERS' FUNDS 1,262 2,493

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

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

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

BALANCE SHEET - continued
31 JANUARY 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 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 10 October 2023 and were signed on its behalf by:





A J Menaul - Director


ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

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

1. STATUTORY INFORMATION

Action Play 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its 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.

The following criteria must also be met before revenue is recognised:

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods.

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.

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.

Depreciation is provided on the following basis:

Plant and machinery - 15% reducing balance
Website costs - 33% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 15% reducing balance

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 the Statement of Income and retained earnings.

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

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

2. ACCOUNTING POLICIES - continued

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first in, first out method.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

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.

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.

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Website Motor Computer
machinery costs vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 2,618 26,443 38,585 4,784 72,430
Additions 1,512 - 19,495 - 21,007
Disposals - - (18,000 ) - (18,000 )
At 31 January 2023 4,130 26,443 40,080 4,784 75,437
DEPRECIATION
At 1 February 2022 1,573 26,443 30,739 2,972 61,727
Charge for year 383 - 6,034 271 6,688
Eliminated on disposal - - (14,796 ) - (14,796 )
At 31 January 2023 1,956 26,443 21,977 3,243 53,619
NET BOOK VALUE
At 31 January 2023 2,174 - 18,103 1,541 21,818
At 31 January 2022 1,045 - 7,846 1,812 10,703

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 19,495
At 31 January 2023 19,495
DEPRECIATION
Charge for year 4,874
At 31 January 2023 4,874
NET BOOK VALUE
At 31 January 2023 14,621

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,224 41,789
Other debtors 31,086 43,415
107,310 85,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 30,404 56,482
Hire purchase contracts 4,256 -
Trade creditors 125,255 57,147
Taxation and social security 68,899 47,152
Other creditors 6,822 9,034
235,636 169,815

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,192 33,838
Hire purchase contracts 12,031 -
36,223 33,838

ACTION PLAY AND LEISURE LTD (REGISTERED NUMBER: 07918241)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 34,840 44,486
Hire purchase contracts 16,287 -
51,127 44,486

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
A J Menaul
Balance outstanding at start of year 15,791 8,721
Amounts advanced 8,975 15,791
Amounts repaid (15,791 ) (8,721 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,975 15,791

D E Barker
Balance outstanding at start of year 24,409 17,201
Amounts advanced 15,721 24,409
Amounts repaid (24,409 ) (17,201 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,721 24,409