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COMPANY REGISTRATION NUMBER: 11730342
ESG Leisure Limited
Filleted Unaudited Financial Statements
31 March 2023
ESG Leisure Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
89,934
105,248
Current assets
Stocks
16,839
5,826
Debtors
6
94,617
85,673
Cash at bank and in hand
209,433
111,718
---------
---------
320,889
203,217
Creditors: amounts falling due within one year
7
116,817
120,356
---------
---------
Net current assets
204,072
82,861
---------
---------
Total assets less current liabilities
294,006
188,109
Creditors: amounts falling due after more than one year
8
90,152
121,061
Provisions
22,483
---------
---------
Net assets
181,371
67,048
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
181,271
66,948
---------
--------
Shareholders funds
181,371
67,048
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ESG Leisure Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 30 June 2023 , and are signed on behalf of the board by:
Mrs S Greaves
Director
Company registration number: 11730342
ESG Leisure Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Metz Way, Easton Avenue, Gloucester, Gloucestershire, GL4 3DB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 39 (2022: 35 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Leasehold improvements
Total
£
£
£
£
£
Cost
At 1 April 2022
119,686
41,965
3,349
165,000
Additions
224
2,357
1,509
16,000
20,090
---------
--------
-------
--------
---------
At 31 March 2023
119,910
44,322
4,858
16,000
185,090
---------
--------
-------
--------
---------
Depreciation
At 1 April 2022
47,216
9,535
3,001
59,752
Charge for the year
23,939
10,504
961
35,404
---------
--------
-------
--------
---------
At 31 March 2023
71,155
20,039
3,962
95,156
---------
--------
-------
--------
---------
Carrying amount
At 31 March 2023
48,755
24,283
896
16,000
89,934
---------
--------
-------
--------
---------
At 31 March 2022
72,470
32,430
348
105,248
---------
--------
-------
--------
---------
6. Debtors
2023
2022
£
£
Other debtors
94,617
85,673
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
30,909
30,909
Amounts owed to group undertakings and undertakings in which the company has a participating interest
43,379
Corporation tax
42,395
Social security and other taxes
29,354
11,698
Other creditors
14,159
34,370
---------
---------
116,817
120,356
---------
---------
The bank loan is secured by a fixed and floating charge over the company's assets.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
90,152
121,061
--------
---------
The bank loan is secured by a fixed and floating charge over the company's assets.
9. Other financial commitments
The company had total guarantees and commitments at the balance sheet date of £173,668 (2022: £311,183)