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REGISTERED NUMBER: 05837595 (England and Wales)












PURE LEISURE ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PURE LEISURE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: J C Morphet
P Rossiter





SECRETARY: P Rossiter





REGISTERED OFFICE: South Lakeland House
Main A6
Yealand Redmayne
Carnforth
Lancashire
LA5 9RN





REGISTERED NUMBER: 05837595 (England and Wales)





AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

ABRIDGED BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,057,567 7,125,311

CURRENT ASSETS
Stocks 421,974 357,115
Debtors 1,195,176 1,577,695
Cash at bank and in hand 856,032 992,210
2,473,182 2,927,020
CREDITORS
Amounts falling due within one year 7,228,952 9,497,754
NET CURRENT LIABILITIES (4,755,770 ) (6,570,734 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,301,797

554,577

PROVISIONS FOR LIABILITIES 23,483 23,483
NET ASSETS 2,278,314 531,094

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,278,313 531,093
2,278,314 531,094

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





P Rossiter - Director


PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

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

1. STATUTORY INFORMATION

Pure Leisure Estates 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts and VAT.

The turnover of the company represents the sale of holiday lodges, income from owners and income generated from the golf and leisure complex.

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
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

Land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises purchase price and all costs incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

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

PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102.

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets
Basic financial assets, which include trade debtors, other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade creditors, other creditors and amounts due to fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Going concern
The financial statements have been prepared on a going concern basis. The company is part of a large profitable group, which will continue to give support and does not intend to place the company under any undue pressure to repay any intercompany loans.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 35 ) .

PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022 16,269,703
Disposals (23,950 )
At 31 January 2023 16,245,753
DEPRECIATION
At 1 February 2022 9,144,392
Charge for year 67,744
Eliminated on disposal (23,950 )
At 31 January 2023 9,188,186
NET BOOK VALUE
At 31 January 2023 7,057,567
At 31 January 2022 7,125,311

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

6. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under Financial Reporting Standard 102 (Section 33.1A) from disclosing transactions with group companies where consolidated financial statements are prepared.

At the year end, there was an amount owing to John Morphet's sole trader businesses amounting to £3,879 (2022: £nil).

PURE LEISURE ESTATES LIMITED (REGISTERED NUMBER: 05837595)

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

7. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate parent undertaking to be Pure Leisure Group Limited, a company incorporated in the United Kingdom. The registered office address for the parent company is:

South Lakeland House
Main A6
Yealand Redmayne
Carnforth
Lancashire
LA5 9RN.

The ultimate controlling party is John Morphet by way of his controlling interest in the ultimate parent undertaking Pure Leisure Group Limited.

The smallest and largest group in which the results of the company are consolidated is that headed by Pure Leisure Group Limited. The consolidated accounts of this group are available to the public and may be obtained from:

The Registrar of Companies
Companies House
Crown Way
Cardiff
CF14 3UZ.