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REGISTERED NUMBER: SC131147 (Scotland)















Financial Statements For The Year Ended 31 October 2022

for

Lesuretec Limited

Lesuretec Limited (Registered number: SC131147)






Contents of the Financial Statements
For The Year Ended 31 October 2022




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Lesuretec Limited

Company Information
For The Year Ended 31 October 2022







DIRECTORS: R Di Ciacca
L Di Ciacca
Mrs C Di Ciacca
Miss S Di Ciacca





REGISTERED OFFICE: c/o Robb Ferguson
Chartered Accountants
70 West Regent Street
Glasgow
G2 2QZ





REGISTERED NUMBER: SC131147 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Lesuretec Limited (Registered number: SC131147)

Abridged Statement of Financial Position
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,483 445
Investments 5 88,510 63,331
Investment property 6 2,389,615 2,288,109
2,479,608 2,351,885

CURRENT ASSETS
Debtors 7 45,530 147,962
Cash at bank 68,865 161,858
114,395 309,820
CREDITORS
Amounts falling due within one year 2,502,515 2,157,843
NET CURRENT LIABILITIES (2,388,120 ) (1,848,023 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,488

503,862

CREDITORS
Amounts falling due after more than one
year

8

-

437,746
NET ASSETS 91,488 66,116

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve - (1,255,000 )
Retained earnings 90,488 1,320,116
SHAREHOLDERS' FUNDS 91,488 66,116

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

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

Lesuretec Limited (Registered number: SC131147)

Abridged Statement of Financial Position - continued
31 October 2022


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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 October 2022 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 26 October 2023 and were signed on its behalf by:





R Di Ciacca - Director


Lesuretec Limited (Registered number: SC131147)

Notes to the Financial Statements
For The Year Ended 31 October 2022

1. STATUTORY INFORMATION

Lesuretec Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents income from rents received by the company, exclusive of VAT.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in . the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

Lesuretec Limited (Registered number: SC131147)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2021 35,957
Additions 1,313
At 31 October 2022 37,270
DEPRECIATION
At 1 November 2021 35,512
Charge for year 275
At 31 October 2022 35,787
NET BOOK VALUE
At 31 October 2022 1,483
At 31 October 2021 445

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 November 2021 63,331
Additions 55,850
Disposals (7,292 )
Revaluations (23,379 )
At 31 October 2022 88,510
NET BOOK VALUE
At 31 October 2022 88,510
At 31 October 2021 63,331

Cost or valuation at 31 October 2022 is represented by:
Totals
£   
Valuation in 2022 88,510

Lesuretec Limited (Registered number: SC131147)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2022

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2021 2,288,109
Additions 309,863
Revaluations (208,357 )
At 31 October 2022 2,389,615
NET BOOK VALUE
At 31 October 2022 2,389,615
At 31 October 2021 2,288,109

Fair value at 31 October 2022 is represented by:
£   
Valuation in 2022 2,389,615

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 3,852,972 3,543,109

Investment property was valued on an open market basis on 31 October 2022 by Remo Di Ciacca .

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other debtors 4,000 24,000

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2022 2021
£    £   
Repayable by instalments
Bank loan more than 5 years - 319,058

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 460,000

The lender holds a standard security over the majority of investment properties of the company.