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REGISTERED NUMBER: SC354568 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

LEISURE ISLAND (SCOTLAND) LTD.

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEISURE ISLAND (SCOTLAND) LTD.

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: R Di Ciacca
H Smith
H Smith





SECRETARY: H Smith





REGISTERED OFFICE: C/O Kean Jarman & Co.
27 Ingram Street
Glasgow
G1 1HA





REGISTERED NUMBER: SC354568 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,973 120,189

CURRENT ASSETS
Debtors 5 5,101 19,994
Cash at bank and in hand 64,509 63,537
69,610 83,531
CREDITORS
Amounts falling due within one year 6 80,623 78,235
NET CURRENT (LIABILITIES)/ASSETS (11,013 ) 5,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

124,960

125,485

CREDITORS
Amounts falling due after more than one
year

7

(32,531

)

(41,666

)

PROVISIONS FOR LIABILITIES (23,134 ) (19,543 )
NET ASSETS 69,295 64,276

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 69,195 64,176
SHAREHOLDERS' FUNDS 69,295 64,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

BALANCE SHEET - continued
28 February 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 27 October 2023 and were signed on its behalf by:




R Di Ciacca - Director



H Smith - Director


LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Leisure Island (Scotland) Ltd. 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 March 2022 11,476 515,392 1,635 528,503
Additions - 39,780 - 39,780
At 28 February 2023 11,476 555,172 1,635 568,283
DEPRECIATION
At 1 March 2022 11,476 395,938 900 408,314
Charge for year - 23,885 111 23,996
At 28 February 2023 11,476 419,823 1,011 432,310
NET BOOK VALUE
At 28 February 2023 - 135,349 624 135,973
At 28 February 2022 - 119,454 735 120,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Prepayments and accrued income 5,101 19,994

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,568 8,333
Social security and other taxes 3,081 1,229
Other creditors 469 469
Directors' current accounts 63,948 63,948
Accrued expenses 3,557 4,256
80,623 78,235

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 9,568 8,333
Bank loans - 2-5 years 22,963 25,000
Bank loans more 5 yr by instal - 8,333
32,531 41,666

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,333

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 126,000 126,000
Between one and five years 504,000 504,000
In more than five years 882,000 1,008,000
1,512,000 1,638,000

9. RELATED PARTY DISCLOSURES

The directors of the company were owed £63,948 (2022-£63,948) at the year end. £63,948 was the maximum amount outstanding during the year.