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REGISTERED NUMBER: 03406679 (England and Wales)









BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J C Crouch
C W Scott
R C Hedley





REGISTERED OFFICE: The Havant Leisure Centre
Civic Centre Road
Havant
Hants
PO9 2AY





REGISTERED NUMBER: 03406679 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,478 1,472

CURRENT ASSETS
Stocks 7,412 7,917
Debtors 5 24,875 17,958
Cash at bank 16,509 35,264
48,796 61,139
CREDITORS
Amounts falling due within one year 6 29,598 19,392
NET CURRENT ASSETS 19,198 41,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,676

43,219

CREDITORS
Amounts falling due after more than one
year

7

12,686

-
NET ASSETS 40,990 43,219

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 40,988 43,217
SHAREHOLDERS' FUNDS 40,990 43,219

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

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

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

BALANCE SHEET - continued
31 MARCH 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 26 October 2023 and were signed on its behalf by:





J C Crouch - Director


BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

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

1. STATUTORY INFORMATION

Borough of Havant Sport and Leisure Trading 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.

Its principle activity is the provision of trading activities including cafes within its parent's leisure centres.

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 presentation currency of the financial statements is sterling which is the functional currency of the company and the financial statements are rounded to the nearest £. The financial information of the current period relates to the year ended 31 March 2023 and the comparative information relates to the year ended 31 March 2022.

The following principal accounting policies have been applied:

Going concern
Having assessed the current situation, the directors have considered it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. The measures taken by the company are highlighted in the directors report.

Revenue
Revenue is recognised to the extent that is it probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

the Company has transferred the significant risks and rewards of ownership to the buyer;

the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

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

2. ACCOUNTING POLICIES - continued

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery- 20% - 33%
Fixtures & fittings- 20%
Office equipment- 20%

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 Comprehensive Income.

Government grants
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same
period as the related expenditure.

Interest income
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price.

At each balance sheet date, the stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Trade and other 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.

Trade and other creditors
Short term trade 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.

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.

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 36,437 4,431 3,040 43,908
Additions 15,791 21,996 - 37,787
Disposals (11,450 ) - - (11,450 )
At 31 March 2023 40,778 26,427 3,040 70,245
DEPRECIATION
At 1 April 2022 34,965 4,431 3,040 42,436
Charge for year 2,803 1,978 - 4,781
Eliminated on disposal (11,450 ) - - (11,450 )
At 31 March 2023 26,318 6,409 3,040 35,767
NET BOOK VALUE
At 31 March 2023 14,460 20,018 - 34,478
At 31 March 2022 1,472 - - 1,472

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
COST
Additions 21,996
At 31 March 2023 21,996
DEPRECIATION
Charge for year 1,978
At 31 March 2023 1,978
NET BOOK VALUE
At 31 March 2023 20,018

BOROUGH OF HAVANT SPORT AND LEISURE
TRADING LIMITED (REGISTERED NUMBER: 03406679)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,792 3,203
Amounts owed by group undertakings 19,742 14,755
Other debtors 341 -
24,875 17,958

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,332 -
Trade creditors 9,686 10,028
Taxation and social security 11,139 5,664
Other creditors 1,441 3,700
29,598 19,392

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 12,686 -