2 31/07/2023 2023-07-31 true false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-08-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01381798 2022-08-01 2023-07-31 01381798 2023-07-31 01381798 2022-07-31 01381798 2021-08-01 2022-07-31 01381798 2022-07-31 01381798 2021-07-31 01381798 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 01381798 core:PlantMachinery 2022-08-01 2023-07-31 01381798 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 01381798 bus:RegisteredOffice 2022-08-01 2023-07-31 01381798 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 01381798 bus:LeadAgentIfApplicable 2022-08-01 2023-07-31 01381798 bus:Director1 2022-08-01 2023-07-31 01381798 bus:Director2 2022-08-01 2023-07-31 01381798 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 01381798 core:PlantMachinery 2022-07-31 01381798 core:FurnitureFittingsToolsEquipment 2022-07-31 01381798 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 01381798 core:PlantMachinery 2023-07-31 01381798 core:FurnitureFittingsToolsEquipment 2023-07-31 01381798 core:HedgingReserve 2021-08-01 2022-07-31 01381798 core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 01381798 core:HedgingReserve 2022-08-01 2023-07-31 01381798 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 01381798 core:WithinOneYear 2023-07-31 01381798 core:WithinOneYear 2022-07-31 01381798 core:ShareCapital 2023-07-31 01381798 core:ShareCapital 2022-07-31 01381798 core:HedgingReserve 2023-07-31 01381798 core:HedgingReserve 2022-07-31 01381798 core:RetainedEarningsAccumulatedLosses 2023-07-31 01381798 core:RetainedEarningsAccumulatedLosses 2022-07-31 01381798 core:ShareCapital 2021-07-31 01381798 core:HedgingReserve 2021-07-31 01381798 core:RetainedEarningsAccumulatedLosses 2021-07-31 01381798 bus:OrdinaryShareClass1 core:ShareCapital 2023-07-31 01381798 bus:OrdinaryShareClass1 core:ShareCapital 2022-07-31 01381798 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 01381798 core:PlantMachinery 2022-07-31 01381798 core:FurnitureFittingsToolsEquipment 2022-07-31 01381798 bus:SmallEntities 2022-08-01 2023-07-31 01381798 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 01381798 bus:FullAccounts 2022-08-01 2023-07-31 01381798 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 01381798 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 01381798 core:InvestmentPropertiesRevaluationReserve 2021-07-31 01381798 core:InvestmentPropertiesRevaluationReserve 2022-07-31 01381798 core:InvestmentPropertiesRevaluationReserve 2023-07-31
Company registration number: 01381798
Darwen Sun Leisure Limited
Unaudited filleted financial statements
31 July 2023
Darwen Sun Leisure Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Darwen Sun Leisure Limited
Directors and other information
Directors G Hoyle
B Smith
Company number 01381798
Registered office 56/58 Blackburn Road
Darwen
Lancashire
BB3 1QJ
Business address 56/58 Blackburn Road
Darwen
Lancashire
BB3 1QJ
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Darwen Sun Leisure Limited
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 148,281 154,365
_______ _______
148,281 154,365
Current assets
Stocks 800 600
Debtors 6 1,039 993
Cash at bank and in hand 176,916 161,777
_______ _______
178,755 163,370
Creditors: amounts falling due
within one year 7 ( 182,904) ( 189,523)
_______ _______
Net current liabilities ( 4,149) ( 26,153)
_______ _______
Total assets less current liabilities 144,132 128,212
Provisions for liabilities ( 13,288) ( 14,443)
_______ _______
Net assets 130,844 113,769
_______ _______
Capital and reserves
Called up share capital 8 100 100
Fair value reserve 42,359 38,772
Profit and loss account 88,385 74,897
_______ _______
Shareholders funds 130,844 113,769
_______ _______
For the year ending 31 July 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 November 2023 , and are signed on behalf of the board by:
B Smith
Director
Company registration number: 01381798
Darwen Sun Leisure Limited
Statement of changes in equity
Year ended 31 July 2023
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 August 2021 100 23,062 54,191 77,353
Profit for the year 38,436 38,436
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account 15,710 (15,710) -
_______ _______ _______ _______
Total comprehensive income for the year - 15,710 22,726 38,436
Dividends paid and payable ( 2,020) ( 2,020)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 2,020) ( 2,020)
_______ _______ _______ _______
At 31 July 2022 and 1 August 2022 100 38,772 74,896 113,768
Profit for the year 19,096 19,096
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account 3,587 (3,587) -
_______ _______ _______ _______
Total comprehensive income for the year - 3,587 15,509 19,096
Dividends paid and payable ( 2,020) ( 2,020)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 2,020) ( 2,020)
_______ _______ _______ _______
At 31 July 2023 100 42,359 88,385 130,844
_______ _______ _______ _______
Darwen Sun Leisure Limited
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Darwen Sun Leisure, 56/58 Blackburn Road, Darwen, Lancashire, BB3 1QJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property - 5 % straight line
Sunbeds - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their 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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost or valuation
At 1 August 2022 268,942 146,234 7,029 422,205
Revaluation 4,429 - - 4,429
_______ _______ _______ _______
At 31 July 2023 273,371 146,234 7,029 426,634
_______ _______ _______ _______
Depreciation
At 1 August 2022 128,147 133,995 5,698 267,840
Charge for the year 7,121 3,060 332 10,513
_______ _______ _______ _______
At 31 July 2023 135,268 137,055 6,030 278,353
_______ _______ _______ _______
Carrying amount
At 31 July 2023 138,103 9,179 999 148,281
_______ _______ _______ _______
At 31 July 2022 140,795 12,239 1,331 154,365
_______ _______ _______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 August 2022 126,552
Fair value adjustments 4,429
_______
At 31 July 2023 130,981
_______
Investment properties have been revalued in line with the house price index.
6. Debtors
2023 2022
£ £
Other debtors 1,039 993
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 336 619
Corporation tax 5,667 7,574
Social security and other taxes 3,968 4,700
Other creditors 172,933 176,630
_______ _______
182,904 189,523
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Related party transactions
At 31 July 2023 the company owed £164,537 to a director (2022: £172,741). No interest has been charged to the company in respect of this loan which is repayable on demand and is classified in creditors due within one year.