Company registration number 07841844 (England and Wales)
DUNHAM LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
DUNHAM LEISURE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
DUNHAM LEISURE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DUNHAM LEISURE LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dunham Leisure Limited for the year ended 28 February 2023 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the board of directors of Dunham Leisure Limited, as a body, in accordance with the terms of our engagement letter dated 16 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Dunham Leisure Limited and state those matters that we have agreed to state to the board of directors of Dunham Leisure Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dunham Leisure Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Dunham Leisure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dunham Leisure Limited. You consider that Dunham Leisure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dunham Leisure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Azets
27 November 2023
Fleet House
New Road
Lancaster
United Kingdom
LA1 1EZ
DUNHAM LEISURE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,479,233
5,328,339
Current assets
Stocks
6,000
-
Debtors
4
148,457
147,562
Cash at bank and in hand
886,023
860,605
1,040,480
1,008,167
Creditors: amounts falling due within one year
5
(1,328,057)
(806,904)
Net current (liabilities)/assets
(287,577)
201,263
Total assets less current liabilities
5,191,656
5,529,602
Creditors: amounts falling due after more than one year
6
(820,200)
(1,312,400)
Provisions for liabilities
(138,102)
(136,111)
Net assets
4,233,354
4,081,091
Capital and reserves
Called up share capital
7
2,200,000
2,200,000
Profit and loss reserves
2,033,354
1,881,091
Total equity
4,233,354
4,081,091
DUNHAM LEISURE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
Mr S P Dunham
Director
Company Registration No. 07841844
DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information

Dunham Leisure Limited is a private company limited by shares incorporated in England and Wales. The registered office is South Meadows, Belford, Northumberland, United Kingdom, NE70 7DP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, notwithstanding net current liabilities of £287,577. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
not depreciated
Lodge and static caravans
20% straight line
Plant and machinery
25% straight line / 10% straight line
Office equipment
20% straight line
Motor vehicles
25% straight line

Freehold property is not depreciated. The directors are of the opinion that the depreciation charge and accumulated depreciation on freehold property is immaterial owing to these assets having very long useful lives and high residual values. An impairment review is carried out on an annual basis.

DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 5 -

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

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 debtors 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.

DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 6 -
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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
17
17
DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 8 -
3
Tangible fixed assets
Freehold property
Lodge and static caravans
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 March 2022
4,963,997
267,256
312,244
38,305
43,735
5,625,537
Additions
140,367
-
0
45,715
1,507
11,990
199,579
Disposals
-
0
-
0
(16,400)
-
0
-
0
(16,400)
At 28 February 2023
5,104,364
267,256
341,559
39,812
55,725
5,808,716
Depreciation and impairment
At 1 March 2022
-
0
-
0
241,702
29,429
26,067
297,198
Depreciation charged in the year
-
0
-
0
17,581
3,023
13,445
34,049
Eliminated in respect of disposals
-
0
-
0
(1,764)
-
0
-
0
(1,764)
At 28 February 2023
-
0
-
0
257,519
32,452
39,512
329,483
Carrying amount
At 28 February 2023
5,104,364
267,256
84,040
7,360
16,213
5,479,233
At 28 February 2022
4,963,997
267,256
70,542
8,876
17,668
5,328,339
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
65,100
75,021
Other debtors
38,720
49,827
Prepayments and accrued income
44,637
22,714
148,457
147,562
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
493,507
35,288
Trade creditors
112,228
53,781
Corporation tax
104,366
136,992
Other taxation and social security
116,612
48,200
Other creditors
21,323
8,104
Accruals and deferred income
480,021
524,539
1,328,057
806,904
DUNHAM LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
5
Creditors: amounts falling due within one year
(Continued)
- 9 -

Bank loans amounting to £493,507 (2022: £35,288) are secured by fixed and floating charges over the undertaking and all property and assets present and future.

6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
-
0
498,748
Other borrowings
820,200
813,652
820,200
1,312,400

Bank loans amounting to £Nil (2022: £498,748) are secured by fixed and floating charges over the undertaking and all property and assets present and future.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,200,000
2,200,000
2,200,000
2,200,000
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Key management personnel
820,200
813,652

During the year the company was charged interest at 3.5% amounting to £28,000 (2022: £27,791).

9
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director - Loan
-
1,523
3,467
(1,523)
3,467
1,523
3,467
(1,523)
3,467
2023-02-282022-03-01false27 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr S P DunhamMr A P DunhamMs C Dunhamfalse078418442022-03-012023-02-28078418442023-02-28078418442022-02-2807841844core:LandBuildingscore:OwnedOrFreeholdAssets2023-02-2807841844core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-02-2807841844core:PlantMachinery2023-02-2807841844core:FurnitureFittings2023-02-2807841844core:MotorVehicles2023-02-2807841844core:LandBuildingscore:OwnedOrFreeholdAssets2022-02-2807841844core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-02-2807841844core:PlantMachinery2022-02-2807841844core:FurnitureFittings2022-02-2807841844core:MotorVehicles2022-02-2807841844core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2807841844core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2807841844core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2807841844core:Non-currentFinancialInstrumentscore:AfterOneYear2022-02-2807841844core:CurrentFinancialInstruments2023-02-2807841844core:CurrentFinancialInstruments2022-02-2807841844core:Non-currentFinancialInstruments2023-02-2807841844core:Non-currentFinancialInstruments2022-02-2807841844core:ShareCapital2023-02-2807841844core:ShareCapital2022-02-2807841844core:RetainedEarningsAccumulatedLosses2023-02-2807841844core:RetainedEarningsAccumulatedLosses2022-02-2807841844bus:Director12022-03-012023-02-2807841844core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-012023-02-2807841844core:LandBuildingscore:LongLeaseholdAssets2022-03-012023-02-2807841844core:PlantMachinery2022-03-012023-02-2807841844core:FurnitureFittings2022-03-012023-02-2807841844core:MotorVehicles2022-03-012023-02-28078418442021-03-012022-02-2807841844core:LandBuildingscore:OwnedOrFreeholdAssets2022-02-2807841844core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-02-2807841844core:PlantMachinery2022-02-2807841844core:FurnitureFittings2022-02-2807841844core:MotorVehicles2022-02-28078418442022-02-2807841844core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-03-012023-02-2807841844bus:PrivateLimitedCompanyLtd2022-03-012023-02-2807841844bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2807841844bus:FRS1022022-03-012023-02-2807841844bus:AuditExemptWithAccountantsReport2022-03-012023-02-2807841844bus:Director22022-03-012023-02-2807841844bus:Director32022-03-012023-02-2807841844bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP