Company Registration No. 05220788 (England and Wales)
Spreyer Brothers Leisure Limited
Unaudited accounts
for the year ended 28 February 2023
Spreyer Brothers Leisure Limited
Unaudited accounts
Contents
Spreyer Brothers Leisure Limited
Company Information
for the year ended 28 February 2023
Directors
Mr D M Spreyer
Mr D J Spreyer
Company Number
05220788 (England and Wales)
Registered Office
24 Halden Field
Rolvenden
Cranbrook
Kent
TN17 4BX
England
Accountants
Southern Accounting Limited
24 Halden Field
Rolvenden
Cranbrook
Kent
TN17 4BX
Spreyer Brothers Leisure Limited
Statement of financial position
as at 28 February 2023
Intangible assets
195,000
-
Tangible assets
10,793,592
9,487,198
Cash at bank and in hand
91,086
46,463
Creditors: amounts falling due within one year
(1,606,119)
(1,179,883)
Net current liabilities
(1,379,606)
(1,024,431)
Total assets less current liabilities
9,609,085
8,462,866
Creditors: amounts falling due after more than one year
(3,238,220)
(2,516,800)
Provisions for liabilities
Deferred tax
(1,107,774)
(1,058,103)
Net assets
5,263,091
4,887,963
Spreyer Brothers Leisure Limited
Statement of financial position
as at 28 February 2023 (continued)
Called up share capital
68
68
Revaluation reserve
4,555,966
4,555,966
Capital redemption reserve
34
34
Capital contribution reserve
(1,704,933)
(1,704,933)
Profit and loss account
2,411,956
2,036,828
Shareholders' funds
5,263,091
4,887,963
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by
Mr D J Spreyer
Director
Company Registration No. 05220788
Spreyer Brothers Leisure Limited
Notes to the Accounts
for the year ended 28 February 2023
Spreyer Brothers Leisure Limited is a private company, limited by shares, registered in England and Wales, registration number 05220788. The registered office is 24 Halden Field, Rolvenden, Cranbrook, Kent, TN17 4BX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on Cost
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in unlisted shares are included at cost.
Spreyer Brothers Leisure Limited
Notes to the Accounts
for the year ended 28 February 2023
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Intangible fixed assets
Goodwill
At 28 February 2023
1,233,990
Charge for the year
39,000
At 28 February 2023
1,038,990
At 28 February 2023
195,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2022
9,766,062
734,494
10,270
88,216
3,759
10,602,801
Additions
1,004,554
373,000
13,000
-
-
1,390,554
At 28 February 2023
10,770,616
1,107,494
23,270
88,216
3,759
11,993,355
At 1 March 2022
351,902
672,666
9,892
78,046
3,097
1,115,603
Charge for the year
41,213
37,927
2,605
2,250
165
84,160
At 28 February 2023
393,115
710,593
12,497
80,296
3,262
1,199,763
At 28 February 2023
10,377,501
396,901
10,773
7,920
497
10,793,592
At 28 February 2022
9,414,160
61,828
378
10,170
662
9,487,198
Carrying amount of land and buildings on cost basis
5,006,349
4,001,829
Freehold land and buildings were independently valued on an open market basis on 31 August 2021 by Colliers.
Spreyer Brothers Leisure Limited
Notes to the Accounts
for the year ended 28 February 2023
6
Investments
Subsidiary undertakings
Valuation at 1 March 2022
99
Valuation at 28 February 2023
99
Amounts falling due within one year
Other debtors
105,489
108,989
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
847,352
270,848
Amounts owed to group undertakings and other participating interests
583,314
740,803
Taxes and social security
3,282
3,507
Loans from directors
166,819
159,533
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
2,878,220
2,516,800
Amounts owed to group undertakings and other participating interests
360,000
-
Aggregate of amounts that fall due for payment after five years
1,955,513
1,375,151
Spreyer Brothers Leisure Limited
Notes to the Accounts
for the year ended 28 February 2023
10
Deferred taxation
2023
2022
Accelerated capital allowances
39,091
(10,580)
Revaluation of land and buildings
1,068,683
1,068,683
Provision at start of year
1,058,103
337,471
Charged/(credited) to the profit and loss account
49,671
(23,151)
Charged to other comprehensive income
-
743,783
Provision at end of year
1,107,774
1,058,103
Allotted, called up and fully paid:
66 Ordinary of £1 each
66
66
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
12
Transactions with related parties
At the balance sheet date, the company had an outstanding loan due from Spreyer Brothers Ltd was £105,456 (2022: £108,956). The loan is interest free and repayable upon demand.
During the year, the company received a loan of £180,000 from Spreyer Destinations Ltd to facilitate the purchase of a new caravan park. This is a company under the common control of director, D J Spreyer. As at the balance sheet date, the outstanding loan due to Spreyer Destinations Ltd was £180,000 (2022: £0)
During the year, the company received a loan of £180,000 from D.M. Spreyer Holdings Ltd to facilitate the purchase of a new caravan park. This is a company under the common control of director, D M Spreyer. As at the balance sheet date, the outstanding loan due to D.M. Spreyer Holdings Ltd was £180,000 (2022: £0)
13
Average number of employees
During the year the average number of employees was 18 (2022: 20).