Silverfin false 28/02/2023 01/03/2022 28/02/2023 Mr M Panrucker 19/12/2002 Mrs R J Panrucker 19/12/2002 28 November 2023 The principal activity of the Company during the financial year was that of an amusement park. 04616287 2023-02-28 04616287 bus:Director1 2023-02-28 04616287 bus:Director2 2023-02-28 04616287 2022-02-28 04616287 core:CurrentFinancialInstruments 2023-02-28 04616287 core:CurrentFinancialInstruments 2022-02-28 04616287 core:Non-currentFinancialInstruments 2023-02-28 04616287 core:Non-currentFinancialInstruments 2022-02-28 04616287 core:ShareCapital 2023-02-28 04616287 core:ShareCapital 2022-02-28 04616287 core:RetainedEarningsAccumulatedLosses 2023-02-28 04616287 core:RetainedEarningsAccumulatedLosses 2022-02-28 04616287 core:Goodwill 2022-02-28 04616287 core:Goodwill 2023-02-28 04616287 core:LandBuildings 2022-02-28 04616287 core:PlantMachinery 2022-02-28 04616287 core:FurnitureFittings 2022-02-28 04616287 core:OfficeEquipment 2022-02-28 04616287 core:LandBuildings 2023-02-28 04616287 core:PlantMachinery 2023-02-28 04616287 core:FurnitureFittings 2023-02-28 04616287 core:OfficeEquipment 2023-02-28 04616287 2022-03-01 2023-02-28 04616287 bus:FullAccounts 2022-03-01 2023-02-28 04616287 bus:SmallEntities 2022-03-01 2023-02-28 04616287 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04616287 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04616287 bus:Director1 2022-03-01 2023-02-28 04616287 bus:Director2 2022-03-01 2023-02-28 04616287 core:Goodwill core:TopRangeValue 2022-03-01 2023-02-28 04616287 core:PlantMachinery 2022-03-01 2023-02-28 04616287 core:FurnitureFittings 2022-03-01 2023-02-28 04616287 core:OfficeEquipment 2022-03-01 2023-02-28 04616287 2021-03-01 2022-02-28 04616287 core:Goodwill 2022-03-01 2023-02-28 04616287 core:LandBuildings 2022-03-01 2023-02-28 04616287 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Company No: 04616287 (England and Wales)

LEISURERANCH LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

LEISURERANCH LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

LEISURERANCH LIMITED

BALANCE SHEET

As at 28 February 2023
LEISURERANCH LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 4,250
Tangible assets 4 11,976 14,143
11,976 18,393
Current assets
Debtors 5 9,837 184
Cash at bank and in hand 75,797 90,243
85,634 90,427
Creditors: amounts falling due within one year 6 ( 92,089) ( 42,411)
Net current (liabilities)/assets (6,455) 48,016
Total assets less current liabilities 5,521 66,409
Creditors: amounts falling due after more than one year 7 ( 6,000) ( 43,465)
Provision for liabilities ( 2,520) ( 1,687)
Net (liabilities)/assets ( 2,999) 21,257
Capital and reserves
Called-up share capital 1,500 1,500
Profit and loss account ( 4,499 ) 19,757
Total shareholders' (deficit)/funds ( 2,999) 21,257

For the financial 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.

Directors' responsibilities:

The financial statements of Leisureranch Limited (registered number: 04616287) were approved and authorised for issue by the Director on 28 November 2023. They were signed on its behalf by:

Mr M Panrucker
Director
Mrs R J Panrucker
Director
LEISURERANCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
LEISURERANCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Leisureranch Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £2,999. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2022 85,000 85,000
At 28 February 2023 85,000 85,000
Accumulated amortisation
At 01 March 2022 80,750 80,750
Charge for the financial year 4,250 4,250
At 28 February 2023 85,000 85,000
Net book value
At 28 February 2023 0 0
At 28 February 2022 4,250 4,250

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 March 2022 1 117,528 728 1,754 120,011
At 28 February 2023 1 117,528 728 1,754 120,011
Accumulated depreciation
At 01 March 2022 0 103,948 624 1,296 105,868
Charge for the financial year 0 2,037 16 114 2,167
At 28 February 2023 0 105,985 640 1,410 108,035
Net book value
At 28 February 2023 1 11,543 88 344 11,976
At 28 February 2022 1 13,580 104 458 14,143

5. Debtors

2023 2022
£ £
Corporation tax 4,087 0
Other debtors 5,750 184
9,837 184

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 25,456 6,499
Taxation and social security 1,256 9,897
Other creditors 65,377 26,015
92,089 42,411

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 25,465
Other creditors 6,000 18,000
6,000 43,465

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 March 2022 the balance due to the directors was £655. During the year, £42,679 was advanced and £42,531 was repaid. At 28 February 2023 the balance due to the directors was £507.

At 1 March 2021 the balance owed by the directors was £2,753. During the year, £19,904 was advanced and £23,312 was repaid. At 28 February 2022 the balance due to the directors was £655.