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REGISTERED NUMBER: 02581185














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

SUMMIT LEISURE (SWINTON) LIMITED

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUMMIT LEISURE (SWINTON) LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr K Shaw
Mr A Shaw
Miss T Shaw



SECRETARY: Miss T Shaw



REGISTERED OFFICE: Fairway House
Links Business Park
St. Mellons
Cardiff
CF3 OLT



REGISTERED NUMBER: 02581185



ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT



BANKERS: Barclays Bank Plc
1st Floor
3 Hardman Street
Spinningfields
Manchester
M3 3HF



SOLICITORS: Kippax Beaumont Lewis
28 Mawdsley Street
Bolton
Lancs
BL1 1LF

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Balance Sheet
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 57,544 64,519
Tangible assets 5 919,396 927,629
976,940 992,148

CURRENT ASSETS
Stocks 1,612 2,050
Debtors 6 1,496,144 1,477,240
Cash at bank and in hand 35,689 73,550
1,533,445 1,552,840
CREDITORS
Amounts falling due within one year 7 (289,019 ) (374,779 )
NET CURRENT ASSETS 1,244,426 1,178,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,221,366

2,170,209

PROVISIONS FOR LIABILITIES (8,855 ) (7,999 )
NET ASSETS 2,212,511 2,162,210

CAPITAL AND RESERVES
Called up share capital 306 306
Share premium 310,034 310,034
Retained earnings 1,902,171 1,851,870
SHAREHOLDERS' FUNDS 2,212,511 2,162,210

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

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

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Balance Sheet - continued
31 JULY 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 22 February 2024 and were signed on its behalf by:




Mr A Shaw - Director



Mr K Shaw - Director


SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Summit Leisure (Swinton) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Purchased goodwill is written off over a period of 20 or 40 years on a straight line basis. The maximum period write off as outlined by FRS 10 is 20 years. The company's directors are of the opinion that a policy of write- off over 40 years is appropriate to the company's purchased goodwill. The directors have performed an impairment review in relation to the value of the company's purchased goodwill and are of the opinion that it is fairly valued using the policy that the company has adopted.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Short leasehold - 5% on cost
Improvements to property - 5% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 10% on reducing balance

The company's freehold property represents a freehold investment property and is included in the financial statements in accordance with SSAP No. 19 'Accounting for Investment Properties'. In the opinion of the company's directors the original cost of the freehold investment property is not materially different from its open market valuation and the property has therefore been included in these financial statements at its original cost. No depreciation has been provided on leasehold properties or the freehold investment property as in the opinion of the directors such depreciation is not appropriate.. The directors ensure that the properties are properly maintained so that their open market value is not less than their original cost. These maintainance costs are included as part of the company's profit and loss account expenditure in the period that the costs are incurred. The directors have performed an impairment review in respect of the company's properties and are confident that no impairment has occurred.


SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Turnover
Turnover is derived from gaming machine income which is VAT exempt, and subject to Machine Games Duty.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 428,999
AMORTISATION
At 1 August 2022 364,480
Charge for year 6,975
At 31 July 2023 371,455
NET BOOK VALUE
At 31 July 2023 57,544
At 31 July 2022 64,519

5. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 August 2022 788,032 27,688 61,190
Additions - - -
At 31 July 2023 788,032 27,688 61,190
DEPRECIATION
At 1 August 2022 - - -
Charge for year - - -
At 31 July 2023 - - -
NET BOOK VALUE
At 31 July 2023 788,032 27,688 61,190
At 31 July 2022 788,032 27,688 61,190

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2022 63,787 290,354 1,231,051
Additions 450 - 450
At 31 July 2023 64,237 290,354 1,231,501
DEPRECIATION
At 1 August 2022 40,081 263,341 303,422
Charge for year 5,982 2,701 8,683
At 31 July 2023 46,063 266,042 312,105
NET BOOK VALUE
At 31 July 2023 18,174 24,312 919,396
At 31 July 2022 23,706 27,013 927,629

The company's freehold property represents a freehold investment property and is included within the financial statements in accordance with SSAP No. 19'Accounting for Investment Properties'. The improvements to property relate to improvements to long leasehold property.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 291,972
Due from related businesses 1,478,977 1,167,669
Prepayments and accrued income 17,167 17,599
1,496,144 1,477,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,608 12,591
Tax 17,235 68,348
Social security and other taxes 23,836 22,589
Other creditors 10,000 10,000
Amounts due to related companies 222,068 237,068
Accrued expenses 5,272 24,183
289,019 374,779

SUMMIT LEISURE (SWINTON) LIMITED (REGISTERED NUMBER: 02581185)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

8. RELATED PARTY DISCLOSURES

K Shaw, A Shaw, and Miss T Shaw are directors of Summit Leisure (Deansgate) Limited, Summit Leisure (Market Street) Limited, K Shaw & Sons Limited and Summit Leisure (KC) Limited.

As at 31 July 2023 the amounts owed from parties under common control were as follows:

2023
£

Summit Leisure (Market Street) Limited (222,068 )

Summit Leisure (Deansgate) Limited
1,318,50
7

K Shaw & Sons Limited 27,220
Summit Leisure (KC) Limited 133,250

9. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors.