IRIS Accounts Production v23.3.0.418 SC576059 Board of Directors 1.4.22 31.3.23 31.3.23 2.2.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5760592022-03-31SC5760592023-03-31SC5760592022-04-012023-03-31SC5760592021-03-31SC5760592021-04-012022-03-31SC5760592022-03-31SC576059ns16:Scotland2022-04-012023-03-31SC576059ns15:PoundSterling2022-04-012023-03-31SC576059ns11:Director12022-04-012023-03-31SC576059ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC576059ns11:SmallEntities2022-04-012023-03-31SC576059ns11:Audited2022-04-012023-03-31SC576059ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC576059ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC576059ns11:AbridgedAccounts2022-04-012023-03-31SC576059ns6:CurrentFinancialInstruments2023-03-31SC576059ns6:CurrentFinancialInstruments2022-03-31SC576059ns6:Non-currentFinancialInstruments2023-03-31SC576059ns6:Non-currentFinancialInstruments2022-03-31SC576059ns6:ShareCapital2023-03-31SC576059ns6:ShareCapital2022-03-31SC576059ns6:RevaluationReserve2023-03-31SC576059ns6:RevaluationReserve2022-03-31SC576059ns6:RetainedEarningsAccumulatedLosses2023-03-31SC576059ns6:RetainedEarningsAccumulatedLosses2022-03-31SC576059ns11:RegisteredOffice2022-04-012023-03-31SC576059ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-04-012023-03-31SC576059ns6:FurnitureFittings2022-04-012023-03-31
REGISTERED NUMBER: SC576059 (Scotland)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

IBB LEISURE LIMITED

IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)

ABRIDGED BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,909,599 1,980,794

CURRENT ASSETS
Stocks 11,500 11,757
Debtors 26,175 14,566
Cash at bank and in hand 43,467 26,640
81,142 52,963
CREDITORS
Amounts falling due within one year 1,764,040 1,735,993
NET CURRENT LIABILITIES (1,682,898 ) (1,683,030 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,701

297,764

CREDITORS
Amounts falling due after more than one
year

(22,374

)

(31,667

)

PROVISIONS FOR LIABILITIES (328,354 ) (166,622 )
NET (LIABILITIES)/ASSETS (124,027 ) 99,475

CAPITAL AND RESERVES
Called up share capital 300 300
Revaluation reserve 5 710,334 710,334
Retained earnings (834,661 ) (611,159 )
(124,027 ) 99,475

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)

ABRIDGED BALANCE SHEET - continued
31 March 2023



The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





W Beattie - Director


IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ibb Leisure Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC576059

Registered office: IBB Leisure Limited
Bo'Ness Road
Grangemouth
Stirlingshire
FK3 9XF

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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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 - 2% on cost
Fixtures and fittings - 10% on cost

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.

IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2022 2,138,113
Additions 2,907
At 31 March 2023 2,141,020
DEPRECIATION
At 1 April 2022 157,319
Charge for year 74,102
At 31 March 2023 231,421
NET BOOK VALUE
At 31 March 2023 1,909,599
At 31 March 2022 1,980,794

Cost or valuation at 31 March 2023 is represented by:

Totals
£   
Valuation in 2021 526,956
Valuation in 2022 350,000
Valuation in 2023 1,264,064
2,141,020

5. RESERVES

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets.

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth G Curle (Senior Statutory Auditor)
for and on behalf of Curle & Co

IBB LEISURE LIMITED (REGISTERED NUMBER: SC576059)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

7. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,603 (2021: £6,160). At the balance sheet date, unpaid contributions of £2,896 (2021 £34) were due to the fund. They are included in other creditors.

8. PARENT COMPANY

The smallest group in which the company results are consolidated are headed by Beattie Holdings (Scotland) Limited, a company registered in Scotland. The registered address of Beattie Holdings (Scotland) Limited is Former Masterton Buildings, Bo'ness Road, Grangemouth, FK3 9XF.