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REGISTERED NUMBER: 05340187 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Nice Leisure Limited

Nice Leisure Limited (Registered number: 05340187)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountant's Report 10

Nice Leisure Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Petrouis





SECRETARY: Mrs K Petrouis





REGISTERED OFFICE: Muckley Corner House
Walsall Road
Lichfield
Staffordshire
WS14 0BG





REGISTERED NUMBER: 05340187 (England and Wales)





ACCOUNTANT: Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN

Nice Leisure Limited (Registered number: 05340187)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,576,488 14,605,938
Investments 6 490,000 490,018
15,066,488 15,095,956

CURRENT ASSETS
Debtors 7 956,981 690,075
Cash at bank 35,939 22,329
992,920 712,404
CREDITORS
Amounts falling due within one year 8 5,817,075 5,575,879
NET CURRENT LIABILITIES (4,824,155 ) (4,863,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,242,333

10,232,481

CREDITORS
Amounts falling due after more than one
year

9

(3,000,000

)

(3,000,000

)

PROVISIONS FOR LIABILITIES 11 (378,357 ) (316,453 )
NET ASSETS 6,863,976 6,916,028

Nice Leisure Limited (Registered number: 05340187)

Statement of Financial Position - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 30,000 30,000
Fair value reserve 2,209,520 2,209,520
Retained earnings 4,624,456 4,676,508
SHAREHOLDERS' FUNDS 6,863,976 6,916,028

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 29 February 2024 and were signed by:





M Petrouis - Director


Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Nice Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

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.

Land and buildings - 2% straight line
Leasehold properties - Straight line over the life of the lease
Plant and machinery - 20% reducing balance
Fixtures, fittings
and equipment - 15% straight line
Motor vehicles - 25% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 126,339
AMORTISATION
At 1 January 2023
and 31 December 2023 126,339
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 13,011,393 790,282 765,308
Additions 90,448 - 22,601
At 31 December 2023 13,101,841 790,282 787,909
DEPRECIATION
At 1 January 2023 354,377 23,043 397,931
Charge for year 130,114 7,903 22,229
At 31 December 2023 484,491 30,946 420,160
NET BOOK VALUE
At 31 December 2023 12,617,350 759,336 367,749
At 31 December 2022 12,657,016 767,239 367,377

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,385,226 116,357 16,068,566
Additions 64,423 - 177,472
At 31 December 2023 1,449,649 116,357 16,246,038
DEPRECIATION
At 1 January 2023 575,658 111,619 1,462,628
Charge for year 45,491 1,185 206,922
At 31 December 2023 621,149 112,804 1,669,550
NET BOOK VALUE
At 31 December 2023 828,500 3,553 14,576,488
At 31 December 2022 809,568 4,738 14,605,938

Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2020 1,680,242 - -
Cost 11,421,599 790,282 787,909
13,101,841 790,282 787,909

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2020 - - 1,680,242
Cost 1,449,649 116,357 14,565,796
1,449,649 116,357 16,246,038

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023 490,018 - 490,018
Additions - 490,000 490,000
Disposals (490,018 ) - (490,018 )
At 31 December 2023 - 490,000 490,000
NET BOOK VALUE
At 31 December 2023 - 490,000 490,000
At 31 December 2022 490,018 - 490,018

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 15,624 9,000
Other debtors 941,357 681,075
956,981 690,075

Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 139,243 95,091
Amounts owed to group undertakings 161,001 843,872
Tax 612,645 647,645
VAT 41,629 40,774
Other creditors 4,830,814 2,885,813
Directors' loan accounts 157 1,038,835
Accrued expenses 31,586 23,849
5,817,075 5,575,879

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 3,000,000 3,000,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 3,000,000 3,000,000

The bank loans with Handelsbanken are secured by a fixed charges over the following asset:

Hawkstone Hall, Marchamley, Shrewsbury on 18 September 2018

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 378,357 316,453

Deferred
tax
£   
Balance at 1 January 2023 316,453
Provided during year 61,904
Balance at 31 December 2023 378,357

Nice Leisure Limited (Registered number: 05340187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
30,000 Ordinary £1 30,000 30,000

13. ULTIMATE CONTROLLING PARTY

The ultimate and immediate parent company is Nice Leisure Holdings Limited.

Chartered Accountant's Report to the Director
on the Unaudited Financial Statements of
Nice Leisure Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Nice Leisure Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nice Leisure Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Nice Leisure Limited and state those matters that I have agreed to state to the director of Nice Leisure Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Nice Leisure Limited and its director for my work or for this report.

It is your duty to ensure that Nice 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 loss of Nice Leisure Limited. You consider that Nice Leisure Limited is exempt from the statutory audit requirement for the year.

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






Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN


29 February 2024