Slot Leisure Limited SC095597 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is operation of leisure facilities. Digita Accounts Production Advanced 6.30.9574.0 true SC095597 2022-07-01 2023-06-30 SC095597 2023-06-30 SC095597 2 2023-06-30 SC095597 core:OtherReservesSubtotal 2023-06-30 SC095597 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC095597 core:ShareCapital 2023-06-30 SC095597 core:CurrentFinancialInstruments 2023-06-30 SC095597 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC095597 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 SC095597 core:FurnitureFittings 2023-06-30 SC095597 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 SC095597 core:MotorVehicles 2023-06-30 SC095597 core:OfficeEquipment 2023-06-30 SC095597 core:PlantMachinery 2023-06-30 SC095597 bus:SmallEntities 2022-07-01 2023-06-30 SC095597 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC095597 bus:FullAccounts 2022-07-01 2023-06-30 SC095597 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC095597 bus:RegisteredOffice 2022-07-01 2023-06-30 SC095597 bus:Director1 2022-07-01 2023-06-30 SC095597 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC095597 core:FurnitureFittings 2022-07-01 2023-06-30 SC095597 core:LandBuildings 2022-07-01 2023-06-30 SC095597 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC095597 core:MotorCars 2022-07-01 2023-06-30 SC095597 core:MotorVehicles 2022-07-01 2023-06-30 SC095597 core:OfficeEquipment 2022-07-01 2023-06-30 SC095597 core:PlantMachinery 2022-07-01 2023-06-30 SC095597 countries:Scotland 2022-07-01 2023-06-30 SC095597 2022-06-30 SC095597 core:FurnitureFittings 2022-06-30 SC095597 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 SC095597 core:MotorVehicles 2022-06-30 SC095597 core:OfficeEquipment 2022-06-30 SC095597 core:PlantMachinery 2022-06-30 SC095597 2021-07-01 2022-06-30 SC095597 2022-06-30 SC095597 2 2022-06-30 SC095597 core:OtherReservesSubtotal 2022-06-30 SC095597 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC095597 core:ShareCapital 2022-06-30 SC095597 core:CurrentFinancialInstruments 2022-06-30 SC095597 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 SC095597 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 SC095597 core:FurnitureFittings 2022-06-30 SC095597 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 SC095597 core:MotorVehicles 2022-06-30 SC095597 core:OfficeEquipment 2022-06-30 SC095597 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure

Registration number: SC095597

Slot Leisure Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Slot Leisure Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Slot Leisure Limited

(Registration number: SC095597)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

53,627

20,262

Investment property

5

720,000

720,000

 

773,627

740,262

Current assets

 

Debtors

6

17,431

6,514

Cash at bank and in hand

 

84,334

115,955

 

101,765

122,469

Creditors: Amounts falling due within one year

7

(103,849)

(121,289)

Net current (liabilities)/assets

 

(2,084)

1,180

Total assets less current liabilities

 

771,543

741,442

Creditors: Amounts falling due after more than one year

7

(41,033)

(28,471)

Provisions for liabilities

(76,416)

(69,737)

Net assets

 

654,094

643,234

Capital and reserves

 

Called up share capital

1,000

1,000

Other reserves

282,337

282,337

Retained earnings

370,757

359,897

Shareholders' funds

 

654,094

643,234

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

 

Slot Leisure Limited

(Registration number: SC095597)
Statement of Financial Position as at 30 June 2023

Approved and authorised by the Board on 29 March 2024 and signed on its behalf by:
 

.........................................
Mr H Horne
Director

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
22-26 Seagate
Dundee
DD1 2EQ
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tenants improvements

10% straight line

Amusement machines

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 8 (2022 - 8).

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Tenants improvements
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 July 2022

34,512

36,156

45,934

4,033

Additions

-

-

-

-

Disposals

-

-

-

-

At 30 June 2023

34,512

36,156

45,934

4,033

Depreciation

At 1 July 2022

34,512

36,156

45,934

4,033

Charge for the year

-

-

-

-

Eliminated on disposal

-

-

-

-

At 30 June 2023

34,512

36,156

45,934

4,033

Carrying amount

At 30 June 2023

-

-

-

-

At 30 June 2022

-

-

-

-

Amusement machines
 £

Total
£

Cost or valuation

At 1 July 2022

171,819

292,454

Additions

54,496

54,496

Disposals

(40,412)

(40,412)

At 30 June 2023

185,903

306,538

Depreciation

At 1 July 2022

151,557

272,192

Charge for the year

20,949

20,949

Eliminated on disposal

(40,230)

(40,230)

At 30 June 2023

132,276

252,911

Carrying amount

At 30 June 2023

53,627

53,627

At 30 June 2022

20,262

20,262

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Investment properties

2023
£

At 1 July

720,000

Additions

-

Disposals

-

At 30 June

720,000

The last valuation of the properties was at 30 June 2021 by the directors and they are of the opinion that they are stated at fair value in these accounts.

6

Debtors

Note

2023
£

2022
£

Other debtors

 

5,084

5,834

Prepayments

 

2,877

680

Corporation tax asset

9,470

-

 

17,431

6,514

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

35,217

16,527

Trade creditors

 

3,469

3,240

Taxation and social security

 

7,885

24,404

Accruals and deferred income

 

4,284

4,032

Other creditors

 

52,994

73,086

 

103,849

121,289

 

Slot Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

41,033

28,471

8

Operating lease commitments

Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023

2022

£

£

-

38,588

Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2023

2022

£

£

58,000

82,000