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Registration number: 08602194

Elderflower Leisure Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Elderflower Leisure Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Elderflower Leisure Limited

Company Information

Directors

Mrs M Du Bourg

Mr A S Du Bourg

Company secretary

Mrs M D Bourg

Registered office

4-5 Quay Street
Lymington
Hampshire
SO41 3AS

Accountants

Accountants for Business Development and Solutions
Chartered Certified Accountants
15 Oxford Street
Southampton
Hampshire
SO14 3DJ

 

Elderflower Leisure Limited

(Registration number: 08602194)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

-

16,913

Tangible assets

6

19,825

25,233

 

19,825

42,146

Current assets

 

Stocks

7

22,976

22,855

Debtors

8

11,347

13,253

Cash at bank and in hand

 

273,694

300,834

 

308,017

336,942

Creditors: Amounts falling due within one year

9

(107,775)

(114,071)

Net current assets

 

200,242

222,871

Total assets less current liabilities

 

220,067

265,017

Creditors: Amounts falling due after more than one year

9

(19,067)

(28,333)

Provisions for liabilities

(3,767)

(4,794)

Net assets

 

197,233

231,890

Capital and reserves

 

Called up share capital

14

1,000

1,000

Retained earnings

196,233

230,890

Shareholders' funds

 

197,233

231,890

 

Elderflower Leisure Limited

(Registration number: 08602194)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 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.

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 Profit and Loss Account.

Approved and authorised by the Board on 24 April 2024 and signed on its behalf by:
 

.........................................
Mrs M Du Bourg
Director

.........................................
Mr A S Du Bourg
Director

 
     
 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
4-5 Quay Street
Lymington
Hampshire
SO41 3AS
England

These financial statements were authorised for issue by the Board on 24 April 2024.

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.

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.

Government grants

Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to expenses are treated as other income in the income statement.

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.

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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 balance sheet 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

Leasehold Property

10% straight line

Plant & Machinery

25% reducing balance

Fixture & Fittings

25% reducing balance

Motor Vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

12.5% straight line

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.

Stocks

Stock comprises of food and beverages for the restaurant and is valued at the lower of cost and estimated selling price.

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 17).

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2023
£

2022
£

Sub lease rental income

1,860

-

Coronavirus related grants

-

4,000

1,860

4,000

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

135,305

135,305

At 31 July 2023

135,305

135,305

Amortisation

At 1 August 2022

118,392

118,392

Amortisation charge

16,913

16,913

At 31 July 2023

135,305

135,305

Carrying amount

At 31 July 2023

-

-

At 31 July 2022

16,913

16,913

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 August 2022

20,126

22,767

22,409

11,750

Additions

-

548

2,300

-

At 31 July 2023

20,126

23,315

24,709

11,750

Depreciation

At 1 August 2022

17,014

11,964

13,095

9,746

Charge for the year

2,013

2,838

2,904

501

At 31 July 2023

19,027

14,802

15,999

10,247

Carrying amount

At 31 July 2023

1,099

8,513

8,710

1,503

At 31 July 2022

3,112

10,803

9,314

2,004

Total
£

Cost or valuation

At 1 August 2022

77,052

Additions

2,848

At 31 July 2023

79,900

Depreciation

At 1 August 2022

51,819

Charge for the year

8,256

At 31 July 2023

60,075

Carrying amount

At 31 July 2023

19,825

At 31 July 2022

25,233

Included within the net book value of land and buildings above is £1,099 (2022 - £3,112) in respect of long leasehold land and buildings.
 

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Stocks

2023
£

2022
£

Food and drink

22,976

22,855

8

Debtors

Current

2023
£

2022
£

Prepayments

11,347

13,253

 

11,347

13,253

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

10,035

10,000

Trade creditors

 

22,934

25,874

Taxation and social security

 

51,133

53,517

Accruals and deferred income

 

-

1,400

Other creditors

 

23,673

23,280

 

107,775

114,071

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

19,067

28,333

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

19,067

28,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,035

10,000

Bank borrowings

HSBC Bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 13 May 2026. The carrying amount at year end is £29,102 (2022 - £38,333).

The government has guaranteed the loan, and paid the interest for the first twelve months.

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

11

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £121.50 (2022 - £Nil) per each ordinary share

121,500

-

 

 

12

Related party transactions

Transactions with directors

Directors' loans are interest free, unsecured and repayable after more than one year.

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mrs M Du Bourg

(1,672)

1,822

(312)

(162)

Mr A S Du Bourg

(1,672)

1,822

(312)

(162)

2022

At 1 August 2021
£

Advances to director
£

Repayments by director
£

At 31 July 2022
£

Mrs M Du Bourg

(30,034)

28,674

(312)

(1,672)

Mr A S Du Bourg

(30,034)

28,674

(312)

(1,672)

Mr B W Du Bourg

(21,727)

21,727

-

-

Mrs E Du Bourg

(21,727)

21,727

-

-

 

Elderflower Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

100,000

133,994

Contributions paid to money purchase schemes

32,626

388,890

132,626

522,884

13

Controlling party

During the year the controlling party was Mr A Du Bourg and Mrs M Du Bourg as equal shareholders.

14

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000