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REGISTERED NUMBER: SC207968 (Scotland)












Financial Statements

for the Year Ended 31 August 2023

for

Mega Leisure (Scotland) Limited

Mega Leisure (Scotland) Limited (Registered number: SC207968)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mega Leisure (Scotland) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr G C Graham
Mr C Graham



SECRETARY: Mrs L J Graham



REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU



REGISTERED NUMBER: SC207968 (Scotland)



ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU



BANKERS: Clydesdale Bank
19 Stuart Road
East Kilbride
Glasgow
G74 4NF

Mega Leisure (Scotland) Limited (Registered number: SC207968)

Statement of Financial Position
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 1,907,977 1,989,295
1,907,977 1,989,295

CURRENT ASSETS
Debtors 6 50,429 120,206
Cash at bank and in hand 339,073 428,556
389,502 548,762
CREDITORS
Amounts falling due within one year 7 755,951 808,668
NET CURRENT LIABILITIES (366,449 ) (259,906 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,541,528

1,729,389

CREDITORS
Amounts falling due after more than one year 8 (346,164 ) (456,649 )

PROVISIONS FOR LIABILITIES (156,534 ) (165,310 )
NET ASSETS 1,038,830 1,107,430

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,038,729 1,107,329
SHAREHOLDERS' FUNDS 1,038,830 1,107,430

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

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

Mega Leisure (Scotland) Limited (Registered number: SC207968)

Statement of Financial Position - continued
31 August 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 11 October 2023 and were signed on its behalf by:





Mr G C Graham - Director


Mega Leisure (Scotland) Limited (Registered number: SC207968)

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

1. STATUTORY INFORMATION

Mega Leisure (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the cash takings received from the provision of slot machines and other video gaming entertainment, excluding value added tax.

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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipmt - 25% on reducing balance

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.


Mega Leisure (Scotland) Limited (Registered number: SC207968)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 453,786
AMORTISATION
At 1 September 2022
and 31 August 2023 453,786
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Mega Leisure (Scotland) Limited (Registered number: SC207968)

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1 September 2022 1,603,452 30,553 2,611,225
Additions - - 96,918
At 31 August 2023 1,603,452 30,553 2,708,143
DEPRECIATION
At 1 September 2022 490,325 24,441 1,745,669
Charge for year 32,069 3,056 141,986
At 31 August 2023 522,394 27,497 1,887,655
NET BOOK VALUE
At 31 August 2023 1,081,058 3,056 820,488
At 31 August 2022 1,113,127 6,112 865,556

Motor Office
vehicles equipmt Totals
£    £    £   
COST
At 1 September 2022 21,420 384 4,267,034
Additions - - 96,918
At 31 August 2023 21,420 384 4,363,952
DEPRECIATION
At 1 September 2022 16,959 345 2,277,739
Charge for year 1,115 10 178,236
At 31 August 2023 18,074 355 2,455,975
NET BOOK VALUE
At 31 August 2023 3,346 29 1,907,977
At 31 August 2022 4,461 39 1,989,295

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 797
Other debtors 50,429 119,409
50,429 120,206

Mega Leisure (Scotland) Limited (Registered number: SC207968)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 104,214 78,223
Hire purchase contracts 16,673 19,959
Trade creditors 308,275 645,532
Taxation and social security 3,298 612
Other creditors 323,491 64,342
755,951 808,668

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 346,164 442,893
Hire purchase contracts - 13,756
346,164 456,649

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 130,001

9. SECURED DEBTS

The Clydesdale bank holds standard security and a floating charge over various assets of the company.

The Royal Bank of Scotland holds standard security over various assets of the company.

10. RELATED PARTY DISCLOSURES

There is a balance owed to one of the directors of £168,000 (£168,000 in 2022) and a balance owed to another director of £79,879 (£267,216 owed to company in 2022) as at 31st August 2023. No interest was charged on this balance and there are no formal repayment terms.