Company registration number 00663939 (England and Wales)
TIMBER HILL LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
TIMBER HILL LEISURE LIMITED
COMPANY INFORMATION
Directors
J W Bauer
Mrs A L Bauer
M W Bauer
Secretary
Mrs A L Bauer
Company number
00663939
Registered office
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
West Midlands
England
B62 8DY
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
TIMBER HILL LEISURE LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8
TIMBER HILL LEISURE LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF TIMBER HILL LEISURE LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Timber Hill Leisure Limited for the year ended 31 October 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Timber Hill Leisure Limited, as a body, in accordance with the terms of our engagement letter dated 25 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Timber Hill Leisure Limited and state those matters that we have agreed to state to the board of directors of Timber Hill Leisure Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Timber Hill Leisure Limited and its board of directors as a body for our work or for this report.

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

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

Jerroms GCN Limited
31 July 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
TIMBER HILL LEISURE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,820,341
1,781,619
Current assets
Stocks
4
1,420
780
Debtors
5
152,234
95,012
Cash at bank and in hand
94,318
63,441
247,972
159,233
Creditors: amounts falling due within one year
6
(263,485)
(210,098)
Net current liabilities
(15,513)
(50,865)
Total assets less current liabilities
1,804,828
1,730,754
Creditors: amounts falling due after more than one year
7
(16,283)
(26,220)
Provisions for liabilities
8
(269,022)
(258,954)
Net assets
1,519,523
1,445,580
Capital and reserves
Called up share capital
9
3,000
3,000
Revaluation reserve
711,103
675,010
Profit and loss reserves
805,420
767,570
Total equity
1,519,523
1,445,580
TIMBER HILL LEISURE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 3 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
J W Bauer
Mrs A L Bauer
Director
Director
Company Registration No. 00663939
TIMBER HILL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
1
Accounting policies
Company information

Timber Hill Leisure Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, West Midlands, England, B62 8DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in pound sterling which is the functional currency of the company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
0% on cost
Chalets and land
0% on cost
Chalet improvements
10% on cost
Furnishings
20% Straight line
Plant, Fixtures and fittings
15% & 33% Straight line and reducing balance
Computer Equipment
20% & 33% Straight line
Motor vehicles
25% Reducing balance less residual value

Chalets and freehold property are reviewed annually by the Directors and recognised in the financial statements at the revalued amount.

 

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TIMBER HILL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
TIMBER HILL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
3
Tangible fixed assets
Freehold property
Chalets and land
Chalet improvements
Furnishings
Plant, Fixtures and fittings
Computer Equipment
Motor vehicles
Total
£
£
£
£
£
£
£
£
Cost or valuation
At 1 November 2022
411,876
1,234,022
78,801
153,351
166,280
8,874
140,359
2,193,563
Additions
-
0
-
0
-
0
-
0
14,393
-
0
2,600
16,993
Revaluation
48,124
-
0
-
0
-
0
-
0
-
0
-
0
48,124
At 31 October 2023
460,000
1,234,022
78,801
153,351
180,673
8,874
142,959
2,258,680
Depreciation and impairment
At 1 November 2022
-
0
-
0
78,801
150,361
121,572
7,265
53,945
411,944
Depreciation charged in the year
-
0
-
0
-
0
1,796
7,066
1,126
16,407
26,395
At 31 October 2023
-
0
-
0
78,801
152,157
128,638
8,391
70,352
438,339
Carrying amount
At 31 October 2023
460,000
1,234,022
-
0
1,194
52,035
483
72,607
1,820,341
At 31 October 2022
411,876
1,234,022
-
0
2,990
44,708
1,609
86,414
1,781,619
Cost or valuation at 31 October 2023 is represented by:
Freehold
Chalets and
Chalet
Plant, fixtures
Computer
Motor
property
land
improvements
Furnishings
& fittings
Equipment
Vehicles
Totals
£
£
£
£
£
£
£
£
Valuation in 2001
194,598
194,598
Valuation in 2004
151,643
151,643
Valuation in 2005
318,245
318,245
Valuation in 2006
118,652
118,652
Valuation in 2012
(70,000)
(70,000)
Valuation in 2013
10,000
10,000
Valuation in 2015
(38,124)
(38,124)
Valuation in 2016
(10,000)
(10,000)
Valuation in 2017
95,000
95,000
Valuation in 2022
130,000
130,000
Valuation in 2023
48,124
48,124
Cost
331,348
414,536
78,801
153,351
180,673
8,874
142,959
1,310,542
460,000
1,234,022
78,801
153,351
180,673
8,874
142,959
2,258,680
TIMBER HILL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 7 -
4
Inventories
2023
2022
£
£
Finished goods
1,420
780
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
140,885
84,455
Other debtors
3,000
3,000
Prepayments and accrued income
8,349
7,557
152,234
95,012
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,325
10,648
Trade creditors
71,837
71,712
Corporation tax
11,459
2,351
Other taxation and social security
20,294
17,162
Other creditors
78,408
74,574
Accruals and deferred income
71,162
33,651
263,485
210,098
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,283
26,220
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
269,022
258,954

A deferred tax provision has arisen as a result of accelerated capital allowances and the revaluation of chalets and property.

TIMBER HILL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 8 -
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,000
3,000
3,000
3,000
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