Company registration number 07757955 (England and Wales)
HUGESENSE LEISURE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HUGESENSE LEISURE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HUGESENSE LEISURE LTD (REGISTERED NUMBER: 07757955)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,731
15,474
Current assets
Debtors
4
11,460
963
Cash at bank and in hand
4,204
53,452
15,664
54,415
Creditors: amounts falling due within one year
5
(7,984)
(29,597)
Net current assets
7,680
24,818
Net assets
18,411
40,292
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
18,410
40,291
Total equity
18,411
40,292
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 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 20 August 2024 and are signed on its behalf by:
Mr M Edge
Director
HUGESENSE LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Hugesense Leisure Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR.
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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably
The costs incurred and the costs to complete the contract can be measured reliably
1.4
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.
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:
Fixtures and fittings
25% Straight line
Computers
25% Straight line
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.
HUGESENSE LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
HUGESENSE LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
692
20,677
21,369
Additions
286
374
660
At 31 March 2024
978
21,051
22,029
Depreciation and impairment
At 1 April 2023
259
5,636
5,895
Depreciation charged in the year
179
5,224
5,403
At 31 March 2024
438
10,860
11,298
Carrying amount
At 31 March 2024
540
10,191
10,731
At 31 March 2023
433
15,041
15,474
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,609
353
Other debtors
2,851
610
11,460
963
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
307
Taxation and social security
5,632
10,253
Other creditors
2,045
19,344
7,984
29,597
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
HUGESENSE LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1
1
1
1