Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C P Mikulla 15/12/2005 M Mikulla 07/10/2023 15/12/2005 19 August 2024 The principal activity of the company is of a golf club. 05655673 2024-03-31 05655673 bus:Director1 2024-03-31 05655673 bus:Director2 2024-03-31 05655673 2023-03-31 05655673 core:CurrentFinancialInstruments 2024-03-31 05655673 core:CurrentFinancialInstruments 2023-03-31 05655673 core:Non-currentFinancialInstruments 2024-03-31 05655673 core:Non-currentFinancialInstruments 2023-03-31 05655673 core:ShareCapital 2024-03-31 05655673 core:ShareCapital 2023-03-31 05655673 core:RetainedEarningsAccumulatedLosses 2024-03-31 05655673 core:RetainedEarningsAccumulatedLosses 2023-03-31 05655673 core:Goodwill 2023-03-31 05655673 core:OtherResidualIntangibleAssets 2023-03-31 05655673 core:Goodwill 2024-03-31 05655673 core:OtherResidualIntangibleAssets 2024-03-31 05655673 core:LandBuildings 2023-03-31 05655673 core:LeaseholdImprovements 2023-03-31 05655673 core:PlantMachinery 2023-03-31 05655673 core:Vehicles 2023-03-31 05655673 core:FurnitureFittings 2023-03-31 05655673 core:OfficeEquipment 2023-03-31 05655673 core:LandBuildings 2024-03-31 05655673 core:LeaseholdImprovements 2024-03-31 05655673 core:PlantMachinery 2024-03-31 05655673 core:Vehicles 2024-03-31 05655673 core:FurnitureFittings 2024-03-31 05655673 core:OfficeEquipment 2024-03-31 05655673 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 05655673 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 05655673 2023-04-01 2024-03-31 05655673 bus:FilletedAccounts 2023-04-01 2024-03-31 05655673 bus:SmallEntities 2023-04-01 2024-03-31 05655673 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05655673 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05655673 bus:Director1 2023-04-01 2024-03-31 05655673 bus:Director2 2023-04-01 2024-03-31 05655673 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 05655673 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 05655673 core:Goodwill 2023-04-01 2024-03-31 05655673 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 05655673 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 05655673 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 05655673 core:PlantMachinery 2023-04-01 2024-03-31 05655673 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 05655673 core:FurnitureFittings 2023-04-01 2024-03-31 05655673 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 05655673 2022-04-01 2023-03-31 05655673 core:LandBuildings 2023-04-01 2024-03-31 05655673 core:LeaseholdImprovements 2023-04-01 2024-03-31 05655673 core:Vehicles 2023-04-01 2024-03-31 05655673 core:OfficeEquipment 2023-04-01 2024-03-31 05655673 core:LandBuildings 1 2023-04-01 2024-03-31 05655673 core:LeaseholdImprovements 1 2023-04-01 2024-03-31 05655673 core:PlantMachinery 1 2023-04-01 2024-03-31 05655673 core:Vehicles 1 2023-04-01 2024-03-31 05655673 core:FurnitureFittings 1 2023-04-01 2024-03-31 05655673 core:OfficeEquipment 1 2023-04-01 2024-03-31 05655673 1 2023-04-01 2024-03-31 05655673 1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 05655673 (England and Wales)

MIKULLA LEISURE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MIKULLA LEISURE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MIKULLA LEISURE LIMITED

BALANCE SHEET

As at 31 March 2024
MIKULLA LEISURE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,562 3,074
Tangible assets 4 2,095,801 2,090,157
2,098,363 2,093,231
Current assets
Stocks 5 17,792 86,371
Debtors
- due within one year 6 2,286,634 1,884,613
- due after more than one year 6 250,000 250,000
Cash at bank and in hand 244,543 192,281
2,798,969 2,413,265
Creditors: amounts falling due within one year 7 ( 432,446) ( 395,136)
Net current assets 2,366,523 2,018,129
Total assets less current liabilities 4,464,886 4,111,360
Provision for liabilities ( 61,620) ( 57,912)
Net assets 4,403,266 4,053,448
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 4,402,266 4,052,448
Total shareholder's funds 4,403,266 4,053,448

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mikulla Leisure Limited (registered number: 05655673) were approved and authorised for issue by the Director on 19 August 2024. They were signed on its behalf by:

C P Mikulla
Director
MIKULLA LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MIKULLA LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mikulla Leisure Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mendip Spring Golf Club, Honeyhall Lane, Congresbury, BS49 5JT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover includes subscriptions, green fees, accommodation and clubhouse income, all shown net of value added tax, returns, rebates and discounts.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Other intangible assets 10 years straight line
Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful economic life of five years. The goodwill is now fully amortised.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. The useful life is considered to be 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
not depreciated
Leasehold improvements 50 years straight line
Plant and machinery 15 % reducing balance
Vehicles 20 years straight line
Fixtures and fittings 15 % reducing balance
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 35 37

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 April 2023 500,000 5,122 505,122
At 31 March 2024 500,000 5,122 505,122
Accumulated amortisation
At 01 April 2023 500,000 2,048 502,048
Charge for the financial year 0 512 512
At 31 March 2024 500,000 2,560 502,560
Net book value
At 31 March 2024 0 2,562 2,562
At 31 March 2023 0 3,074 3,074

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £ £
Cost
At 01 April 2023 1,728,501 56,067 353,282 224,220 47,603 19,650 2,429,323
Additions 1,953 0 80,240 0 0 0 82,193
Disposals 0 0 ( 14,750) 0 0 0 ( 14,750)
Transfers 56,067 ( 56,067) 0 0 0 0 0
At 31 March 2024 1,786,521 0 418,772 224,220 47,603 19,650 2,496,766
Accumulated depreciation
At 01 April 2023 70,000 6,851 151,447 64,290 28,188 18,390 339,166
Charge for the financial year 11,143 0 36,214 11,211 2,912 872 62,352
Disposals 0 0 ( 553) 0 0 0 ( 553)
Transfers 6,851 ( 6,851) 0 0 0 0 0
At 31 March 2024 87,994 0 187,108 75,501 31,100 19,262 400,965
Net book value
At 31 March 2024 1,698,527 0 231,664 148,719 16,503 388 2,095,801
At 31 March 2023 1,658,501 49,216 201,835 159,930 19,415 1,260 2,090,157

5. Stocks

2024 2023
£ £
Stocks 17,792 86,371

6. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Amounts owed by Parent undertakings 2,280,661 1,879,983
Prepayments 5,973 4,213
Other debtors 0 417
2,286,634 1,884,613
Debtors: amounts falling due after more than one year
Amounts owed by connected companies 250,000 250,000

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 46,906 74,041
Amounts owed to director 20 20
Accruals and deferred income 101,981 102,084
Taxation and social security 161,618 141,904
Other creditors 121,921 77,087
432,446 395,136

8. Ultimate controlling party

Parent Company:

C.P. Mikulla Limited
Mendip Spring Golf & Country Club
Honeyhall Lane
Congresbury
North Somerset
BS49 5JT

The ultimate controlling party is Mr C P Mikulla.