UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
LEAGUESAVE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
LEAGUESAVE LIMITED |
LEAGUESAVE LIMITED (REGISTERED NUMBER: 02658654) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LEAGUESAVE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Nethergers |
Church Lane |
Robertsbridge |
East Sussex |
TN32 5PH |
LEAGUESAVE LIMITED (REGISTERED NUMBER: 02658654) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
LEAGUESAVE LIMITED (REGISTERED NUMBER: 02658654) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Leaguesave Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 balance sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Investments |
The company's wholly owned subsidiary is registered in Panama under the name of Panera Services Limited Corp but due to regulations of Companies House it is registered in UK as Panera Services. The investment is shown at cost. |
Foreign borrowings |
The company financed a loan to its subsidiary by entering into a loan agreement denominated in pesetas which has subsequently been converted to euros. The exchange rates used are €1 = Pts 166.386 and at 31 December 2023 £1 = €1.15067 (2022 - €1.12766. |
Going concern |
The financial statements have been prepared on a going concern basis. This assumes that the company will continue in operation for the foreseeable future and to this end the beneficial owners have confirmed that they will provide continued financial support. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
LEAGUESAVE LIMITED (REGISTERED NUMBER: 02658654) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Subsidiary undertakings |
2021 | 2020 |
£ | £ |
Panera Services Limited Corp (Panama) | 2,000,000 | 2,000,000 |
The company has been registered, under the name of Panera Services, as an oversea company in England & Wales, due to it having a UK establishment. It is a 100% held subsidiary. The Spanish branch of Panera Services Limited Corp has the following subsidiary undertakings: |
Percentage |
held |
Panera Estepona SL (Spain) | 100% |
Agua Marina Playa SL (Spain) | 100% |
Las Fuentes Playa SL (Spain) | 100% |
The financial position of the Panera branch and its subsidiary companies at 31 December 2023 (denominated in the currency shown) was as follows: |
Aggregate capital and reserves |
Profit for the year |
€ | € |
Panera Services Suc. Espana branch | (154,197 | ) | (5,391 | ) |
Panera Estepona SL | 1,281,614 | (110,808 | ) |
Agua Marina Playa SL | (159,615 | ) | (139 | ) |
Las Fuentes Playa SL | (162,818 | ) | (2,051, | ) |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | CONTINGENT LIABILITIES |
There were no contingent liabilities at the year end. |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
M J R Morris supplies administrative and accounting services through Radmor Accountancy Services Limited, of which he is a director. |
9. | RELATED PARTY DISCLOSURES |
Inter group balances and shareholder's loans are reported in other notes to these financial statements. |
LEAGUESAVE LIMITED (REGISTERED NUMBER: 02658654) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | POST BALANCE SHEET EVENTS |
There are no significant post balance sheet events to report. |