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Company No: 14323405 (England and Wales)

M A LEISURE LIMITED

Unaudited Financial Statements
For the financial period from 30 August 2022 to 30 November 2023
Pages for filing with the registrar

M A LEISURE LIMITED

Unaudited Financial Statements

For the financial period from 30 August 2022 to 30 November 2023

Contents

M A LEISURE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
M A LEISURE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 30.11.2023
£
Fixed assets
Tangible assets 3 449,995
449,995
Current assets
Stocks 18,536
Debtors 4 19,554
Cash at bank and in hand 49,368
87,458
Creditors: amounts falling due within one year 5 ( 416,229)
Net current liabilities (328,771)
Total assets less current liabilities 121,224
Provision for liabilities 6 ( 47,552)
Net assets 73,672
Capital and reserves
Called-up share capital 7 100
Profit and loss account 73,572
Total shareholder's funds 73,672

For the financial period ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of M A Leisure Limited (registered number: 14323405) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

Henry Charles Moreton
Director
M A LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 30 August 2022 to 30 November 2023
M A LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 30 August 2022 to 30 November 2023
1. Accounting policies

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

General information and basis of accounting

M A 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 Studio 5, Rowditch Business Centre, 282 Uttoxeter New Road, Derby, DE22 3LN, England, 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 £.

Reporting period length

The financial statements have been prepared for a period longer than 12 months to 30 November 2023 to bring the period in line with group companies.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

2. Employees

Period from
30.08.2022 to
30.11.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 8

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 30 August 2022 0 0 0 0 0
Additions 263,307 234,383 5,351 2,777 505,818
Disposals 0 ( 21,995) 0 0 ( 21,995)
At 30 November 2023 263,307 212,388 5,351 2,777 483,823
Accumulated depreciation
At 30 August 2022 0 0 0 0 0
Charge for the financial period 3,950 31,959 803 416 37,128
Disposals 0 ( 3,300) 0 0 ( 3,300)
At 30 November 2023 3,950 28,659 803 416 33,828
Net book value
At 30 November 2023 259,357 183,729 4,548 2,361 449,995

4. Debtors

30.11.2023
£
Trade debtors 4,194
Prepayments and accrued income 15,360
19,554

5. Creditors: amounts falling due within one year

30.11.2023
£
Trade creditors 23,491
Accruals 6,109
Taxation and social security 43,288
Other creditors 343,341
416,229

6. Deferred tax

30.11.2023
£
At the beginning of financial period 0
Charged to the Statement of Income and Retained Earnings ( 47,552)
At the end of financial period ( 47,552)

7. Called-up share capital

30.11.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

The group has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.