Company No:
Contents
Note | 30.11.2023 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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449,995 | ||
Current assets | ||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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87,458 | ||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (328,771) | |
Total assets less current liabilities | 121,224 | |
Provision for liabilities | 6 | (
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Net assets |
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Capital and reserves | ||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of M A Leisure Limited (registered number:
Henry Charles Moreton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
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 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.
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.
Land and buildings |
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Plant and machinery |
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Fixtures and fittings |
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Office equipment |
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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.
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.
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.
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.
Period from 30.08.2022 to 30.11.2023 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Land and buildings | Plant and machinery | Fixtures and fittings | Office equipment | Total | |||||
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Cost | |||||||||
At 30 August 2022 |
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Additions |
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Disposals |
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At 30 November 2023 |
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Accumulated depreciation | |||||||||
At 30 August 2022 |
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Charge for the financial period |
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Disposals |
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At 30 November 2023 |
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Net book value | |||||||||
At 30 November 2023 |
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30.11.2023 | |
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Trade debtors |
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Prepayments and accrued income |
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30.11.2023 | |
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Trade creditors |
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Accruals |
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Taxation and social security |
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Other creditors |
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30.11.2023 | |
£ | |
At the beginning of financial period |
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Charged to the Statement of Income and Retained Earnings | (
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At the end of financial period | (
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30.11.2023 | |
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Allotted, called-up and fully-paid | |
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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.