Leisure Promotions (Newbury) Limited 04865165 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of retail sales of metal detectors, accessories and woollen products. Digita Accounts Production Advanced 6.30.9574.0 true 04865165 2022-09-01 2023-08-31 04865165 2023-08-31 04865165 core:CurrentFinancialInstruments 2023-08-31 04865165 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04865165 core:FurnitureFittings 2023-08-31 04865165 core:MotorVehicles 2023-08-31 04865165 core:OfficeEquipment 2023-08-31 04865165 bus:SmallEntities 2022-09-01 2023-08-31 04865165 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04865165 bus:FilletedAccounts 2022-09-01 2023-08-31 04865165 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04865165 bus:RegisteredOffice 2022-09-01 2023-08-31 04865165 bus:Director4 2022-09-01 2023-08-31 04865165 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04865165 core:FurnitureFittings 2022-09-01 2023-08-31 04865165 core:MotorVehicles 2022-09-01 2023-08-31 04865165 core:OfficeEquipment 2022-09-01 2023-08-31 04865165 core:OtherRelatedParties 2022-09-01 2023-08-31 04865165 countries:EnglandWales 2022-09-01 2023-08-31 04865165 2022-08-31 04865165 core:FurnitureFittings 2022-08-31 04865165 core:MotorVehicles 2022-08-31 04865165 core:OfficeEquipment 2022-08-31 04865165 2021-09-01 2022-08-31 04865165 2022-08-31 04865165 core:CurrentFinancialInstruments 2022-08-31 04865165 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04865165 core:FurnitureFittings 2022-08-31 04865165 core:MotorVehicles 2022-08-31 04865165 core:OfficeEquipment 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 04865165

Leisure Promotions (Newbury) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Leisure Promotions (Newbury) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Leisure Promotions (Newbury) Limited

(Registration number: 04865165)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

39,878

54,421

Current assets

 

Stocks

5

292,643

250,567

Debtors

6

157,186

76,903

Cash at bank and in hand

 

261,376

186,625

 

711,205

514,095

Creditors: Amounts falling due within one year

7

(307,257)

(212,997)

Net current assets

 

403,948

301,098

Net assets

 

443,826

355,519

Capital and reserves

 

Called up share capital

2

2

Retained earnings

443,824

355,517

Shareholders' funds

 

443,826

355,519

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 August 2024
 

.........................................
Mr P Turrell
Director

 

Leisure Promotions (Newbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of metal detectors, accessories and woollen products. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Fixtures and fittings

25% straight line

Motor vehicle

25% reducing balance

 

Leisure Promotions (Newbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Leisure Promotions (Newbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

30,873

5,914

30,000

66,787

At 31 August 2023

30,873

5,914

30,000

66,787

Depreciation

At 1 September 2022

4,623

3,596

4,147

12,366

Charge for the year

7,000

689

6,854

14,543

At 31 August 2023

11,623

4,285

11,001

26,909

Carrying amount

At 31 August 2023

19,250

1,629

18,999

39,878

At 31 August 2022

26,250

2,318

25,853

54,421

 

Leisure Promotions (Newbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Stocks

2023
£

2022
£

Other inventories

292,643

250,567

6

Debtors

2023
£

2022
£

Other debtors

157,186

76,903

157,186

76,903

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

42,605

41,598

Taxation and social security

204,395

150,762

Other creditors

60,257

20,637

307,257

212,997

8

Related party transactions

Summary of transactions with other related parties

During the year the director, P Turrell, introduced funds totalling £52,000 (2022: £130,000) by capital introduced and dividends, against which he withdrew £123,961 (2022: £61,444). At the balance sheet date £138,424 (2022: £64,478) remains due to the company and is included within other debtors. Interest has been charged during the year.