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Company No: SC383630 (Scotland)

JACCA LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 MARCH 2023 TO 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

JACCA LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2023 TO 30 NOVEMBER 2023

Contents

JACCA LEISURE LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
JACCA LEISURE LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 30.11.2023 28.02.2023
£ £
Fixed assets
Tangible assets 3 3,205,074 3,886,324
3,205,074 3,886,324
Current assets
Debtors 4 20,394 32,207
Cash at bank and in hand 21,397 511
41,791 32,718
Creditors: amounts falling due within one year 5 ( 476,744) ( 528,689)
Net current liabilities (434,953) (495,971)
Total assets less current liabilities 2,770,121 3,390,353
Creditors: amounts falling due after more than one year 6 ( 1,074,572) ( 1,650,411)
Provision for liabilities ( 172,273) ( 180,209)
Net assets 1,523,276 1,559,733
Capital and reserves
Called-up share capital 7 2 2
Other reserves 160,306 399,116
Profit and loss account 1,362,968 1,160,615
Total shareholders' funds 1,523,276 1,559,733

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 Jacca Leisure Limited (registered number: SC383630) were approved and authorised for issue by the Board of Directors on 29 August 2024. They were signed on its behalf by:

P Di Ciacca
Director
JACCA LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2023 TO 30 NOVEMBER 2023
JACCA LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2023 TO 30 NOVEMBER 2023
1. Accounting policies

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

General information and basis of accounting

Jacca 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 Scotland. The address of the Company's registered office is 1 Main Street, Bothwell, Glasgow, G71 8RD, Scotland, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length has been shortened to a period of 9 months. Shortening from 28 February 2024 to 30 November 2023.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

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 valuation, net of depreciation and any provision for impairment. 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 not depreciated
Vehicles 20 % reducing balance
Fixtures and fittings 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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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 Balance Sheet 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.

2. Employees

Period from
01.03.2023 to
30.11.2023
Year ended
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 5 5

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 March 2023 3,651,204 179,172 365,852 4,196,228
Disposals ( 608,974) 0 ( 199,661) ( 808,635)
At 30 November 2023 3,042,230 179,172 166,191 3,387,593
Accumulated depreciation
At 01 March 2023 0 44,328 265,576 309,904
Charge for the financial period 0 20,226 10,687 30,913
Disposals 0 0 ( 158,298) ( 158,298)
At 30 November 2023 0 64,554 117,965 182,519
Net book value
At 30 November 2023 3,042,230 114,618 48,226 3,205,074
At 28 February 2023 3,651,204 134,844 100,276 3,886,324

4. Debtors

30.11.2023 28.02.2023
£ £
Trade debtors 4,260 12,544
Other debtors 16,134 19,663
20,394 32,207

5. Creditors: amounts falling due within one year

30.11.2023 28.02.2023
£ £
Bank loans 60,980 133,226
Trade creditors 25,891 32,018
Amounts owed to related parties 225,806 209,723
Corporation tax 60,673 53,614
Other taxation and social security 4,293 10,225
Obligations under finance leases and hire purchase contracts 22,266 25,316
Other creditors 76,835 64,567
476,744 528,689

Svenska Handelsbanken AB (Publ) have standard security over Camphill Vaults and Riva at 1 Main Street Bothwell, 10 Ferry Road Bothwell, 73/75 Main Street Bothwell, 7/9 Alexandra Street, Kirkintilloch and Nonna's Kitchen at 126 Cowgate Kirkintilloch.

Net obligations under hire purchase contracts of £22,266 (February 2023 - £25,316) are secured against the assets financed.

6. Creditors: amounts falling due after more than one year

30.11.2023 28.02.2023
£ £
Bank loans 971,640 1,534,269
Obligations under finance leases and hire purchase contracts 102,932 116,142
1,074,572 1,650,411

Svenska Handelsbanken AB (Publ) have standard security over Camphill Vaults and Riva at 1 Main Street Bothwell, 10 Ferry Road Bothwell, 73/75 Main Street Bothwell, 46 Bank Street Kilmarnock, 7/9 Alexandra Street, Kirkintilloch and Nonna's Kitchen at 126 Cowgate Kirkintilloch.

Svenska Handelsbanked AB (Publ) have a floating charge over all undertakings, property, assets present and future including uncalled capital.

Net obligations under hire pressure contracts of £102,932 (February 2023 - £116,142) are secured against the assets financed.

7. Called-up share capital

30.11.2023 28.02.2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

30.11.2023 28.02.2023
£ £
Amounts due to key management personnel 1,202 516

Other related party transactions

30.11.2023 28.02.2023
£ £
Amounts due to related parties 225,806 209,723