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COMPANY REGISTRATION NUMBER: 12502728
Ninja Leisure UK Leeds Ltd
Filleted Financial Statements
For the year ended
29 October 2023
Ninja Leisure UK Leeds Ltd
Balance Sheet
29 October 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
808,650
573,341
CURRENT ASSETS
Stocks
30,898
27,533
Debtors: due within one year
6
1,069,417
1,122,938
Cash at bank and in hand
470,162
152,575
------------
------------
1,570,477
1,303,046
CREDITORS: amounts falling due within one year
7
( 1,665,006)
( 705,039)
------------
------------
NET CURRENT (LIABILITIES)/ASSETS
( 94,529)
598,007
---------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
714,121
1,171,348
PROVISIONS
Deferred taxation
( 29,446)
---------
------------
NET ASSETS
714,121
1,141,902
---------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
714,021
1,141,802
---------
------------
SHAREHOLDERS FUNDS
714,121
1,141,902
---------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 2 September 2024 , and are signed on behalf of the board by:
L Forster
Director
Company registration number: 12502728
Ninja Leisure UK Leeds Ltd
Notes to the Financial Statements
Year ended 29 October 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Hayhursts, 2nd Floor Grove House, 6 Meridians Cross, Southampton, SO14 3TJ. The company's registered number is 12502728 .
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. ACCOUNTING POLICIES
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The Directors have assessed the future trading position and cashflow forecasts have been prepared for the next 12 months concluding that the company has adequate resources to continue in operational existence for the period of at least 12 months from the date of the approval of these financial statements. Therefore, they continue to believe the going concern basis of accounting remains appropriate in preparing the annual financial statements.
3.2 Significant estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.
Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.
3.3 Revenue recognition
Revenue comprises income from customer attendance at our adventure park, including booking / admission fees and the sale of merchandise and food and beverages. All income is recognised net of discounts and Value Added Tax. Income from adventure Park booking / admission fees is recognised on the day that the customer attends the adventure park. Income from the sale of merchandise and food and beverages is recognised at the point the goods are transferred to the buyer.
3.4 Current and deferred taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3.5 Operating leases: The company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
3.6 Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
3.7 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
3.8 Depreciation
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Leasehold property improvements
-
7% straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Computer equipment
-
25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss
3.9 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3.10 Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
3.11 Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.
3.12 Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 49 (2022: 64 ).
5. TANGIBLE ASSETS
Leasehold property improvs.
Plant and machinery
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 31 October 2022
604,139
13,318
8,894
626,351
Additions
317,066
8,230
325,296
---------
--------
---------
-------
---------
At 29 October 2023
604,139
13,318
325,960
8,230
951,647
---------
--------
---------
-------
---------
Depreciation
At 31 October 2022
48,760
2,330
1,919
53,009
Charge for the year
36,920
3,052
49,364
652
89,988
---------
--------
---------
-------
---------
At 29 October 2023
85,680
5,382
51,283
652
142,997
---------
--------
---------
-------
---------
Carrying amount
At 29 October 2023
518,459
7,936
274,677
7,578
808,650
---------
--------
---------
-------
---------
At 30 October 2022
555,379
10,988
6,975
573,342
---------
--------
---------
-------
---------
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
6. DEBTORS
Debtors falling due within one year are as follows:
2023
2022
£
£
Trade debtors
5,561
5,561
Amounts owed by group undertakings
66,610
922,855
Deferred tax asset
79,708
Prepayments and accrued income
206,611
147,220
Other debtors
710,927
47,302
------------
------------
1,069,417
1,122,938
------------
------------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
113,898
173,854
Amounts owed to group undertakings
1,003,992
Accruals and deferred income
347,292
193,107
Corporation tax
142
60,851
Social security and other taxes
55,326
95,818
Other creditors
144,356
181,409
------------
---------
1,665,006
705,039
------------
---------
8. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
190,000
190,000
Later than 1 year and not later than 5 years
760,000
760,000
Later than 5 years
435,417
1,575,417
------------
------------
1,385,417
2,525,417
------------
------------
9. SUMMARY AUDIT OPINION
The auditor's report dated 9 September 2024 was unqualified .
The senior statutory auditor was Richard Askey , for and on behalf of DJH Audit Limited .
10. ULTIMATE PARENT COMPANY
The immediate and ultimate parent company is Leisure Television Rights Limited . Registered office; c/o Hayhursts 2nd Floor Grove House, 6 Meridians Cross, Southampton, England, SO14 3TJ