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REGISTERED NUMBER: 02884760 (England and Wales)




















Financial Statements

for the Year Ended 31 December 2023

for

Summertime Leisure Limited

Summertime Leisure Limited (Registered number: 02884760)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Summertime Leisure Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: J L Miller
Mrs V I Miller





SECRETARY: J L Miller





REGISTERED OFFICE: Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 02884760 (England and Wales)





AUDITORS: Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Summertime Leisure Limited (Registered number: 02884760)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 62,994

CURRENT ASSETS
Stocks 5 5,184 4,542
Debtors 6 107,874 55,416
Cash at bank and in hand 24,284 99,462
137,342 159,420
CREDITORS
Amounts falling due within one year 7 147,771 218,918
NET CURRENT LIABILITIES (10,429 ) (59,498 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,429

)

3,496

PROVISIONS FOR LIABILITIES 8 7,056 -
NET (LIABILITIES)/ASSETS (17,485 ) 3,496

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (17,585 ) 3,396
SHAREHOLDERS' FUNDS (17,485 ) 3,496

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





J L Miller - Director


Summertime Leisure Limited (Registered number: 02884760)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Summertime Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal place of business is Billing Aquadrome, Crow Lane, Great Billing, Northampton NN3 9DA.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company ceased trading from their principal place of business, Billing Aquadrome, Crow Lane, Northampton NN3 9DA, on the 2nd June, 2024. As of that date, the company has sold, or is in the process of disposing of, all of its fixed assets. The company is regarded as a going concern, with the continued support of the group, but may become dormant following the cessation of its principal activity.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the point of use of leisure facilities by customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks consist of consumable items such as tickets, and goods held for redemption using prize tickets.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate 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 undiscounted cost less impairment losses for bad and doubtful debts.

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 undiscounted cost.


Summertime Leisure Limited (Registered number: 02884760)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 263,194 55,056 14,305 332,555
Additions 20,345 - - 20,345
Disposals (6,820 ) - - (6,820 )
Reclassification/transfer (51,702 ) (11,590 ) (241 ) (63,533 )
At 31 December 2023 225,017 43,466 14,064 282,547
DEPRECIATION
At 1 January 2023 213,564 42,013 13,984 269,561
Charge for year 15,407 1,453 80 16,940
Eliminated on disposal (3,954 ) - - (3,954 )
At 31 December 2023 225,017 43,466 14,064 282,547
NET BOOK VALUE
At 31 December 2023 - - - -
At 31 December 2022 49,630 13,043 321 62,994

Summertime Leisure Limited (Registered number: 02884760)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

The company ceased trading from their principal place of business, Billing Aquadrome, Crow Lane, Northampton NN3 9DA, on the 2nd June, 2024. As of that date, the company has sold, or is in the process of disposing of, all its fixed assets. Fixed assets have therefore been reclassified as current assets held for resale.

5. STOCKS
2023 2022
£    £   
Stocks 5,184 4,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 40,537 34,737
Assets held for resale 63,533 -
VAT 1,519 5,189
Prepayments and accrued income 2,285 15,490
107,874 55,416

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,411 23,920
Amounts owed to group undertakings 138,166 153,113
Social security and other taxes 1,388 919
Other creditors 126 380
Accruals and deferred income 4,680 40,586
147,771 218,918

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 7,056 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 7,056
Balance at 31 December 2023 7,056

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Summertime Leisure Limited (Registered number: 02884760)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

10. RESERVES
Retained
earnings
£   

At 1 January 2023 3,396
Deficit for the year (20,981 )
At 31 December 2023 (17,585 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified and signed by Mr Robert Dearing BEng FCA (Senior Statutory Auditor), for and on behalf of Clifford Roberts Chartered Accountants.

12. ULTIMATE CONTROLLING PARTY

The directors consider that the ultimate parent company is Overstone Holdings Limited, which owns 100% of the issued ordinary share capital. Overstone Holdings Limited is a company registered in England that shares the same registered office as Summertime Leisure Limited.

Overstone Holdings Limited's consolidated financial statements are available at Companies House.