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REGISTERED NUMBER: 04032295 (England and Wales)















SLEAFORD LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

SLEAFORD LEISURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs W A Broughton





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Temple House Farm
Temple Bruer
Wellingore
Lincoln
Lincolnshire
LN5 0DG





REGISTERED NUMBER: 04032295 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,563,485 7,575,086

CURRENT ASSETS
Stocks and work in progress 222,195 139,013
Debtors 5 82,035 42,872
Cash at bank and in hand 229,675 152,701
533,905 334,586
CREDITORS
Amounts falling due within one year 6 738,873 620,884
NET CURRENT LIABILITIES (204,968 ) (286,298 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,358,517 7,288,788

CREDITORS
Amounts falling due after more than one year 7 (752,679 ) (823,857 )

PROVISIONS FOR LIABILITIES (1,092,955 ) (1,095,856 )
NET ASSETS 5,512,883 5,369,075

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 4,484,953 4,484,953
Retained earnings 1,027,830 884,022
SHAREHOLDERS' FUNDS 5,512,883 5,369,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 24 September 2024 and were signed by:





Mrs W A Broughton - Director


SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sleaford 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 presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of farm crops, livestock and area aid income, excluding value added tax.

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 etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Valuation
The valuation is prepared by the director in accordance with accounting standards and is valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred to bring the stock to its state at the balance sheet date.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Government grants
Government grants are recognised in the income statement when all performance criteria attached to the grant have been fulfilled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 7,512,900 280,106 7,793,006
Additions - 1,084 1,084
Disposals - (480 ) (480 )
At 31 December 2023 7,512,900 280,710 7,793,610
DEPRECIATION
At 1 January 2023 - 217,920 217,920
Charge for year - 12,665 12,665
Eliminated on disposal - (460 ) (460 )
At 31 December 2023 - 230,125 230,125
NET BOOK VALUE
At 31 December 2023 7,512,900 50,585 7,563,485
At 31 December 2022 7,512,900 62,186 7,575,086

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 5,344,649 - 5,344,649
Cost 2,168,251 280,710 2,448,961
7,512,900 280,710 7,793,610

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,168,251 2,168,251

Value of land in freehold land and buildings 7,512,900 7,512,900

Land and buildings were valued on an open market basis on 31 December 2018 by the Directors .


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 79,541 40,942
Other debtors 2,494 1,930
82,035 42,872

SLEAFORD LEISURE LIMITED (REGISTERED NUMBER: 04032295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 420,598 403,493
Trade creditors 24,930 10,964
Taxation and social security 55,827 53,935
Other creditors 237,518 152,492
738,873 620,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 752,679 823,857

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 290,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 344,560 330,974
Bank loans 828,717 896,376
1,173,277 1,227,350

The bank facilities are secured by a debenture incorporating the assets and undertakings of the company, a first legal charge over 740 acres at Temple Bruer Farm. Mrs W A Broughton has also made personal guarantees, supported by charges over Temple Bruer farmhouse, and property in Ewerby.

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

At the year end date the company owed the director £67,754 (2022: £67,339). This amount is unsecured, interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SLEAFORD LEISURE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sleaford Leisure Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Sleaford Leisure Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sleaford Leisure Limited and state those matters that we have agreed to state to the director of Sleaford Leisure Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Sleaford Leisure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sleaford Leisure Limited. You consider that Sleaford Leisure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sleaford Leisure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................