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REGISTERED NUMBER: 07143312 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Audacity Leisure Ltd

Audacity Leisure Ltd (Registered number: 07143312)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Audacity Leisure Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Carver-Wynne
D R Ellis
C Guest





REGISTERED OFFICE: c/o Das Kino
22 Fletcher Gate
Nottingham
Nottinghamshire
NG1 2FZ





REGISTERED NUMBER: 07143312 (England and Wales)





ACCOUNTANTS: Beaumont Chapman Limited
Foxhall Lodge
Foxhall Road
Nottingham
Nottinghamshire
NG7 6LH

Audacity Leisure Ltd (Registered number: 07143312)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,763 87,575

CURRENT ASSETS
Stocks 30,770 37,461
Debtors 5 25,154 24,729
Cash at bank 324,030 296,716
379,954 358,906
CREDITORS
Amounts falling due within one year 6 274,613 230,034
NET CURRENT ASSETS 105,341 128,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,104

216,447

CREDITORS
Amounts falling due after more than
one year

7

(30,353

)

(35,802

)

PROVISIONS FOR LIABILITIES (17,441 ) (21,894 )
NET ASSETS 127,310 158,751

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 127,280 158,721
127,310 158,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Audacity Leisure Ltd (Registered number: 07143312)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





D R Ellis - Director


Audacity Leisure Ltd (Registered number: 07143312)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Audacity Leisure Ltd 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.

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.

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

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 and 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Audacity Leisure Ltd (Registered number: 07143312)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 129,591
Additions 29,460
At 31 March 2024 159,051
DEPRECIATION
At 1 April 2023 42,016
Charge for year 47,272
At 31 March 2024 89,288
NET BOOK VALUE
At 31 March 2024 69,763
At 31 March 2023 87,575

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 25,154 24,729

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,446 6,446
Trade creditors 47,380 71,109
Amounts owed to group undertakings 2,790 2,962
Taxation and social security 66,577 72,714
Other creditors 151,420 76,803
274,613 230,034

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 30,353 35,802

Audacity Leisure Ltd (Registered number: 07143312)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,569 10,018

8. RELATED PARTY DISCLOSURES

During the year the company purchased services from Fletchergate Industries Limited, a company to whom the directors are related, to a value of £133,428 (2023: £136,244) and sold services of £1,910 (2023: £5,078). The balance outstanding at 31 March 2024 is £2,366 (2023: £12,598).

During the year the company rented a premise from a company of whom the directors are shareholders for £80,000 (2023: £80,000) which is considered open market value . The balance outstanding at 31 March 2024 from is £20,000 due to rents paid in advance (2023: £nil).

During the year the company sold services to Our Secret Garden Limited a company to whom the directors are related to a value of £3,015 (2023: £2,827). The balance outstanding at 31 March 2024 is £153 (2023: £75).

During the year the company sold services to Weekday Cross Limited a company to whom the directors are related to a value of £2,937 (2023: £3,197). The balance outstanding at 31 March 2024 is £153 (2023: £75).

During the year the company sold services to Pandora's Holdings Limited a company to whom the directors are related to a value of £5,712 (2023: £4,500). The balance outstanding at 31 March 2024 is £1,165 (2023: £nil).

During the year the company sold services to Legends Beeston Limited a company to whom the directors are related to a value of £2,593 (2023: £1,257). The balance outstanding at 31 March 2023 is £153 (2023: £75).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is DDC Investments Ltd by virtue of its shareholding.