Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 1949537 Mr H E Silcock Mr M Silcock Mrs P Silcock iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 1949537 2023-02-28 1949537 2024-02-28 1949537 2023-03-01 2024-02-28 1949537 frs-core:CurrentFinancialInstruments 2024-02-28 1949537 frs-core:Non-currentFinancialInstruments 2024-02-28 1949537 frs-core:FurnitureFittings 2023-03-01 2024-02-28 1949537 frs-core:NetGoodwill 2024-02-28 1949537 frs-core:NetGoodwill 2023-03-01 2024-02-28 1949537 frs-core:NetGoodwill 2023-02-28 1949537 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-28 1949537 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-28 1949537 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 1949537 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 1949537 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 1949537 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 1949537 frs-core:MotorVehicles 2023-03-01 2024-02-28 1949537 frs-core:PlantMachinery 2024-02-28 1949537 frs-core:PlantMachinery 2023-03-01 2024-02-28 1949537 frs-core:PlantMachinery 2023-02-28 1949537 frs-core:ShareCapital 2024-02-28 1949537 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 1949537 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 1949537 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 1949537 frs-bus:SmallEntities 2023-03-01 2024-02-28 1949537 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 1949537 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 1949537 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-02-28 1949537 frs-bus:Director1 2023-03-01 2024-02-28 1949537 frs-bus:Director2 2023-03-01 2024-02-28 1949537 frs-bus:Director3 2023-03-01 2024-02-28 1949537 frs-countries:EnglandWales 2023-03-01 2024-02-28 1949537 2022-02-28 1949537 2023-02-28 1949537 2022-03-01 2023-02-28 1949537 frs-core:CurrentFinancialInstruments 2023-02-28 1949537 frs-core:Non-currentFinancialInstruments 2023-02-28 1949537 frs-core:ShareCapital 2023-02-28 1949537 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 1949537 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-02-28
Registered number: 1949537
Silcock Leisure Group Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 1949537
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 20,000
Tangible Assets 5 4,020,306 4,076,554
4,020,306 4,096,554
CURRENT ASSETS
Stocks 33,349 37,003
Debtors 6 58,726 114,070
Cash at bank and in hand 975,212 1,817,975
1,067,287 1,969,048
Creditors: Amounts Falling Due Within One Year 7 (809,881 ) (1,598,541 )
NET CURRENT ASSETS (LIABILITIES) 257,406 370,507
TOTAL ASSETS LESS CURRENT LIABILITIES 4,277,712 4,467,061
Creditors: Amounts Falling Due After More Than One Year 8 (514,737 ) (665,646 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (92,000 ) (78,000 )
NET ASSETS 3,670,975 3,723,415
CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Profit and Loss Account 3,420,975 3,473,415
SHAREHOLDERS' FUNDS 3,670,975 3,723,415
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr H E Silcock
Director
13/09/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Silcock Leisure Group Limited , (Registered number - 1949537 ), is a company limited by shares.
The company is incorporated in England & Wales. 
The Registered Office is Pier Forecourt, Promenade, Southport, PR8 1QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling (£)


2.2. Turnover
Turnover represents the invoiced value, net of Value Added Tax, of goods sold and services provided to customers. For arcade income , revenue is recognised on receipt of the cash into the machines, net of amounts paid out as prizes. For other sales, revenue is recognised on delivery of the goods or performance of the service.



2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.

2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at rates calculated to write down the cost of fixed assets, less their estimated residual value, over their expected useful lives. The rates generally applicable are shown below.

Properties are subject to a policy of regular maintenance or repair and the residual value at the end of the remaining useful life to the company will be such that any diminution in value would be insignificant.

Assets held under finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The depreciation rates generally applicable are:

Freehold 2%
Leasehold 2%
Plant & Machinery 10-25%
Motor Vehicles 25%
Fixtures & Fittings 10-25%
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Page 4
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.


2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.



2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.


2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.



2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
During the year, the average number of people employed was 20 (2023: 18)
20 18
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 100,000
As at 28 February 2024 100,000
Amortisation
As at 1 March 2023 80,000
Provided during the period 20,000
As at 28 February 2024 100,000
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 20,000
This represents the goodwill arising on the purchase of the Sovereign Amusement Arcade. In the opinion of the directors the economic useful life of the asset is five years.
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Total
£ £ £ £
Cost
As at 1 March 2023 2,413,143 1,179,714 790,621 4,383,478
Additions - - 121,640 121,640
As at 28 February 2024 2,413,143 1,179,714 912,261 4,505,118
Depreciation
As at 1 March 2023 - - 306,924 306,924
Provided during the period - - 177,888 177,888
As at 28 February 2024 - - 484,812 484,812
Net Book Value
As at 28 February 2024 2,413,143 1,179,714 427,449 4,020,306
As at 1 March 2023 2,413,143 1,179,714 483,697 4,076,554

There is no deprecation charge on the cost of property, because the directors consider that, due to maintenance and repairs carried out regularly, the residual value at the end of the remaining useful life will be such that any diminution in value would not be material.


Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 58,726 56,747
Amounts owed by related parties - 57,323
58,726 114,070


7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 98,728 366,852
Bank loans and overdrafts 160,533 170,158
Corporation tax 10,100 15,000
Other taxes and social security 54,108 43,222
Other creditors 322,886 722,631
Directors' loan accounts 134,816 230,678
Amounts owed to related parties 28,710 -
Loan from pension fund - 50,000
809,881 1,598,541

8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - secured 514,737 665,646
9. Deferred Taxation
This provision for deferred tax relates to:   
2024 2023
£ £
Accelerated capital allowances 92,000 78,000
10. Pension Commitments
The company operates two defined contribution pension schemes for the benfit of the employess and the directors
The assets of the schemes are help seperately from those of the company in independently administered funds
The employee scheme is administered by Now Pensions. There is also a small self administered scheme for the directors.
Page 6
Page 7
11. Operating Leases
The company has commitments under operating leases relating to land and buildings. 
The annual commitment is £110,000. (2022 - £110,000).
At 28 February 2024, the total commitment over the remaining life of the leases was £719,000. (2023 - £806,000)
Page 7