Registered number
07185815
Catlow Leisure Limited
Filleted Accounts
30 June 2024
Rivermoor Accounting Limited
Accountants
Orchards End
Kelsey Road
Moortown
Lincolnshire
LN7 6JB
Catlow Leisure Limited
Registered number: 07185815
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,859,188 1,815,603
Current assets
Stocks 3,000 3,000
Debtors 4 1,628 1,383
Cash at bank and in hand 85,641 160,285
90,269 164,668
Creditors: amounts falling due within one year 5 (284,925) (323,667)
Net current liabilities (194,656) (158,999)
Total assets less current liabilities 1,664,532 1,656,604
Creditors: amounts falling due after more than one year 6 (1,152,257) (1,142,849)
Provisions for liabilities (23,745) (11,901)
Net assets 488,530 501,854
Capital and reserves
Called up share capital 100 100
Profit and loss account 488,430 501,754
Shareholders' funds 488,530 501,854
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms S Ahmad
Director
Approved by the board on 2 October 2024
Catlow Leisure Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Leasehold land and buildings 3% straight line
Fixtures and fittings 15% reducing balance
Equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 28
3 Tangible fixed assets
Land and buildings Fixtures and fittings Equipment Total
£ £ £ £
Cost
At 1 July 2023 1,947,238 271,091 67,245 2,285,574
Additions - 71,805 11,471 83,276
At 30 June 2024 1,947,238 342,896 78,716 2,368,850
Depreciation
At 1 July 2023 203,906 221,596 44,469 469,971
Charge for the year 17,018 18,195 4,478 39,691
At 30 June 2024 220,924 239,791 48,947 509,662
Net book value
At 30 June 2024 1,726,314 103,105 29,769 1,859,188
At 30 June 2023 1,743,332 49,495 22,776 1,815,603
4 Debtors 2024 2023
£ £
Other debtors 1,628 1,383
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 46,973 102,861
Trade creditors 30,978 23,816
Taxation and social security costs 43,651 55,544
Other creditors 163,323 141,446
284,925 323,667
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,152,257 1,142,849
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 684,432 731,405
Secured bank loans 1,199,230 1,245,710
The amount due for repayment after more than fiveyears relates to a part of the secured bank loan. This is a mortgage taken out on the freehold of the freehold property. The monthly repayments are now fixed at £11,831 at the year end with interest charged at 6.92% of the outstanding balance. The mortgage is secured on the assets of the company.
8 Other information
Catlow Leisure Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Vicarage
Church Hill
Ingham
Lincolnshire
LN1 2YE
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