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REGISTERED NUMBER: 09020434 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st October 2023

for

LTS Leisure Limited

LTS Leisure Limited (Registered number: 09020434)






Contents of the Financial Statements
for the year ended 31st October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

LTS Leisure Limited

Company Information
for the year ended 31st October 2023







DIRECTORS: M Hornshaw
P A Hornshaw
J W Latus
S P Latus



REGISTERED OFFICE: Hull Sports Centre
Chanterlands Avenue
Hull
East Yorkshire
HU5 4EF



REGISTERED NUMBER: 09020434 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Lloyds Bank
2 Silver Street
Hull
HU1 1HX

LTS Leisure Limited (Registered number: 09020434)

Abridged Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 730,907 679,999

CURRENT ASSETS
Stocks 12,984 7,825
Debtors 10,012 6,554
Cash at bank and in hand 21,558 43,105
44,554 57,484
CREDITORS
Amounts falling due within one year 30,018 21,332
NET CURRENT ASSETS 14,536 36,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

745,443

716,151

CREDITORS
Amounts falling due after more than one
year

(639,820

)

(639,820

)

PROVISIONS FOR LIABILITIES (41,067 ) (41,997 )
NET ASSETS 64,556 34,334

CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Revaluation reserve 6 95,833 93,916
Retained earnings (32,277 ) (60,582 )
SHAREHOLDERS' FUNDS 64,556 34,334

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 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.

LTS Leisure Limited (Registered number: 09020434)

Abridged Balance Sheet - continued
31st October 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2nd October 2024 and were signed on its behalf by:




J W Latus - Director



P A Hornshaw - Director


LTS Leisure Limited (Registered number: 09020434)

Notes to the Financial Statements
for the year ended 31st October 2023

1. STATUTORY INFORMATION

LTS 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 (£).


The company's trading address is the YPI Sports Centre, Chanterlands Avenue, Hull.

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 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.
Land and buildings - not provided
Plant and machinery etc - 33% on cost and 15% 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.

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.

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.

LTS Leisure Limited (Registered number: 09020434)

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

2. ACCOUNTING POLICIES - continued

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.

Revenue recognition
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on their fair value of the right to consideration at the balance sheet date.

Going concern
The company is insolvent and is dependent upon the continuing support of the directors in order to continue trading. After due and careful consideration the Directors are satisfied that the company will be able to make sufficient profits in the future to enable it to discharge any liabilities as they arise. The Directors have therefore confirmed that they will continue to support the company and the accounts have been prepared under the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st November 2022 744,347
Additions 59,787
At 31st October 2023 804,134
DEPRECIATION
At 1st November 2022 64,348
Charge for year 8,879
At 31st October 2023 73,227
NET BOOK VALUE
At 31st October 2023 730,907
At 31st October 2022 679,999

Cost or valuation at 31st October 2023 is represented by:

Totals
£   
Valuation in 2021 127,777
Cost 676,357
804,134

LTS Leisure Limited (Registered number: 09020434)

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

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

6. RESERVES
Revaluation
reserve
£   
At 1st November 2022 93,916
Deferred taxation adjustment 1,917

At 31st October 2023 95,833

7. RELATED PARTY DISCLOSURES

As at 31 October 2023 Wauldby Associates Limited a majority shareholder of the company and a company controlled by the directors, P Hornshaw & M Hornshaw was owed £639,820 (2022 - £639,820) by the company.





Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
LTS Leisure Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors 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 LTS Leisure Limited for the year ended 31st October 2023 which comprise the Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LTS Leisure Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LTS Leisure Limited and state those matters that we have agreed to state to the Board of Directors of LTS Leisure Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LTS Leisure Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LTS 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 LTS Leisure Limited. You consider that LTS 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 LTS 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.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


2nd October 2024