IRIS Accounts Production v24.3.0.553 SC354568 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3545682023-02-28SC3545682024-02-29SC3545682023-03-012024-02-29SC3545682022-02-28SC3545682022-03-012023-02-28SC3545682023-02-28SC354568ns15:Scotland2023-03-012024-02-29SC354568ns14:PoundSterling2023-03-012024-02-29SC354568ns10:Director12023-03-012024-02-29SC354568ns10:Director22023-03-012024-02-29SC354568ns10:PrivateLimitedCompanyLtd2023-03-012024-02-29SC354568ns10:SmallEntities2023-03-012024-02-29SC354568ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-29SC354568ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-29SC354568ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-29SC354568ns10:FullAccounts2023-03-012024-02-29SC354568ns10:Director32023-03-012024-02-29SC354568ns10:CompanySecretary12023-03-012024-02-29SC354568ns10:RegisteredOffice2023-03-012024-02-29SC354568ns5:CurrentFinancialInstruments2024-02-29SC354568ns5:CurrentFinancialInstruments2023-02-28SC354568ns5:Non-currentFinancialInstruments2024-02-29SC354568ns5:Non-currentFinancialInstruments2023-02-28SC354568ns5:ShareCapital2024-02-29SC354568ns5:ShareCapital2023-02-28SC354568ns5:RetainedEarningsAccumulatedLosses2024-02-29SC354568ns5:RetainedEarningsAccumulatedLosses2023-02-28SC354568ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-012024-02-29SC354568ns5:PlantMachinery2023-03-012024-02-29SC354568ns5:ComputerEquipment2023-03-012024-02-29SC354568ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-28SC354568ns5:PlantMachinery2023-02-28SC354568ns5:ComputerEquipment2023-02-28SC354568ns5:LandBuildingsns5:ShortLeaseholdAssets2024-02-29SC354568ns5:PlantMachinery2024-02-29SC354568ns5:ComputerEquipment2024-02-29SC354568ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-28SC354568ns5:PlantMachinery2023-02-28SC354568ns5:ComputerEquipment2023-02-28SC354568ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-02-29SC354568ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-02-28SC354568ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-29SC354568ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-28SC354568ns5:WithinOneYear2024-02-29SC354568ns5:WithinOneYear2023-02-28SC354568ns5:BetweenOneFiveYears2024-02-29SC354568ns5:BetweenOneFiveYears2023-02-28SC354568ns5:MoreThanFiveYears2024-02-29SC354568ns5:MoreThanFiveYears2023-02-28SC354568ns5:AllPeriods2024-02-29SC354568ns5:AllPeriods2023-02-28
REGISTERED NUMBER: SC354568 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

LEISURE ISLAND (SCOTLAND) LTD.

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEISURE ISLAND (SCOTLAND) LTD.

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: R Di Ciacca
H Smith
H Smith





SECRETARY: H Smith





REGISTERED OFFICE: C/O Kean Jarman & Co.
27 Ingram Street
Glasgow
G1 1HA





REGISTERED NUMBER: SC354568 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,862 135,973

CURRENT ASSETS
Debtors 5 2,375 5,101
Cash at bank and in hand 81,270 64,509
83,645 69,610
CREDITORS
Amounts falling due within one year 6 86,477 80,623
NET CURRENT LIABILITIES (2,832 ) (11,013 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,030

124,960

CREDITORS
Amounts falling due after more than one
year

7

(22,823

)

(32,531

)

PROVISIONS FOR LIABILITIES (20,073 ) (23,134 )
NET ASSETS 74,134 69,295

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,034 69,195
SHAREHOLDERS' FUNDS 74,134 69,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

BALANCE SHEET - continued
29 February 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 8 October 2024 and were signed on its behalf by:




R Di Ciacca - Director



H Smith - Director


LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Leisure Island (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. 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.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 March 2023 11,476 555,172 1,635 568,283
Additions - 5,040 - 5,040
At 29 February 2024 11,476 560,212 1,635 573,323
DEPRECIATION
At 1 March 2023 11,476 419,823 1,011 432,310
Charge for year - 21,058 93 21,151
At 29 February 2024 11,476 440,881 1,104 453,461
NET BOOK VALUE
At 29 February 2024 - 119,331 531 119,862
At 28 February 2023 - 135,349 624 135,973

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Prepayments and accrued income 2,375 5,101

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 9,568 9,568
Social security and other taxes 2,540 3,081
Other creditors 469 469
Directors' current accounts 64,000 63,948
Accrued expenses 9,900 3,557
86,477 80,623

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 9,568 9,568
Bank loans - 2-5 years 13,255 22,963
22,823 32,531

LEISURE ISLAND (SCOTLAND) LTD. (REGISTERED NUMBER: SC354568)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 126,000 126,000
Between one and five years 504,000 504,000
In more than five years 756,000 882,000
1,386,000 1,512,000

9. RELATED PARTY DISCLOSURES

The directors of the company were owed £64,000 (2023-£63,948) at the year end. £64,000 was the maximum amount outstanding during the year.