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REGISTERED NUMBER: SC397218 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

AB Leisure Limited

AB Leisure Limited (Registered number: SC397218)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

AB Leisure Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: A R MacHugh
R MacHugh





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





REGISTERED NUMBER: SC397218 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

AB Leisure Limited (Registered number: SC397218)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 18,186 17,676

CURRENT ASSETS
Stocks 8,520 8,350
Debtors 6 125,845 142,750
Cash at bank and in hand 20,630 17,540
154,995 168,640
CREDITORS
Amounts falling due within one year 7 85,597 89,647
NET CURRENT ASSETS 69,398 78,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,584

96,669

CREDITORS
Amounts falling due after more than one
year

8

(14,371

)

(25,115

)

PROVISIONS FOR LIABILITIES (3,117 ) (2,725 )
NET ASSETS 70,096 68,829

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings 96 (1,171 )
SHAREHOLDERS' FUNDS 70,096 68,829

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

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

AB Leisure Limited (Registered number: SC397218)

Balance Sheet - continued
31 October 2023


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 11 October 2024 and were signed on its behalf by:





A R MacHugh - Director


AB Leisure Limited (Registered number: SC397218)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

AB Leisure Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Grants considered to be revenue in nature are credited to the profit and loss account in the period to which they relate. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate.

Turnover
Turnover is derived from the operation of a public house.

Turnover is measured at the fair value of goods supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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 - 10% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts 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. 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.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred

AB Leisure Limited (Registered number: SC397218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

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

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 appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement 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 amounts of stocks recognised as an expense in the period in which the reversal occurs.

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 taxation
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

AB Leisure Limited (Registered number: SC397218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 96,703
Additions 4,500
At 31 October 2023 101,203
DEPRECIATION
At 1 November 2022 79,027
Charge for year 3,990
At 31 October 2023 83,017
NET BOOK VALUE
At 31 October 2023 18,186
At 31 October 2022 17,676

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 125,845 142,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,745 10,480
Trade creditors 27,926 25,515
Taxation and social security 32,353 43,777
Other creditors 14,573 9,875
85,597 89,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,371 25,115

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,116 35,595

The bank loan is supported by a 100% guarantee from the UK Government.

AB Leisure Limited (Registered number: SC397218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
A R MacHugh
Balance outstanding at start of year 42,371 39,871
Amounts advanced 25,355 25,500
Amounts repaid (20,550 ) (23,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,176 42,371

R MacHugh
Balance outstanding at start of year 41,077 38,577
Amounts advanced 26,649 25,500
Amounts repaid (20,550 ) (23,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,176 41,077

These loans are unsecured, interest free and have no fixed repayment terms.

11. RELATED PARTY DISCLOSURES

During the year Sano Pizza Limited, a related party, repaid loans of £32,192 to the company. At the year end the balance due to Sano Pizza Limited was £705 (2023: £31,487dr).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
AB 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 Income Statement 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 AB Leisure Limited for the year ended 31 October 2023 which comprise the Income Statement, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of AB 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 AB Leisure Limited and state those matters that we have agreed to state to the Board of Directors of AB Leisure Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

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






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


11 October 2024