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REGISTERED NUMBER: SC653804 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Leisure Management (Scotland) Ltd

Leisure Management (Scotland) Ltd (Registered number: SC653804)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Leisure Management (Scotland) Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs L J Connelly
M T Taylor
M R Taylor





REGISTERED OFFICE: c/o Gillespie & Anderson CA
147 Bath Street
Glasgow
G2 4SN





REGISTERED NUMBER: SC653804 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Leisure Management (Scotland) Ltd (Registered number: SC653804)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 400 400

CURRENT ASSETS
Cash in hand 100 100

CREDITORS
Amounts falling due within one year 5 610 610
NET CURRENT LIABILITIES (510 ) (510 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(110

)

(110

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 (210 ) (210 )
(110 ) (110 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





M R Taylor - Director


Leisure Management (Scotland) Ltd (Registered number: SC653804)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Leisure Management (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.

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


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.

Going concern
The directors consider it appropriate to prepare the financial statements on the going concern basis, in spite of the balance sheet showing a net liabilities position and the reliance on subsidiary companies for support, since the directors of those companies have pledged their ongoing commitment to the company.

Should this support be withdrawn or unavailable, the company may be unable to realise its assets and discharge its liabilities in the normal course of business, whilst adjustments would have to be made to reduce the value of assets to their recoverable amounts and to provide for any further liabilities which may arise.

Significant judgements and estimates
The directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of: cash in hand and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Leisure Management (Scotland) Ltd (Registered number: SC653804)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 400
NET BOOK VALUE
At 31 January 2024 400
At 31 January 2023 400

Fixed asset investments reflect the company's investment in its four subsidiary companies, namely Lochview Theme Park (Scotland) Ltd, Bizarre Bar Ltd, Leisure Property Management (Scotland) Ltd and Alona Hotel Ltd.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 610 610

6. SECURED DEBTS

The company has granted a floating charge to the Clydesdale Bank PLC in respect of all present and future obligations over the whole of the company's property and assets, dated 23rd April 2020.

Leisure Management (Scotland) Ltd (Registered number: SC653804)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. RESERVES
Retained
earnings
£   

At 1 February 2023 (210 )
Profit for the year 120,000
Dividends (120,000 )
At 31 January 2024 (210 )

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The directors consider that there is no ultimate controlling party - the issued share capital (which rank pari passu in all respects) is divided equally between the three directors of the company and Matthew W Taylor, all of whom own 25% of the shares.