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REGISTERED NUMBER: 09315958 (England and Wales)















SHC Leisure Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






SHC Leisure Limited (Registered number: 09315958)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SHC Leisure Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D A Tipping





REGISTERED OFFICE: 76 High Street
Brierley Hill
West Midlands
DY5 3AW





BUSINESS ADDRESS: Unit B, ESD Business Park
Wollaston Road
Stourbridge
DY8 4HE





REGISTERED NUMBER: 09315958 (England and Wales)





ACCOUNTANTS: JMC Accountants & Tax Advisers Ltd
76 High Street
Brierley Hill
West Midlands
DY5 3AW

SHC Leisure Limited (Registered number: 09315958)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,500 5,000
Tangible assets 5 46,599 23,790
49,099 28,790

CURRENT ASSETS
Stocks 105,514 130,204
Debtors 6 41,946 41,957
Cash at bank and in hand 17,574 22,935
165,034 195,096
CREDITORS
Amounts falling due within one year 7 110,502 136,529
NET CURRENT ASSETS 54,532 58,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,631

87,357

CREDITORS
Amounts falling due after more than one
year

8

(57,383

)

(35,649

)

PROVISIONS FOR LIABILITIES (3,533 ) (4,132 )
NET ASSETS 42,715 47,576

CAPITAL AND RESERVES
Called up share capital 4,200 4,200
Retained earnings 38,515 43,376
42,715 47,576

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHC Leisure Limited (Registered number: 09315958)

Balance Sheet - continued
31 March 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 director and authorised for issue on 18 October 2024 and were signed by:





D A Tipping - Director


SHC Leisure Limited (Registered number: 09315958)

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

1. STATUTORY INFORMATION

SHC 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.

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 April 2022.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% 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.


SHC Leisure Limited (Registered number: 09315958)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023 20,000
Amortisation for year 2,500
At 31 March 2024 22,500
NET BOOK VALUE
At 31 March 2024 2,500
At 31 March 2023 5,000

SHC Leisure Limited (Registered number: 09315958)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 62,003 7,296 - 69,299
Additions - 796 37,551 38,347
At 31 March 2024 62,003 8,092 37,551 107,646
DEPRECIATION
At 1 April 2023 40,580 4,929 - 45,509
Charge for year 5,358 792 9,388 15,538
At 31 March 2024 45,938 5,721 9,388 61,047
NET BOOK VALUE
At 31 March 2024 16,065 2,371 28,163 46,599
At 31 March 2023 21,423 2,367 - 23,790

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 37,551
At 31 March 2024 37,551
DEPRECIATION
Charge for year 9,388
At 31 March 2024 9,388
NET BOOK VALUE
At 31 March 2024 28,163

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,230 24,609
Other debtors 12,716 17,348
41,946 41,957

SHC Leisure Limited (Registered number: 09315958)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,555 15,621
Hire purchase contracts 4,638 -
Trade creditors 38,598 51,904
Taxation and social security 51,372 63,793
Other creditors 10,339 5,211
110,502 136,529

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 32,174 35,649
Hire purchase contracts 25,209 -
57,383 35,649

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,951 13,426

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
D A Tipping
Balance outstanding at start of year 6,924 775
Amounts advanced - 6,924
Amounts repaid (6,924 ) (775 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,924

The loan is interest free and repayable on demand.