Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2022-08-01falseOther amusement and recreation activities not elsewhere classified103truetruefalse SC345162 2022-08-01 2024-01-31 SC345162 2021-08-01 2022-07-31 SC345162 2024-01-31 SC345162 2022-07-31 SC345162 2022-08-01 SC345162 c:CompanySecretary1 2022-08-01 2024-01-31 SC345162 c:Director1 2022-08-01 2024-01-31 SC345162 c:Director2 2022-08-01 2024-01-31 SC345162 c:Director3 2022-08-01 2024-01-31 SC345162 c:RegisteredOffice 2022-08-01 2024-01-31 SC345162 d:PlantMachinery 2022-08-01 2024-01-31 SC345162 d:PlantMachinery 2024-01-31 SC345162 d:PlantMachinery 2022-07-31 SC345162 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2024-01-31 SC345162 d:OfficeEquipment 2022-08-01 2024-01-31 SC345162 d:OfficeEquipment 2024-01-31 SC345162 d:OfficeEquipment 2022-07-31 SC345162 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2024-01-31 SC345162 d:OwnedOrFreeholdAssets 2022-08-01 2024-01-31 SC345162 d:CurrentFinancialInstruments 2024-01-31 SC345162 d:CurrentFinancialInstruments 2022-07-31 SC345162 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 SC345162 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 SC345162 d:ShareCapital 2024-01-31 SC345162 d:ShareCapital 2022-07-31 SC345162 d:RetainedEarningsAccumulatedLosses 2024-01-31 SC345162 d:RetainedEarningsAccumulatedLosses 2022-07-31 SC345162 c:FRS102 2022-08-01 2024-01-31 SC345162 c:AuditExempt-NoAccountantsReport 2022-08-01 2024-01-31 SC345162 c:FullAccounts 2022-08-01 2024-01-31 SC345162 c:PrivateLimitedCompanyLtd 2022-08-01 2024-01-31 SC345162 d:WithinOneYear 2024-01-31 SC345162 d:WithinOneYear 2022-07-31 SC345162 d:BetweenOneFiveYears 2024-01-31 SC345162 d:BetweenOneFiveYears 2022-07-31 SC345162 d:MoreThanFiveYears 2024-01-31 SC345162 d:MoreThanFiveYears 2022-07-31 SC345162 e:PoundSterling 2022-08-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: SC345162














JAA LEISURE LIMITED





UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 JANUARY 2024

 
JAA LEISURE LIMITED
 

COMPANY INFORMATION


Directors
Alfred J Codona 
Andrea Codona 
Alan J Codona Jnr 




Company secretary
LC Secretaries Limited



Registered number
SC345162



Registered office
Johnstone House
52-54 Rose Street

Aberdeen

AB10 1HA




Accountants
AAB Business & Tax Advisory LLP
Chartered Accountants

Kingshill View

Prime Four Business Park

Kingswells

Aberdeen

AB15 8PU





 
JAA LEISURE LIMITED
 

CONTENTS



Page
Directors' Responsibilities Statement
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 8


 
JAA LEISURE LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 JANUARY 2024

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Page 1

 
JAA LEISURE LIMITED
REGISTERED NUMBER:SC345162

BALANCE SHEET
AS AT 31 JANUARY 2024

31 January
31 July
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,478
-

  
29,478
-

Current assets
  

Debtors: amounts falling due within one year
 5 
16,347
90

Cash at bank and in hand
 6 
99,756
-

  
116,103
90

Creditors: amounts falling due within one year
 7 
(253,583)
-

Net current (liabilities)/assets
  
 
 
(137,480)
 
 
90

Total assets less current liabilities
  
(108,002)
90

  

Net (liabilities)/assets
  
(108,002)
90


Capital and reserves
  

Called up share capital 
  
90
90

Profit and loss account
  
(108,092)
-

  
(108,002)
90


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2

 
JAA LEISURE LIMITED
REGISTERED NUMBER:SC345162

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Alfred J Codona
Director

Date: 30 October 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
JAA LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

JAA Leisure Limited is a private company limited by shares incorporated in Scotland. The registered office is Johnstone House, 52-54 Rose Street, Aberdeen.
The principal activity of the company is the provision of amusement and recreational activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net liabilities of £108,002.  The company has no bank debt but included within creditors are loans from a related party with a value of £201,651 (see Note 7). The related party has  given an undertaking to the company that such loans will not be called to the detriment of third party creditors. The ultimate shareholders have confirmed that they will continue to provide support to meet ongoing monthly expenditure and to support the company for the foreseeable future and for at least the next 12 month period.  The going concern assumption is based on the continuing support of related parties.  Without such an undertaking, the company would be unable to continue as a going concern.
As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
JAA LEISURE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
5 years
Office equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
JAA LEISURE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the period was 10 (2022 - 3).

Page 6

 
JAA LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

4.


Tangible fixed assets







Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


Additions
33,163
1,020
34,183



At 31 January 2024

33,163
1,020
34,183



Depreciation


Charge for the period on owned assets
4,422
283
4,705



At 31 January 2024

4,422
283
4,705



Net book value



At 31 January 2024
28,741
737
29,478



At 31 July 2022
-
-
-


5.


Debtors

31 January
31 July
2024
2022
£
£


Other debtors
12,507
-

Called up share capital not paid
90
90

Prepayments and accrued income
3,750
-

16,347
90



6.


Cash and cash equivalents

31 January
31 July
2024
2022
£
£

Cash at bank and in hand
99,756
-

99,756
-


Page 7

 
JAA LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

31 January
31 July
2024
2022
£
£

Trade creditors
8,952
-

Amounts owed to related undertakings
201,651
-

Other taxation and social security
4,011
-

Other creditors
6,580
-

Accruals and deferred income
32,389
-

253,583
-



8.


Pension commitments

The company contributes to a defined contribution group pension scheme. There are unpaid contributions outstanding at the year end, including accruals totalling £ 28 (2022 - £nil)


9.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 January
31 July
2024
2022
£
£


Not later than 1 year
45,000
-

Later than 1 year and not later than 5 years
193,333
-

Later than 5 years
476,667
-

715,000
-


10.


Related party transactions

Control
During the period the company was controlled by the directors.
Transactions
During the period the company received loans from a company with common directors amounting to £100,000, received recharged costs totalling £141,651 and repaid amounts totalling £35,000.  At the period end £201,651 remained outstanding.


Page 8