Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 07521951 Mr Anthony Olley Mr Anthony Olley Miss Kayleigh Olley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07521951 2023-02-28 07521951 2024-02-28 07521951 2023-03-01 2024-02-28 07521951 frs-core:CurrentFinancialInstruments 2024-02-28 07521951 frs-core:Non-currentFinancialInstruments 2024-02-28 07521951 frs-core:FurnitureFittings 2024-02-28 07521951 frs-core:FurnitureFittings 2023-03-01 2024-02-28 07521951 frs-core:FurnitureFittings 2023-02-28 07521951 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-28 07521951 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-28 07521951 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 07521951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 07521951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 07521951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 07521951 frs-core:PlantMachinery 2024-02-28 07521951 frs-core:PlantMachinery 2023-03-01 2024-02-28 07521951 frs-core:PlantMachinery 2023-02-28 07521951 frs-core:RevaluationReserve 2023-02-28 07521951 frs-core:RevaluationReserve 2024-02-28 07521951 frs-core:ShareCapital 2024-02-28 07521951 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 07521951 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 07521951 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 07521951 frs-bus:SmallEntities 2023-03-01 2024-02-28 07521951 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 07521951 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 07521951 frs-bus:Director1 2023-03-01 2024-02-28 07521951 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 07521951 frs-bus:CompanySecretary2 2023-03-01 2024-02-28 07521951 frs-core:CurrentFinancialInstruments 2 2024-02-28 07521951 frs-core:Non-currentFinancialInstruments 5 2024-02-28 07521951 frs-countries:EnglandWales 2023-03-01 2024-02-28 07521951 2022-02-28 07521951 2023-02-28 07521951 2022-03-01 2023-02-28 07521951 frs-core:CurrentFinancialInstruments 2023-02-28 07521951 frs-core:Non-currentFinancialInstruments 2023-02-28 07521951 frs-core:RevaluationReserve 2023-02-28 07521951 frs-core:ShareCapital 2023-02-28 07521951 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07521951 frs-core:CurrentFinancialInstruments 2 2023-02-28 07521951 frs-core:Non-currentFinancialInstruments 5 2023-02-28
Registered number: 07521951
Great Breaks Leisure Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Clear Accounting Limited
Parc Gwyddoniaeth Menai
Gaerwen
Ynys Mon
LL60 6AG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07521951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,014,750 1,018,413
1,014,750 1,018,413
CURRENT ASSETS
Debtors 5 9,185 -
Cash at bank and in hand 13,323 3,919
22,508 3,919
Creditors: Amounts Falling Due Within One Year 6 (369,752 ) (355,447 )
NET CURRENT ASSETS (LIABILITIES) (347,244 ) (351,528 )
TOTAL ASSETS LESS CURRENT LIABILITIES 667,506 666,885
Creditors: Amounts Falling Due After More Than One Year 7 (376,593 ) (390,469 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,636 ) (2,636 )
NET ASSETS 288,277 273,780
CAPITAL AND RESERVES
Called up share capital 8 240,000 240,000
Revaluation reserve 9 210,000 210,000
Profit and Loss Account (161,723 ) (176,220 )
SHAREHOLDERS' FUNDS 288,277 273,780
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 27 November 2024 and were signed on its behalf by:
Kayleigh Olley (Secretary)
Mr Anthony Olley
Director
27th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Great Breaks Leisure Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07521951 . The registered office is Ceilwart Bungalow, North Promenade, Barmouth, Gwynedd, LL42 1BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Leasehold 0%
Plant & Machinery 15%
Fixtures & Fittings 15%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2023 926,235 78,303 4,436 19,982 1,028,956
As at 28 February 2024 926,235 78,303 4,436 19,982 1,028,956
Depreciation
As at 1 March 2023 - - 2,733 7,810 10,543
Provided during the period - - 666 2,997 3,663
As at 28 February 2024 - - 3,399 10,807 14,206
Net Book Value
As at 28 February 2024 926,235 78,303 1,037 9,175 1,014,750
As at 1 March 2023 926,235 78,303 1,703 12,172 1,018,413
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,501 -
Other debtors 3,684 -
9,185 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,995 5,533
Bank loans and overdrafts 15,080 15,402
Corporation tax 1 -
Other taxes and social security 9,271 5,126
VAT 51,022 33,949
Net wages - 194
Other creditors 29,182 40,326
Other creditors (2) 254,917 254,917
Accruals and deferred income 700 -
Director's loan account 5,584 -
369,752 355,447
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Development Bank 257,499 258,705
Reward Captial 96,912 97,484
Bank Loan 22,182 34,280
376,593 390,469
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 240,000 240,000
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 210,000
As at 28 February 2024 210,000
Page 5