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Registration number: 14227405

Leisure 42 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Leisure 42 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Leisure 42 Limited

Company Information

Director

Mrs Dayna Netherton-Sinclair

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Leisure 42 Limited

(Registration number: 14227405)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

528,217

413,746

Current assets

 

Debtors

5

1,965

725

Cash at bank and in hand

 

5,933

7,157

 

7,898

7,882

Creditors: Amounts falling due within one year

6

(1,246)

(1,366)

Net current assets

 

6,652

6,516

Total assets less current liabilities

 

534,869

420,262

Creditors: Amounts falling due after more than one year

6

(584,217)

(419,349)

Provisions for liabilities

(2,391)

(2,391)

Net liabilities

 

(51,739)

(1,478)

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

10,193

10,193

Retained earnings

(62,932)

(12,671)

Shareholders' deficit

 

(51,739)

(1,478)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 November 2024
 

 

Leisure 42 Limited

(Registration number: 14227405)
Balance Sheet as at 31 July 2024 (continued)

.........................................
Mrs Dayna Netherton-Sinclair
Director

 

Leisure 42 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture

25% Straight Line

Office Equipment

25% Straight Line

 

Leisure 42 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 0).

 

Leisure 42 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

395,000

24,995

419,995

Revaluations

(15,386)

-

(15,386)

Additions

120,386

20,959

141,345

At 31 July 2024

500,000

45,954

545,954

Depreciation

At 1 August 2023

-

6,249

6,249

Charge for the year

-

11,488

11,488

At 31 July 2024

-

17,737

17,737

Carrying amount

At 31 July 2024

500,000

28,217

528,217

At 31 July 2023

395,000

18,746

413,746

Included within the net book value of land and buildings above is £500,000 (2023 - £395,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Prepayments

163

-

Other debtors

1,802

725

 

1,965

725

 

Leisure 42 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

31

152

Accruals and deferred income

1,215

1,215

Other creditors

-

(1)

1,246

1,366

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

584,217

419,349

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

10,193

10,193

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

80,256

-

Other borrowings

503,961

419,349

584,217

419,349