0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 19,648 13,971 852 14,823 4,825 5,677 xbrli:pure xbrli:shares iso4217:GBP 08038166 2023-03-01 2024-02-29 08038166 2024-02-29 08038166 2023-02-28 08038166 2022-03-01 2023-02-28 08038166 2023-02-28 08038166 2022-02-28 08038166 core:FurnitureFittings 2023-03-01 2024-02-29 08038166 bus:Director7 2023-03-01 2024-02-29 08038166 core:FurnitureFittings 2023-02-28 08038166 core:FurnitureFittings 2024-02-29 08038166 core:WithinOneYear 2024-02-29 08038166 core:WithinOneYear 2023-02-28 08038166 core:ShareCapital 2024-02-29 08038166 core:ShareCapital 2023-02-28 08038166 core:RetainedEarningsAccumulatedLosses 2024-02-29 08038166 core:RetainedEarningsAccumulatedLosses 2023-02-28 08038166 core:FurnitureFittings 2023-02-28 08038166 bus:SmallEntities 2023-03-01 2024-02-29 08038166 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08038166 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08038166 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08038166 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 08038166
Pier-View Leisure Limited
Filleted Unaudited Financial Statements
29 February 2024
Pier-View Leisure Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
4,825
5,677
Current assets
Debtors
5
21,506
21,506
Creditors: amounts falling due within one year
6
138,527
137,965
---------
---------
Net current liabilities
117,021
116,459
---------
---------
Total assets less current liabilities
( 112,196)
( 110,782)
---------
---------
Net liabilities
( 112,196)
( 110,782)
---------
---------
Pier-View Leisure Limited
Statement of Financial Position (continued)
29 February 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 112,197)
( 110,783)
---------
---------
Shareholders deficit
( 112,196)
( 110,782)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
Mr E Hilton
Director
Company registration number: 08038166
Pier-View Leisure Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Swallow House, Parsons Road, Washington, Tyne and Wear, NE37 1EZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 March 2023 and 29 February 2024
19,648
19,648
--------
--------
Depreciation
At 1 March 2023
13,971
13,971
Charge for the year
852
852
--------
--------
At 29 February 2024
14,823
14,823
--------
--------
Carrying amount
At 29 February 2024
4,825
4,825
--------
--------
At 28 February 2023
5,677
5,677
--------
--------
5. Debtors
2024
2023
£
£
Other debtors
21,506
21,506
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
40,115
40,116
Other creditors
98,412
97,849
---------
---------
138,527
137,965
---------
---------
7. Director's advances, credits and guarantees
Included within other debtors, there is a directors loan balance of £9,755(2023 :£9,755).
8. Related party transactions
The company was under the control of Mr E Hilton throughout the current period. Mr E Hilton is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.