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REGISTERED NUMBER: 04690432 (England and Wales)












Contemporary Leisure Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Contemporary Leisure Limited (Registered number: 04690432)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Contemporary Leisure Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr R D Fergus





SECRETARY: Mr R D Fergus





REGISTERED OFFICE: Royal Standard
1 St Peters Hill
Flushing
Falmouth
Cornwall
TR11 5TP





REGISTERED NUMBER: 04690432 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Contemporary Leisure Limited (Registered number: 04690432)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,281 10,989
Tangible assets 5 261,512 98,718
Investments 6 10,000 10,000
281,793 119,707

CURRENT ASSETS
Stocks 18,251 17,972
Debtors 7 71,606 176,686
Cash at bank and in hand 104,378 113,386
194,235 308,044
CREDITORS
Amounts falling due within one year 8 44,159 30,653
NET CURRENT ASSETS 150,076 277,391
TOTAL ASSETS LESS CURRENT LIABILITIES 431,869 397,098

PROVISIONS FOR LIABILITIES 13,149 8,697
NET ASSETS 418,720 388,401

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 418,620 388,301
SHAREHOLDERS' FUNDS 418,720 388,401

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 13 February 2025 and were signed by:



Mr R D Fergus - Director


Contemporary Leisure Limited (Registered number: 04690432)

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

1. STATUTORY INFORMATION

Contemporary 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.

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

Intangible fixed assets
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Goodwill - 10% on cost
Website - 20% on cost

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.
Short leasehold - 2% on cost and over the term of the lease
Fixtures, fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Contemporary Leisure Limited (Registered number: 04690432)

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

2. ACCOUNTING POLICIES - continued

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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 11,753 600 12,353
AMORTISATION
At 1 June 2023 764 600 1,364
Amortisation for year 708 - 708
At 31 May 2024 1,472 600 2,072
NET BOOK VALUE
At 31 May 2024 10,281 - 10,281
At 31 May 2023 10,989 - 10,989

Contemporary Leisure Limited (Registered number: 04690432)

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

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold Short and Motor
property leasehold equipment vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 - 106,055 39,584 12,325 157,964
Additions 150,000 - 4,252 36,650 190,902
Disposals - - - (12,325 ) (12,325 )
At 31 May 2024 150,000 106,055 43,836 36,650 336,541
DEPRECIATION
At 1 June 2023 - 42,123 14,295 2,828 59,246
Charge for year 3,000 2,016 5,960 8,232 19,208
Eliminated on disposal - - - (3,425 ) (3,425 )
At 31 May 2024 3,000 44,139 20,255 7,635 75,029
NET BOOK VALUE
At 31 May 2024 147,000 61,916 23,581 29,015 261,512
At 31 May 2023 - 63,932 25,289 9,497 98,718

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Freehold
property
£   
COST
Additions 150,000
At 31 May 2024 150,000
DEPRECIATION
Charge for year 3,000
At 31 May 2024 3,000
NET BOOK VALUE
At 31 May 2024 147,000

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 10,000
NET BOOK VALUE
At 31 May 2024 10,000
At 31 May 2023 10,000

Contemporary Leisure Limited (Registered number: 04690432)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 284 284
Other debtors 71,322 176,402
71,606 176,686

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 837 600
Taxation and social security 38,007 23,628
Other creditors 5,315 6,425
44,159 30,653

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the year end of £11,667 (2023: £31,667).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr R D Fergus
Balance outstanding at start of year 128,022 317,079
Amounts advanced 39,508 23,483
Amounts repaid (144,098 ) (212,540 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,432 128,022

Interest has been charged on the overdrawn directors loan account in line with the official HM Revenue & Customs rate.