Leisurezoo Limited
Unaudited Financial Statements
For the year ended 31 May 2024
Pages for Filing with Registrar
Company Registration No. 03565443 (England and Wales)
Leisurezoo Limited
Company Information
Director
J Studholme
Company number
03565443
Registered office
Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
23  Minford Gardens
London
W14 0AP
Bankers
C Hoare & Co
London
EC4P 4DQ
Leisurezoo Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Leisurezoo Limited
Balance Sheet
As at 31 May 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,485
2,462
Current assets
Debtors
4
112,055
66,614
Cash at bank and in hand
179,356
209,836
291,411
276,450
Creditors: amounts falling due within one year
5
(127,802)
(110,086)
Net current assets
163,609
166,364
Net assets
167,094
168,826
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
167,092
168,824
Total equity
167,094
168,826

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 27 February 2025
J Studholme
Director
Company Registration No. 03565443
Leisurezoo Limited
Notes to the Financial Statements
For the year ended 31 May 2024
Page 2
1
Accounting policies
Company information

Leisurezoo Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. The director believes that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts. true

1.3
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Leisurezoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
Page 3
1.6
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leisurezoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
Page 4
1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
Leisurezoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
37,809
Additions
1,589
At 31 May 2024
39,398
Depreciation and impairment
At 1 June 2023
35,347
Depreciation charged in the year
566
At 31 May 2024
35,913
Carrying amount
At 31 May 2024
3,485
At 31 May 2023
2,462
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
91,084
47,145
Other debtors
2,638
1,136
Prepayments and accrued income
18,333
18,333
112,055
66,614
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
23,451
3,555
Corporation tax
44,412
41,042
Other taxation and social security
46,316
46,205
Other creditors
5,123
10,784
Accruals and deferred income
8,500
8,500
127,802
110,086
Leisurezoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 6
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2

All of the ordinary shares carry full voting and control rights.

7
Related party transactions

During the year Blink Productions Limited, a company under common control of the sole director, was invoiced £349,996 (2023: £419,995) by Leisurezoo Limited. The transactions were in the normal course of the business. Included in trade debtors was an amount of £43,999 (2023: £nil) relating to these invoices.

 

Sweethearts of the Rodeo is a related party due to common shareholdings, The balance at the year end due from Sweethearts of the Rodeo is £47,085 (2023: £47,085).

 

At the year end a balance of £1,940 (2023: £211) was owed to J Studholme by the company, a director of the company.

 

In the year, £140,000 (2023: £112,000) of ordinary dividends were paid to the shareholders of the company.

8
Parent company

The director considers there to be no ultimate controlling party.

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