Registered number: 06705041
DTD LEISURE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
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DTD LEISURE LIMITED
REGISTERED NUMBER: 06705041
BALANCE SHEET
AS AT 30 JUNE 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2025.
The notes on pages 2 to 6 form part of these financial statements.
Page 1
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DTD LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1.Accounting policies
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Basis of preparation of financial statements
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DTD Leisure Limited (''the company'') is a limited liability company, limited by shares, incorporated and domiciled in the United Kingdom. The address of its registered office is 15 Beck Street, Nottingham, England, NG1 1EQ.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 30 June 2024 (2023: 18 month period ended 30 June 2023).
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company has received confirmation of continuing financial support from the ultimate controlling party, who confirm that they will provide sufficient funds for the company to meet its financial obligations for a period of at least twelve months from the date of these financial statements.
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.
Interest income is recognised in the profit and loss account using the effective interest method.
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.
Investments in subsidiaries are stated at cost less provision for impairment where necessary to reduce book value to recoverable amount.
Page 2
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DTD LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans to from other third parties.
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
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The average monthly number of employees, including directors, during the year was 0 (2023: 1).
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Period ended 30 June 2023
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Write off of amounts due to related parties
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During the year ended 30 June 2024, £1,276,541 of amounts due to related parties were written off as they were waived by the related party they were originally owed to. This adjustment has increased the profit and loss account and total net assets by £1,276,541 for the current period.
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Investments
in subsidiary
companies
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At 1 July 2023 and 30 June 2024
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Page 3
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DTD LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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The following were subsidiary undertakings of the company:
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Redfield Way Boulevard Retail Park, Lenton, Nottingham, England, NG7 2UW
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15 Beck Street, Nottingham, England, NG1 1EQ
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Due after more than one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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Other taxation and social security
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Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment.
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Creditors: Amounts falling due within one year
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Amounts owed to related parties
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Accruals and deferred income
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Amounts owed to related parties are unsecured, interest free and have no fixed date of repayment.
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Page 4
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DTD LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Creditors: Amounts falling due after more than one year
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Amounts owed to related parties
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Amounts owed to related parties are unsecured, interest free and have no fixed date of repayment.
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Commitments under operating leases
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At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Page 5
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DTD LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Related party transactions
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During the year ended, the company made a charitable donation of £4,809 (18 month period ended 30 June 2023: £5,038) to a company under common control.
At 30 June 2024, the company was owed £Nil (2023: £856) by and owed £53,608 (2023: £1,354,161) to companies under common control. These amounts are recognised within other debtors and other creditors. The company has taken advantage of the exemption conferred by FRS 102 section 33 'Related Party Disclosures' not to disclose transactions with companies within the group of which it is a member, where these transactions occur between entities which are 100% owned members of that group.
During the prior period, the company transferred £4,913,143 from amounts owed due from companies under common control, to the shareholder's loan account. During the 12 month period ended 30 June 2024, advances of £1,768,390 were made from the shareholder to the company, and the company repaid amounts of £653,178 to the shareholder. At the year end, the company owed £1,197,703 (2023: £82,491) to the shareholder via the shareholder's loan account.
All amounts owed to and by related party balances are interest free, have no fixed repayment date and are unsecured.
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The ultimate controlling party is R T Yong.
Page 6
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