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REGISTERED NUMBER: 05273230 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 September 2024

for

Leisurebench Ltd

Leisurebench Ltd (Registered number: 05273230)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Leisurebench Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S Musson
S Patel





REGISTERED OFFICE: Old Wharf Road
Grantham
Lincolnshire
NG31 7AA





REGISTERED NUMBER: 05273230 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Leisurebench Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leisurebench Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Leisurebench Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leisurebench Ltd and state those matters that we have agreed to state to the Board of Directors of Leisurebench Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leisurebench Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leisurebench Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leisurebench Ltd. You consider that Leisurebench Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leisurebench Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


14 January 2025

Leisurebench Ltd (Registered number: 05273230)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 378,681 457,140

CURRENT ASSETS
Stocks 2,116,685 2,553,463
Debtors 5 1,046,055 1,127,752
Cash at bank and in hand 472,655 194,490
3,635,395 3,875,705
CREDITORS
Amounts falling due within one year 6 1,157,184 1,087,092
NET CURRENT ASSETS 2,478,211 2,788,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,856,892

3,245,753

CREDITORS
Amounts falling due after more than
one year

7

(293,200

)

(371,520

)

PROVISIONS FOR LIABILITIES (97,343 ) (114,285 )
NET ASSETS 2,466,349 2,759,948

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 2,456,349 2,749,948
SHAREHOLDERS' FUNDS 2,466,349 2,759,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Leisurebench Ltd (Registered number: 05273230)

Balance Sheet - continued
30 September 2024


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 Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





S Musson - Director


Leisurebench Ltd (Registered number: 05273230)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Leisurebench Ltd 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.

Turnover is recognised when the goods are physically delivered to the customer, with the exception of contracted sales which are recognised upon receipt of monies from the customer. This is on the basis that Leisurebench Limited is storing the goods on behalf of the customer who calls them off as and when required.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Stock valuations include the cost of delivery of the goods charged to the company.

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 balance sheet date.


Leisurebench Ltd (Registered number: 05273230)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a sum of digits basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 40 ) .

Leisurebench Ltd (Registered number: 05273230)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 301,937 112,725 342,642 27,240 784,544
Additions 16,788 21,733 - 3,763 42,284
At 30 September 2024 318,725 134,458 342,642 31,003 826,828
DEPRECIATION
At 1 October 2023 124,345 55,186 127,210 20,663 327,404
Charge for year 46,598 15,691 53,857 4,597 120,743
At 30 September 2024 170,943 70,877 181,067 25,260 448,147
NET BOOK VALUE
At 30 September 2024 147,782 63,581 161,575 5,743 378,681
At 30 September 2023 177,592 57,539 215,432 6,577 457,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 706,624 619,036
Amounts owed by group undertakings 32,052 32,538
Other debtors 72,675 305,396
Corporation tax 60,779 -
Prepayments and accrued income 173,925 170,782
1,046,055 1,127,752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 412,633 209,831
Hire purchase contracts 18,415 77,127
Payments on account 16,969 14,912
Trade creditors 231,184 184,859
Amounts owed to group undertakings 144,817 144,007
Corporation tax - 60,779
Social security and other taxes 26,063 24,225
VAT 228,472 167,758
Other creditors 7,264 20,132
Accruals and deferred income 44,002 142,415
Deferred government grants 27,365 41,047
1,157,184 1,087,092

Leisurebench Ltd (Registered number: 05273230)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 146,608 127,059
Bank loans - 2-5 years 146,592 222,353
Hire purchase contracts - 22,108
293,200 371,520

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 18,415 99,235
HSBC Euro Facility 292,191 -
HSBC US Dollar Facility 10,475 -
321,081 99,235

Assets financed on hire purchase are secured on the asset to which they relate.

The HSBC foreign currency facilities are secured by a fixed and floating charge over the company assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £717,834 (2023 £899,833).

Leisurebench Ltd (Registered number: 05273230)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
S Musson
Balance outstanding at start of year - -
Amounts advanced - 15,000
Amounts repaid - (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -