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REGISTERED NUMBER: 02581189 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

SUMMIT LEISURE (DEANSGATE) LIMITED

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUMMIT LEISURE (DEANSGATE) LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: K Shaw
A Shaw
Miss T Shaw



SECRETARY: Miss T Shaw



REGISTERED OFFICE: Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT



REGISTERED NUMBER: 02581189 (England and Wales)



ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT



BANKERS: Barclays Bank Plc
1st Floor
3 Hardman Street
Spinningfields
Manchester
M3 3HF



SOLICITORS: Kippax Beaumont Lewis
28 Mawdsley Street
Bolton
BL1 1LF

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 350,000 350,000
Tangible assets 5 5,620,762 5,515,226
5,970,762 5,865,226

CURRENT ASSETS
Stocks 6 13,095 20,837
Debtors 7 2,209,925 2,205,901
Cash at bank and in hand 3,220,198 2,288,729
5,443,218 4,515,467
CREDITORS
Amounts falling due within one year 8 (5,583,484 ) (4,664,589 )
NET CURRENT LIABILITIES (140,266 ) (149,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,830,496

5,716,104

PROVISIONS FOR LIABILITIES (192,255 ) (169,084 )
NET ASSETS 5,638,241 5,547,020

CAPITAL AND RESERVES
Called up share capital 1,100,106 1,100,106
Share premium 363,698 363,698
Retained earnings 4,174,437 4,083,216
SHAREHOLDERS' FUNDS 5,638,241 5,547,020

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

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

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Balance Sheet - continued
31 JULY 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 11 March 2025 and were signed on its behalf by:




A Shaw - Director



K Shaw - Director


SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Summit Leisure (Deansgate) 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 preparation
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.

The financial statements have been prepared on a going concern basis, based on the continued financial support to be given to the company from its dirctors, related trading parties and its bankers.


Goodwill
Purchased goodwill in relation to the freehold property to which it relates is stated in the company's balance sheet on a cost basis. In the opinion of the company's directors it is not appropriate to amortise the purchased goodwill in relation to freehold property. This is not in accordance with FRS No.10. The directors are satisfied that no impairment has occurred in relation to the value of the purchased goodwill relating to freehold property. Purchased goodwill relating to leasehold property is amortised over the period of the lease of the property i.e. over six years.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Short leasehold - Over lease term
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

No depreciation is provided in respect of freehold buildings which is not in accordance with FRS No 15 "Tangible Fixed Assets". The directors are of the opinion that the open market valuation of the company's freehold land and buildings is in excess of their original cost. In the absence of a professional valuation the director is unable to quantify the excess. In the opinion of the directors there has been no impairment in relation to the company's freehold land and buildings.


Stocks
Stock is valued at the lower of cost and net realisable value, based on directors estimates.


SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Leased assets
Assets held under finance leases and hire purchase contracts and the related obligations are recorded in the balance sheet at the fair value of the assets at the inception of the contract. The amounts by which the payments exceed the recorded obligations are treated as finance charges which are amortised over the lease terms to give a constant rate of charge on the remaining balance of the obligation.

Operating lease commitments are provided for in the balance sheet at the time the rental payments fall due. Such rental costs are charged to the profit and loss account as incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribuion pension scheme on behalf of the directors. The assets of the scheme are held seperately from those of the company within independently administered funds. The pension scheme charge represents contributions payable by the company in accordance with the rules of the scheme.

The charge to the financial statements includes payments during the year, there being no provision for outstanding liabilities at the balance sheet date.


Turnover
Turnover is mainly derived from takings subject to Machine Games Duty.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 38 ) .

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 354,499
AMORTISATION
At 1 August 2023
and 31 July 2024 4,499
NET BOOK VALUE
At 31 July 2024 350,000
At 31 July 2023 350,000

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 4,505,400 82,112 4,267,100 22,545 8,877,157
Additions - - 273,348 - 273,348
At 31 July 2024 4,505,400 82,112 4,540,448 22,545 9,150,505
DEPRECIATION
At 1 August 2023 - 53,422 3,286,129 22,380 3,361,931
Charge for year - - 167,647 165 167,812
At 31 July 2024 - 53,422 3,453,776 22,545 3,529,743
NET BOOK VALUE
At 31 July 2024 4,505,400 28,690 1,086,672 - 5,620,762
At 31 July 2023 4,505,400 28,690 980,971 165 5,515,226

6. STOCKS
2024 2023
£    £   
Stocks 13,095 20,837

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,500 17,650
Other debtors 4,184 5,628
Due from related companies 2,115,000 2,100,000
Prepayments and accrued income 81,241 82,623
2,209,925 2,205,901

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 246,704 180,299
Tax 5,857 -
Social security and other taxes 129,552 122,939
Other creditors 91,333 90,565
Due to related companies 5,105,290 4,024,770
Directors' current accounts 954 49,693
Accrued expenses 3,794 196,323
5,583,484 4,664,589

The directors' current accounts are interest free and repayable on demand.


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

SUMMIT LEISURE (DEANSGATE) LIMITED (REGISTERED NUMBER: 02581189)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

10. RELATED PARTY DISCLOSURES

Mr A Shaw, Mr K C Shaw and Miss T Shaw are directors in Summit Leisure (Market Street) Limited, Summit Leisure (Swinton) Limited, Prospector Group Limited and K Shaw and Sons Limited.

Mr K C Shaw is the director and owner of the business Summit Leisure (KC) Limited.

At 31 July 2024 the amounts owed from/(to) parties under common control were as follows:
2024 2023
£ £
Summit Leisure (Market Street)Limited (1,015,895 ) (920,951 )

Summit Leisure (Swinton) Limited (1,438,635 ) (1,318,507 )

Summit Leisure (KC) Limited (871,092 ) (759,882 )

K Shaw and Sons Limited (1,779,668) (1,025,530)

Prospector Group limited 2,115,000 £2,100,000










11. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors.