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Registration number: 04294869

Wroxham Leisure Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Wroxham Leisure Limited

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Wroxham Leisure Limited

Company Information

Directors

Mr MJ Grey

Mrs AJ Grey

Mr CH Sillis

Company secretary

Mrs AJ Grey

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Wroxham Leisure Limited

(Registration number: 04294869)
Statement of financial position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

436,772

447,569

Current assets

 

Stocks

5

3,000

3,000

Debtors

6

46,224

28,939

Cash at bank and in hand

 

242,535

228,086

 

291,759

260,025

Creditors: Amounts falling due within one year

7

(154,853)

(144,081)

Net current assets

 

136,906

115,944

Total assets less current liabilities

 

573,678

563,513

Creditors: Amounts falling due after more than one year

7

(5,832)

(15,833)

Provisions for liabilities

(6,082)

(8,198)

Net assets

 

561,764

539,482

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

561,762

539,480

Shareholders' funds

 

561,764

539,482

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mr MJ Grey
Director

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 14 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Not depreciated

Arcade building

2% straight line

Plant and machinery

20% straight line

Fixtures fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 6).

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

468,831

179,872

21,000

669,703

At 30 November 2024

468,831

179,872

21,000

669,703

Depreciation

At 1 December 2023

48,506

163,580

10,048

222,134

Charge for the year

2,331

5,728

2,738

10,797

At 30 November 2024

50,837

169,308

12,786

232,931

Carrying amount

At 30 November 2024

417,994

10,564

8,214

436,772

At 30 November 2023

420,325

16,292

10,952

447,569

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

3,000

3,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

16,218

5,552

Prepayments

24,669

23,387

Other debtors

5,337

-

 

46,224

28,939

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

40,078

34,387

Amounts due to related parties

9

56,562

60,524

Social security and other taxes

 

26,454

19,771

Outstanding defined contribution pension costs

 

98

-

Accruals

 

4,423

7,574

Tax liability

17,238

11,825

 

154,853

144,081

Due after one year

 

Loans and borrowings

5,832

15,833

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

2

2

2

2

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

Wroxham Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Related party transactions

Transactions with directors

2024

Income Received
£

At 30 November 2024
£

Mrs AJ Grey

Rent received from sole trader business

6,667

6,667

     
   

 

2023

Income Received
£

At 30 November 2023
£

Mrs AJ Grey

Rent received from sole trader business

5,000

5,000