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Registration number: 02095635

Cresta Leisure Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Cresta Leisure Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Cresta Leisure Limited

Company Information

Directors

Mr ST Bareham

Mrs N J Bareham

Company secretary

Ms L Astrid

Registered office

10 South Street
Bridport
Dorset
DT6 3NJ

Accountants

M W Burrough & Co
Chartered Accountants10 South Street
Bridport
Dorset
DT6 3NJ

 

Cresta Leisure Limited

(Registration number: 02095635)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144,883

112,169

Other financial assets

5

3,050

3,050

 

147,933

115,219

Current assets

 

Stocks

6

103,755

141,698

Debtors

7

142,895

137,110

Cash at bank and in hand

 

564,849

543,065

 

811,499

821,873

Creditors: Amounts falling due within one year

8

(277,438)

(409,663)

Net current assets

 

534,061

412,210

Total assets less current liabilities

 

681,994

527,429

Creditors: Amounts falling due after more than one year

8

(24,165)

(34,643)

Provisions for liabilities

(21,312)

(21,312)

Net assets

 

636,517

471,474

Capital and reserves

 

Called up share capital

9

5,004

9,100

Capital redemption reserve

4,096

-

Retained earnings

627,417

462,374

Shareholders' funds

 

636,517

471,474

For the financial year ending 31 October 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 Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

.........................................
Mr ST Bareham
Director

 

Cresta Leisure Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 November 2023

9,100

-

462,375

471,475

Profit for the year

-

-

342,422

342,422

Dividends

-

-

(33,300)

(33,300)

Purchase of own share capital

(4,096)

-

(144,080)

(148,176)

Other capital redemption reserve movements

-

4,096

-

4,096

At 31 October 2024

5,004

4,096

627,417

636,517

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

9,100

336,301

345,401

Profit for the year

-

126,073

126,073

At 31 October 2023

9,100

462,374

471,474

 

Cresta Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
10 South Street
Bridport
Dorset
DT6 3NJ
United Kingdom

The principal place of business is:
Railway Triangle
Poundbury road
Dorchester
DT1 2PJ

These financial statements were authorised for issue by the Board on 2 April 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 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.

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.

 

Cresta Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vehicles

25% on reducing balance

Other tangible assets

15% on 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. Cost is determined using the first-in, first-out (FIFO) method.

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.

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 profit and loss account 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.

 

Cresta Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 21 (2023 - 18).

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

27,989

96,587

186,021

310,597

Additions

-

7,657

86,030

93,687

Disposals

-

-

(43,664)

(43,664)

At 31 October 2024

27,989

104,244

228,387

360,620

Depreciation

At 1 November 2023

27,989

64,566

105,873

198,428

Charge for the year

-

5,952

29,878

35,830

Eliminated on disposal

-

-

(18,521)

(18,521)

At 31 October 2024

27,989

70,518

117,230

215,737

Carrying amount

At 31 October 2024

-

33,726

111,157

144,883

At 31 October 2023

-

32,021

80,148

112,169

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

Cresta Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2023

3,050

3,050

At 31 October 2024

3,050

3,050

Impairment

Carrying amount

At 31 October 2024

3,050

3,050

6

Stocks

2024
£

2023
£

Raw materials and consumables

98,286

99,938

Work in progress

5,469

41,760

103,755

141,698

7

Debtors

Current

2024
£

2023
£

Trade debtors

141,984

137,110

Other debtors

911

-

 

142,895

137,110

 

Cresta Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

109,596

313,561

Taxation and social security

159,478

77,244

Accruals and deferred income

6,600

6,000

Other creditors

1,764

12,858

277,438

409,663

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

24,165

34,643

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

6,825

6,825

6,825

6,825

B Ordinary of £1 each

2,275

2,275

2,275

2,275

9,100

9,100

9,100

9,100