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Registration number: 10661392

Linzee Leisure Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 September 2024

 

Linzee Leisure Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Linzee Leisure Limited

Company Information

Directors

Ms Victoria Osborne

Mr Philip Harnett

Registered office

Meadfoot Bay Hotel
Meadfoot Sea Road
Torquay
TQ1 2LQ

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Linzee Leisure Limited

(Registration number: 10661392)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

10,000

Tangible assets

5

-

80,820

 

-

90,820

Current assets

 

Debtors

6

8,723

6,446

Cash at bank and in hand

 

4,861

132,286

 

13,584

138,732

Creditors: Amounts falling due within one year

7

(218,112)

(195,662)

Net current liabilities

 

(204,528)

(56,930)

Total assets less current liabilities

 

(204,528)

33,890

Creditors: Amounts falling due after more than one year

7

-

(80,000)

Net liabilities

 

(204,528)

(46,110)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(204,628)

(46,210)

Shareholders' deficit

 

(204,528)

(46,110)

For the financial period ending 30 September 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 period 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 4 April 2025 and signed on its behalf by:
 

 

Linzee Leisure Limited

(Registration number: 10661392)
Balance Sheet as at 30 September 2024

.........................................
Ms Victoria Osborne
Director

 

Linzee Leisure Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

1

General information

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

The address of its registered office is:
Meadfoot Bay Hotel
Meadfoot Sea Road
Torquay
TQ1 2LQ
England

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.

Going concern

The directors have prepared the financial statements on a break up basis. The company ceased to trade two years ago and there are no plans to recommence trading activities. It is the intention of the directors to close down the company in an orderly fashion within the next 12 months and have committed themselves to support the company until that time.

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 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.

 

Linzee Leisure Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Fixtures and fittings

25% reducing balance

Plant and machinery

10% straight line

Office equipment

40% straight line/ 25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

 

Linzee Leisure Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

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.

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.

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.

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 period, was 2 (2023 - 15).

 

Linzee Leisure Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

25,000

25,000

At 30 September 2024

25,000

25,000

Amortisation

At 1 April 2023

15,000

15,000

Amortisation charge

3,750

3,750

Impairment

6,250

6,250

At 30 September 2024

25,000

25,000

Carrying amount

At 30 September 2024

-

-

At 31 March 2023

10,000

10,000

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

88,477

129,851

218,328

At 30 September 2024

88,477

129,851

218,328

Depreciation

At 1 April 2023

49,990

87,518

137,508

Charge for the period

15,186

19,478

34,664

Impairment

23,301

22,855

46,156

At 30 September 2024

88,477

129,851

218,328

Carrying amount

At 30 September 2024

-

-

-

At 31 March 2023

38,487

42,333

80,820

6

Debtors

 

Linzee Leisure Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

2024
£

2023
£

Other debtors

95

-

Prepayments and accrued income

8,628

6,446

Total current trade and other debtors

8,723

6,446

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

6,353

13,515

Taxation and social security

-

11,641

Other creditors

210,098

159,229

Accrued expenses

1,661

11,277

218,112

195,662

2024
£

2023
£

Due after one year

Other non-current financial liabilities

-

80,000