Caseware UK (AP4) 2023.0.135 2023.0.135 22023-05-01falsethe sale of leisure goods and dealers in second hand motor vehicles2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05997982 2023-05-01 2024-04-30 05997982 2022-05-01 2023-04-30 05997982 2024-04-30 05997982 2023-04-30 05997982 c:Director1 2023-05-01 2024-04-30 05997982 d:PlantMachinery 2023-05-01 2024-04-30 05997982 d:PlantMachinery 2024-04-30 05997982 d:PlantMachinery 2023-04-30 05997982 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05997982 d:FurnitureFittings 2023-05-01 2024-04-30 05997982 d:FurnitureFittings 2024-04-30 05997982 d:FurnitureFittings 2023-04-30 05997982 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05997982 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05997982 d:CurrentFinancialInstruments 2024-04-30 05997982 d:CurrentFinancialInstruments 2023-04-30 05997982 d:Non-currentFinancialInstruments 2024-04-30 05997982 d:Non-currentFinancialInstruments 2023-04-30 05997982 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 05997982 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05997982 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 05997982 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 05997982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 05997982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 05997982 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 05997982 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 05997982 d:ShareCapital 2024-04-30 05997982 d:ShareCapital 2023-04-30 05997982 d:RetainedEarningsAccumulatedLosses 2024-04-30 05997982 d:RetainedEarningsAccumulatedLosses 2023-04-30 05997982 c:FRS102 2023-05-01 2024-04-30 05997982 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05997982 c:FullAccounts 2023-05-01 2024-04-30 05997982 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05997982 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 05997982





 
Leisure Shop Limited          
 
Financial statements          

For the year ended 30 April 2024          

 
Leisure Shop Limited
Registered number:05997982

Balance sheet
As at 30 April 2024


2024 

2023 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
28,134
6,396

Current assets
  

Stock
  
831,903
795,993

Debtors
 5 
28,223
21,031

Cash at bank
  
1,613
9,523

  
861,739
826,547

Creditors: amounts falling due within one year
 6 
(830,318)
(719,173)

Net current assets
  
 
 
31,421
 
 
107,374

Total assets less current liabilities
  
59,555
113,770

Creditors: amounts falling due after more than one year
 7 
(57,248)
(81,796)

  

Net assets
  
2,307
31,974


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,207
31,874

  
2,307
31,974


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 28 April 2025.

Heather Tarrant
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
Leisure Shop Limited
 
 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

Leisure Shop Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ and its principal place of business is Highwood Road, Chelmsford, Essex, CM1 3QS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 
Leisure Shop Limited
 
 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either the straight line basis or the reducing balance basis.

Depreciation is provided at the following rate:

Energy saving equipment
-
5%
straight line
Equipment, fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stock is assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
Leisure Shop Limited
 
 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Energy saving equipment
Equipment, fixtures and fittings
Total

£
£
£



Cost 


At 1 May 2023
-
30,036
30,036


Additions
24,000
715
24,715



At 30 April 2024

24,000
30,751
54,751



Depreciation


At 1 May 2023
-
23,640
23,640


Charge for the year
1,200
1,777
2,977



At 30 April 2024

1,200
25,417
26,617



Net book value



At 30 April 2024
22,800
5,334
28,134



At 30 April 2023
-
6,396
6,396

Page 4

 
Leisure Shop Limited
 
 
Notes to the financial statements
For the year ended 30 April 2024

5.


Debtors

2024
2023
£
£


Corporation tax repayable
473
451

Prepayments and accrued income
27,750
20,580

28,223
21,031



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
3,470
4,679

Bank loans
23,362
28,854

Trade creditors
75,364
79,305

Other taxation and social security
12,770
16,611

Other creditors
710,832
585,204

Accruals and deferred income
4,520
4,520

830,318
719,173



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
57,248
81,796


Page 5

 
Leisure Shop Limited
 
 
Notes to the financial statements
For the year ended 30 April 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
23,362
28,854

Amounts falling due 1-2 years

Bank loans
23,089
24,573

Amounts falling due 2-5 years

Bank loans
34,159
57,224


80,610
110,651


The company has three bank loans. The first loan is subject to an effective interest rate of 7.09% and is repayable by
monthly installments. The second bank loan is unsecured, carries interest at a fixed rate of 2.5% per annum and is
repayable by 60 monthly installments commencing May 2021. The third bank loan is unsecured, carries interest at a fixed rate of 8.25% per annum and is repayable by monthly installments. 

 
Page 6