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Registered number: 01231316
W.G.W. Leisure Enterprises (Sawbridgeworth) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 01231316
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 210,000 210,000
210,000 210,000
CURRENT ASSETS
Cash at bank and in hand 18,747 17,119
18,747 17,119
Creditors: Amounts Falling Due Within One Year 5 (16,094 ) (17,272 )
NET CURRENT ASSETS (LIABILITIES) 2,653 (153 )
TOTAL ASSETS LESS CURRENT LIABILITIES 212,653 209,847
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,829 ) (17,829 )
NET ASSETS 194,824 192,018
CAPITAL AND RESERVES
Called up share capital 6 2 2
Revaluation reserve 8 152,558 152,558
Profit and Loss Account 42,264 39,458
SHAREHOLDERS' FUNDS 194,824 192,018
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Freeman
Director
30th April 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
W.G.W. Leisure Enterprises (Sawbridgeworth) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01231316 . The registered office is 11 Russell Road, Buckhurst Hill, Essex, IG9 5QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Other operating income represents the total invoice value, excluding value added tax, of rents receivable during the year.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 January 2024 210,000
As at 31 December 2024 210,000
Net Book Value
As at 31 December 2024 210,000
As at 1 January 2024 210,000
The valuation of land and buildings has been arrived at on the basis of a valuation on an open market basis.
Page 2
Page 3
If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
Land & Property
Freehold
£
At cost 39,613
At valuation 170,387
210,000
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 15,270 16,818
Taxation and social security 824 454
16,094 17,272
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mrs Amanda Freeman (12,347 ) 60 (153 ) - (12,440 )
The above loan is unsecured, interest free and repayable on demand.
8. Reserves
Revaluation Reserve
£
As at 1 January 2024 152,558
As at 31 December 2024 152,558
Page 3