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REGISTERED NUMBER: 07281746 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 June 2024

for

55 Leisure (Tynemouth) Ltd

55 Leisure (Tynemouth) Ltd (Registered number: 07281746)






Contents of the Financial Statements
for the Year Ended 29 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


55 Leisure (Tynemouth) Ltd

Company Information
for the Year Ended 29 June 2024







DIRECTORS: Mrs L C Sample
Mr P Sample





REGISTERED OFFICE: Lola Jeans The Arcade
Tynemouth
North Shields
NE30 4BS





REGISTERED NUMBER: 07281746 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

55 Leisure (Tynemouth) Ltd (Registered number: 07281746)

Balance Sheet
29 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 132,150 142,922

CURRENT ASSETS
Stocks 8,202 11,670
Debtors 6 153,605 165,358
Cash at bank and in hand 77,195 72,838
239,002 249,866
CREDITORS
Amounts falling due within one year 7 (189,636 ) (178,128 )
NET CURRENT ASSETS 49,366 71,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,516

214,660

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 181,416 214,560
181,516 214,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mr P Sample - Director


55 Leisure (Tynemouth) Ltd (Registered number: 07281746)

Notes to the Financial Statements
for the Year Ended 29 June 2024

1. STATUTORY INFORMATION

55 Leisure (Tynemouth) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from bar and restaurant sales, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities and 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.

Current and deferred tax assets and liabilities are not discounted.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

55 Leisure (Tynemouth) Ltd (Registered number: 07281746)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

3. ACCOUNTING POLICIES - continued

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 30 June 2023 128,887 142,814 271,701
Additions - 1,506 1,506
At 29 June 2024 128,887 144,320 273,207
DEPRECIATION
At 30 June 2023 33,442 95,337 128,779
Charge for year 5,156 7,122 12,278
At 29 June 2024 38,598 102,459 141,057
NET BOOK VALUE
At 29 June 2024 90,289 41,861 132,150
At 29 June 2023 95,445 47,477 142,922

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 153,605 165,358

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 4,114
Trade creditors 23,309 20,803
Taxation and social security 67,251 133,057
Other creditors 99,076 20,154
189,636 178,128

55 Leisure (Tynemouth) Ltd (Registered number: 07281746)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 June 2024 and 29 June 2023:

2024 2023
£    £   
Mr P Sample
Balance outstanding at start of year 10,056 3,306
Amounts advanced 50,042 46,750
Amounts repaid (60,098 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,056

The above loan is unsecured, interest free and repayable on demand.