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Sage Accounts Production 24.0 - FRS102_2023
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Company registration number:
8094980
The Little Blackpool Leisure Company Ltd
Unaudited filleted financial statements
31 December 2024
The Little Blackpool Leisure Company Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
The Little Blackpool Leisure Company Ltd
Directors and other information
|
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|
Directors |
J A Lucas |
|
|
A D Shields |
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|
J A Whittington |
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Company number |
8094980 |
|
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|
|
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Registered office |
14 Edward Street |
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|
Blackpool |
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Lancs |
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FY1 1BA |
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Accountants |
Turner and Brown Limited |
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105 Garstang Road |
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Preston |
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Lancs |
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PR1 1LD |
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The Little Blackpool Leisure Company Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of The Little Blackpool Leisure Company Ltd
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Little Blackpool Leisure Company Ltd for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of The Little Blackpool Leisure Company Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Little Blackpool Leisure Company Ltd and state those matters that we have agreed to state to the board of directors of The Little Blackpool Leisure Company Ltd as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Little Blackpool Leisure Company Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Little Blackpool Leisure Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Little Blackpool Leisure Company Ltd. You consider that The Little Blackpool Leisure Company Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Little Blackpool Leisure Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Turner and Brown Limited
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
The Little Blackpool Leisure Company Ltd
Statement of financial position
31 December 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
100,602 |
|
|
|
127,624 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
100,602 |
|
|
|
127,624 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
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Stocks |
|
|
29,238 |
|
|
|
8,000 |
|
|
|
Debtors |
|
6 |
175,304 |
|
|
|
155,043 |
|
|
|
Cash at bank and in hand |
|
|
110,426 |
|
|
|
20,422 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
314,968 |
|
|
|
183,465 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
600,192) |
|
|
|
(
584,294) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current liabilities |
|
|
|
|
(
285,224) |
|
|
|
(
400,829) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
(
184,622) |
|
|
|
(
273,205) |
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|
|
|
|
|
|
|
|
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|
Creditors: amounts falling due |
|
|
|
|
|
|
|
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|
after more than one year |
|
8 |
|
|
(
92,677) |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net liabilities |
|
|
|
|
(
277,299) |
|
|
|
(
273,205) |
|
|
|
|
|
_______ |
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|
_______ |
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Capital and reserves |
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|
Called up share capital |
|
|
|
|
500 |
|
|
|
500 |
|
Profit and loss account |
|
|
|
|
(
277,799) |
|
|
|
(
273,705) |
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|
|
|
|
_______ |
|
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|
_______ |
|
Shareholders deficit |
|
|
|
|
(
277,299) |
|
|
|
(
273,205) |
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|
|
|
|
_______ |
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_______ |
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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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 May 2025
, and are signed on behalf of the board by:
J A Lucas
Director
Company registration number:
8094980
The Little Blackpool Leisure Company Ltd
Notes to the financial statements
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Edward Street, Blackpool, Lancs, FY1 1BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts show net liabilities of £277,299 with losses sustained in the year. This has been financed by companies under the control of the directors and it is necessary for this financial support to continue in order for the company to continue to trade. In the opinion of the directors this support will be continuing and as a result these accounts have been prepared on a going concern basis. Also of note is that this period the accounts show a large investment in the set up of a new business which is now trading profitably but initially showed losses in the set up phase. As a result it is expected that the company will trade profitably moving forward.
Turnover
Turnover is measured as the consideration received and receivable for services rendered and goods supplied net of any Value Added Tax and discounts. Revenue is recognised as and when the company becomes legally entitled to receive the income. For the hospitality businesses this is usually the point of sale. For any income due from tenants this is recognised for the period to which the rental and services cover with any unpaid amounts at that point being recorded within trade debtors.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
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|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
37
(2023:
27
).
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2024 |
27,646 |
155,568 |
183,214 |
|
|
|
|
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Additions |
1,220 |
5,292 |
6,512 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
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|
|
|
|
At 31 December 2024 |
28,866 |
160,860 |
189,726 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2024 |
8,791 |
46,799 |
55,590 |
|
|
|
|
|
Charge for the year |
5,019 |
28,515 |
33,534 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2024 |
13,810 |
75,314 |
89,124 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2024 |
15,056 |
85,546 |
100,602 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
18,855 |
108,769 |
127,624 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
19,575 |
55,055 |
|
Other debtors |
|
155,729 |
99,988 |
|
|
|
_______ |
_______ |
|
|
|
175,304 |
155,043 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
14,223 |
- |
|
Trade creditors |
|
106,751 |
151,741 |
|
Social security and other taxes |
|
195,270 |
128,545 |
|
Other creditors |
|
283,948 |
304,008 |
|
|
|
_______ |
_______ |
|
|
|
600,192 |
584,294 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
92,677 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
| Not later than 1 year |
3,558 |
4,965 |
| Later than 1 year and not later than 5 years |
157 |
4,058 |
|
_______ |
_______ |
|
3,715 |
9,023 |
|
_______ |
_______ |
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
J A Lucas |
(
4,071) |
7,150 |
(
1,064) |
2,015 |
|
|
|
A D Shields |
- |
- |
(
64) |
(
64) |
|
|
|
J A Whittington |
53 |
- |
(
64) |
(
11) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
4,018) |
7,150 |
(
1,192) |
1,940 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
These loans are interest free and repayable on demand. |
|
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|
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|