Registered number
03629515
Hi-5 Corporate Leisure Ltd
Filleted Accounts
31 March 2025
Goldsmith BALL
a c c o u n t a n t s
Harwell Innovation Centre, 173 Curie Avenue, Harwell Science and Innovation Campus,
Didcot, Oxfordshire OX11 0QG
Hi-5 Corporate Leisure Ltd
Registered number: 03629515
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 28,559 31,681
Current assets
Stocks 2,500 2,500
Debtors 4 19,316 11,545
Cash at bank and in hand - 6,575
21,816 20,620
Creditors: amounts falling due within one year 5 (49,031) (42,628)
Net current liabilities (27,215) (22,008)
Total assets less current liabilities 1,344 9,673
Creditors: amounts falling due after more than one year 6 (1,171) (9,466)
Net assets 173 207
Capital and reserves
Called up share capital 100 100
Profit and loss account 73 107
Shareholders' funds 173 207
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A. Lewis
Director
Approved by the board on 28 May 2025
Hi-5 Corporate Leisure Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Event equipment 25% reducing balance
Computer and office equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Event equipment Computer and office equipment Total
£ £ £
Cost
At 1 April 2024 99,006 2,233 101,239
Additions 6,027 - 6,027
At 31 March 2025 105,033 2,233 107,266
Depreciation
At 1 April 2024 67,594 1,964 69,558
Charge for the year 8,880 269 9,149
At 31 March 2025 76,474 2,233 78,707
Net book value
At 31 March 2025 28,559 - 28,559
At 31 March 2024 31,412 269 31,681
4 Debtors 2025 2024
£ £
Trade debtors 9,240 6,904
Prepayments - 4,039
Other debtors 10,076 602
19,316 11,545
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 23,277 10,440
Trade creditors 560 2,368
Taxation and social security costs 25,194 27,638
Other creditors - 2,182
49,031 42,628
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 1,171 9,466
7 Other information
Hi-5 Corporate Leisure Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Reading Lakes Hotel
Pingewood
Reading
Berks
RG30 3UN
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