| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ESP LEISURE LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ESP LEISURE LIMITED |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ESP LEISURE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| Unit 4 Mulgrave Chambers |
| 26-28 Mulgrave Road |
| Sutton |
| Surrey |
| SM2 6LE |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| ESP Leisure Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts. |
| The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements. |
| Revenue recognition |
| 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 for the development and sale of computer systems for sports and leisure activities, which are comprised of goods and services, net of returns, discounts and value added taxes. |
| The following criteria must also be met before revenue is recognised: |
| Sales 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. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Depreciation is charged from the month of acquisition. |
| Stocks |
| Stock is stated at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised. |
| Cost is determined on a first in first out basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition. |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Research and development |
| Expenditure on research and development is recognised as an expense in the year in which it is incurred. |
| Employee benefits |
| The company provides a range of benefits to employees, including paid holiday arrangements and a defined contribution pension plan. |
| (i) Short term benefits |
| Short term benefits including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is provided. |
| (ii) Employee pension arrangements |
| The company operate a fully compliant workplace pension and defined contribution pension scheme. This is a pension plan under which the company pays fixed contributions in to separate entities. Once the contributions have been paid the company has no further obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds. |
| Operating leases |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Deferred tax asset |
| Decelerated capital allowances |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT |
| Other creditors |
| Directors' current accounts |
| Accruals and deferred income |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| Amounts shown relate to the full amounts left payable in accordance with the lease. |
| ESP LEISURE LIMITED (REGISTERED NUMBER: 02550976) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 9. | DEFERRED TAX |
| £ |
| Balance at 1 January 2024 | ( |
) |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 December 2024 | ( |
) |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,969 (2023 - £11,881). Contributions totalling £2,536 (2023 - £2,363) were payable to the fund at the Balance Sheet date. |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Advances to the director were repayable on demand and subject to interest at HMRC's official rate. Interest of £809 (2023 - £Nil) was paid in the year. |
| 13. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed its directors £2,520 (2023 - £4,198). Loan interest of £38 (2023 - £39) has been paid in the year. The amount carries no fixed term of repayment. |
| The director D A Ross is trustee of the Kimpton Pension Fund. During the financial year the company was charged rent of £55,000 (2023 - £55,000) by the Kimpton Pension Fund. |
| During the financial year an advance of £200,000 (2023 - £Nil) was made to a participator. The advance was repaid in full before the balance sheet date. Interest of £2,000 (2023 - £Nil) was paid to the company in respect of the advance. |