Company Registration No. 14102328 (England and Wales)
WOLD VIEW LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
WOLD VIEW LEISURE LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 12
WOLD VIEW LEISURE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,438
3,870
Tangible assets
4
2,807,693
2,243,873
2,811,131
2,247,743
Current assets
Stocks
279,253
-
Debtors
5
100,997
6,495
Cash at bank and in hand
73,455
70,049
453,705
76,544
Creditors: amounts falling due within one year
6
(1,294,908)
(751,610)
Net current liabilities
(841,203)
(675,066)
Total assets less current liabilities
1,969,928
1,572,677
Creditors: amounts falling due after more than one year
7
(1,127,474)
(1,148,593)
Provisions for liabilities
(212,000)
(137,000)
Net assets
630,454
287,084
Capital and reserves
Called up share capital
100
100
Revaluation reserve
637,604
412,604
Profit and loss reserves
(7,250)
(125,620)
Total equity
630,454
287,084
WOLD VIEW LEISURE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 4 June 2025 and are signed on its behalf by:
Mr J Reynard
Director
Company registration number 14102328 (England and Wales)
WOLD VIEW LEISURE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 February 2023
100
-
0
(61,938)
(61,838)
Year ended 31 January 2024:
Loss
-
-
(63,682)
(63,682)
Other comprehensive income:
Revaluation of tangible fixed assets
-
549,604
-
549,604
Tax relating to other comprehensive income
-
(137,000)
-
0
(137,000)
Total comprehensive income
-
412,604
(63,682)
348,922
Balance at 31 January 2024
100
412,604
(125,620)
287,084
Year ended 31 January 2025:
Profit
-
-
118,370
118,370
Other comprehensive income:
Revaluation of tangible fixed assets
-
300,000
-
300,000
Tax relating to other comprehensive income
-
(75,000)
-
0
(75,000)
Total comprehensive income
-
225,000
118,370
343,370
Balance at 31 January 2025
100
637,604
(7,250)
630,454
WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information

Wold View Leisure Limited is a private company limited by shares incorporated in England and Wales. The registered office is Akebar Park, Akebar, Leyburn, North Yorkshire, DL8 5LY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
10% Straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% Straight line and not depreciated
Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Reducing balance
Computers
33% Reducing balance
Motor vehicles
25% Reducing balance
Hire Fleet  Lodges
2% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 6 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
8
WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
3
Intangible fixed assets
Website
£
Cost
At 1 February 2024 and 31 January 2025
4,320
Amortisation and impairment
At 1 February 2024
450
Amortisation charged for the year
432
At 31 January 2025
882
Carrying amount
At 31 January 2025
3,438
At 31 January 2024
3,870
WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Hire Fleet  Lodges
Total
£
£
£
£
£
£
£
Cost
At 1 February 2024
1,449,728
55,635
49,576
1,837
-
0
740,700
2,297,476
Additions
270,132
130,770
1,030
-
0
3,000
79,900
484,832
Disposals
-
0
-
0
-
0
-
0
-
0
(167,973)
(167,973)
Revaluation
300,000
-
0
-
0
-
0
-
0
-
0
300,000
At 31 January 2025
2,019,860
186,405
50,606
1,837
3,000
652,627
2,914,335
Depreciation and impairment
At 1 February 2024
10,347
10,842
10,169
556
-
0
21,689
53,603
Depreciation charged in the year
12,139
24,414
8,046
427
313
14,107
59,446
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(6,407)
(6,407)
At 31 January 2025
22,486
35,256
18,215
983
313
29,389
106,642
Carrying amount
At 31 January 2025
1,997,374
151,149
32,391
854
2,687
623,238
2,807,693
At 31 January 2024
1,439,381
44,793
39,407
1,281
-
0
719,011
2,243,873
WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
78,854
2,367
Other debtors
21,585
1,430
Prepayments and accrued income
558
2,698
100,997
6,495
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
445,185
15,000
Obligations under finance leases
41,346
16,606
Other borrowings
290,241
290,241
Trade creditors
108,008
79,315
Taxation and social security
2,333
955
Directors current account
290,241
290,241
Deferred income
96,583
52,931
Other creditors
341
207
Accruals
20,630
6,114
1,294,908
751,610
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
1,039,336
1,097,000
Obligations under finance leases
88,138
51,593
1,127,474
1,148,593
WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
7
Creditors: amounts falling due after more than one year
(Continued)
- 11 -

Security

 

HSBC UK Bank Plc holds a fixed and floating charge over the all assets owned by the company as well as a legal mortgage over the property known as Wold View, Palham Road, Market Rasen, Lincolnshire, LN8 3YR. The amount owed to the bank at the balance sheet date in respect of the bank loan is £1,094,334 (2024 - £1,112,000).

 

Chamber Acorn Fund (Humber) Limited hold a fixed charge by way of a chattel mortgage over specific assets owned by the company. The amount owed at the balance sheet date is £390,187 (2024 - £nil).

WOLD VIEW LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 12 -
8
Related party transactions

Other related party transactions

 

As at the balance sheet date, the company owed Luxihomes Limited in the form of a loan £290,241 (2024 - £290,241).

 

The loan is interest free and repayable on demand.

9
Directors' transactions

Mr J Reynard

 

As at the balance sheet, the company owed Mr J Reynard in the form of a loan £290,241 (2024 - £290,241).

 

There is interest being charged on the loan to the company.

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