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REGISTERED NUMBER: 01857347 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LEISURE ASSET MANAGEMENT LIMITED

LEISURE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 01857347)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEISURE ASSET MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31ST DECEMBER 2024







DIRECTORS: J P Proops
C L Proops





REGISTERED OFFICE: 13 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FW





REGISTERED NUMBER: 01857347 (England and Wales)

LEISURE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 01857347)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,675 1,954
Investments 5 100 -
1,775 1,954

CURRENT ASSETS
Stocks - 334,856
Debtors 6 129,793 38,219
Cash at bank 2,413 24,308
132,206 397,383
CREDITORS
Amounts falling due within one year 7 168,460 367,340
NET CURRENT (LIABILITIES)/ASSETS (36,254 ) 30,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

(34,479

)

31,997

CREDITORS
Amounts falling due after more than one
year

8

2,274,416

2,163,120
NET LIABILITIES (2,308,895 ) (2,131,123 )

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings (2,309,295 ) (2,131,523 )
(2,308,895 ) (2,131,123 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th June 2025 and were signed on its behalf by:





J P Proops - Director


LEISURE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 01857347)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Leisure Asset Management Limited 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. ACCOUNTING POLICIES

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

Going Concern

The directors considers that, notwithstanding the company's negative net assets position, it is appropriate to prepare the accounts on a going concern basis as the company will be able to continue to meet its liabilities as they fall due, due to the continuing support of the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 written off in the year in which it is incurred.


LEISURE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 01857347)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024
and 31st December 2024 2,792
DEPRECIATION
At 1st January 2024 838
Charge for year 279
At 31st December 2024 1,117
NET BOOK VALUE
At 31st December 2024 1,675
At 31st December 2023 1,954

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31st December 2024 100
NET BOOK VALUE
At 31st December 2024 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 78,900 -
Other debtors 50,893 38,219
129,793 38,219

LEISURE ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 01857347)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors - 3,269
Taxation and social security 1,206 974
Other creditors 167,254 363,097
168,460 367,340

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 2,274,416 2,163,120