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REGISTERED NUMBER: 03916771 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Leisure Spares Ltd

Leisure Spares Ltd (Registered number: 03916771)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leisure Spares Ltd

Company Information
for the Year Ended 31 January 2025







DIRECTORS: K Watson
K J Wells
S Wells





SECRETARY: K J Wells





REGISTERED OFFICE: MiRo House
Unit 9 Becklands Close
Bar Lane, Roecliffe
York
North Yorkshire
YO51 9NR





REGISTERED NUMBER: 03916771 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Leisure Spares Ltd (Registered number: 03916771)

Balance Sheet
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 15,909 25,435

CURRENT ASSETS
Stocks 5 191,883 175,537
Debtors 6 245,663 248,922
Cash at bank and in hand 91,650 196,432
529,196 620,891
CREDITORS
Amounts falling due within one year 7 (117,951 ) (147,213 )
NET CURRENT ASSETS 411,245 473,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,154

499,113

CREDITORS
Amounts falling due after more than one
year

8

(2,929

)

(13,201

)
NET ASSETS 424,225 485,912

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 424,125 485,812
SHAREHOLDERS' FUNDS 424,225 485,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Leisure Spares Ltd (Registered number: 03916771)

Balance Sheet - continued
31 January 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





K J Wells - Director


Leisure Spares Ltd (Registered number: 03916771)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Leisure Spares Ltd 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover includes revenue from the sale of goods.

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 - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost and 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Leisure Spares Ltd (Registered number: 03916771)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2024 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2024 1,114 7,980 49,626 8,304 67,024
Additions - - - 329 329
At 31 January 2025 1,114 7,980 49,626 8,633 67,353
DEPRECIATION
At 1 February 2024 963 4,722 30,790 5,114 41,589
Charge for year 151 752 7,291 1,661 9,855
At 31 January 2025 1,114 5,474 38,081 6,775 51,444
NET BOOK VALUE
At 31 January 2025 - 2,506 11,545 1,858 15,909
At 31 January 2024 151 3,258 18,836 3,190 25,435

5. STOCKS
2025 2024
£    £   
Stocks 191,883 175,537

Leisure Spares Ltd (Registered number: 03916771)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 77,233 79,315
Other debtors 155,549 155,281
Prepayments 12,881 14,326
245,663 248,922

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,433 10,183
Trade creditors 74,854 90,265
Taxation and social security 27,641 40,656
Accruals and deferred income 5,023 6,109
117,951 147,213

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans - 1-2 years 2,929 13,201

The bank loan is repayable over 6 years, with no repayment due for the first year. Interest is charged at a rate of 2.5% commencing after 1 year. The loan is due to mature in April 2026.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 28,174 24,106
Between one and five years 33,483 52,591
61,657 76,697

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
60 A Ordinary £1 60 60
40 B Ordinary £1 40 40
100 100

11. ULTIMATE CONTROLLING PARTY

The company is controlled by KJW Leisure Limited, a private company, limited by shares, registered in England and Wales. The company's registered office is MiRo House, Unit 9 Becklands Close, Bar Lane, Roecliffe, York, YO51 9NR.