| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| INDEPENDENT LEISURE LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| INDEPENDENT LEISURE LIMITED |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| INDEPENDENT LEISURE LIMITED |
| Company Information |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Fairway House |
| Links Business Park |
| St Mellons |
| Cardiff |
| CF3 0LT |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Balance Sheet |
| 30 SEPTEMBER 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 LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings | 11 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Balance Sheet - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Independent Leisure Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Depreciation is not provided on freehold or improvements to buildings. The directors are of the opinion that depreciation of these assets would be inappropriate. Properties are maintained to ensure that their value does not diminish over time. The maintenance costs on these properties are charged to profit and loss in the year incurred. In the opinion of the directors there has been no impairment in relation to the company's freehold and leasehold improvements. |
| 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. |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 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. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and | Motor |
| property | property | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 September 2024 is represented by: |
| Improvements | Fixtures |
| Freehold | to | and | Motor |
| property | property | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2006 | 495,821 | - | - | - | 495,821 |
| Valuation in 2024 | (975,000 | ) | - | - | - | (975,000 | ) |
| Cost | 556,699 | 738,240 | 1,025,784 | 400 | 2,321,123 |
| 77,520 | 738,240 | 1,025,784 | 400 | 1,841,944 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 479,179 | 479,179 |
| Value of land in freehold land and buildings | 479,179 | 479,179 |
| Freehold property was valued on an open market basis on 13 August 2007 by Mackie and Partners . |
| 5. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amount due from related undertaking |
- |
22,290 |
| Prepayments |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Other creditors |
| Directors loan accounts | 564,954 | 616,556 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 121,345 |
| The directors loan accounts are repayable after more than one year and are subject to interest at the discretion of the company's directors, with the interest being charged at a commercial rate. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| INDEPENDENT LEISURE LIMITED (REGISTERED NUMBER: 01788367) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary 'A' | £1 | 100 | 100 |
| Ordinary 'B' | £1 | 38 | 38 |
| Ordinary 'C-Z' | £1 | 5 | 5 |
| 143 | 143 |
| 11. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 526,751 |
| Deficit for the year | ( |
) | ( |
) |
| Redemption | - | (495,821 | ) | (495,821 | ) |
| At 30 September 2024 | ( |
) | (32,321 | ) |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 30 September 2024 the company's directors were owed £564,954 (2023 - £616,556) which is payable after more than one year. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The company is ultimately controlled by the directors, who between them own 100% of the company. |