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COMPANY REGISTRATION NUMBER: 02611101
John Leisure Ltd
Filleted Unaudited Financial Statements
31 December 2024
John Leisure Ltd
Statement of Financial Position
31 December 2024
31 Dec 24
30 Sep 23
Note
£
£
£
Fixed assets
Tangible assets
5
76,332
29,681
Current assets
Stocks
973,112
384,755
Debtors
6
78,638
198,220
Cash at bank and in hand
42,895
106,182
------------
---------
1,094,645
689,157
Creditors: amounts falling due within one year
7
967,844
362,115
------------
---------
Net current assets
126,801
327,042
---------
---------
Total assets less current liabilities
203,133
356,723
Creditors: amounts falling due after more than one year
8
50,741
18,334
---------
---------
Net assets
152,392
338,389
---------
---------
Capital and reserves
Called up share capital
66,670
66,670
Capital redemption reserve
33,330
33,330
Profit and loss account
52,392
238,389
---------
---------
Shareholder funds
152,392
338,389
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
John Leisure Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 17 February 2025 , and are signed on behalf of the board by:
Ms D Broadbent
Director
Company registration number: 02611101
John Leisure Ltd
Notes to the Financial Statements
Period from 1st October 2023 to 31st December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prince of Wales House, 18/19 Salmon Fields Business Village, Royton, Oldham, OL2 6HT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 4 (2023: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1st October 2023
173,335
22,117
195,452
Additions
73,385
73,385
---------
--------
--------
---------
At 31st December 2024
173,335
22,117
73,385
268,837
---------
--------
--------
---------
Depreciation
At 1st October 2023
145,116
20,655
165,771
Charge for the period
3,527
274
22,933
26,734
---------
--------
--------
---------
At 31st December 2024
148,643
20,929
22,933
192,505
---------
--------
--------
---------
Carrying amount
At 31st December 2024
24,692
1,188
50,452
76,332
---------
--------
--------
---------
At 30th September 2023
28,219
1,462
29,681
---------
--------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31st December 2024
50,452
--------
At 30th September 2023
--------
6. Debtors
31 Dec 24
30 Sep 23
£
£
Trade debtors
5,405
132,992
Other debtors
73,233
65,228
--------
---------
78,638
198,220
--------
---------
7. Creditors: amounts falling due within one year
31 Dec 24
30 Sep 23
£
£
Bank loans and overdrafts
10,000
10,021
Trade creditors
256,176
287,920
Social security and other taxes
4,288
3,742
Other creditors
697,380
60,432
---------
---------
967,844
362,115
---------
---------
The liabilities disclosed under bank loans and overdrafts are secured by a debenture over all the company's assets.
8. Creditors: amounts falling due after more than one year
31 Dec 24
30 Sep 23
£
£
Bank loans and overdrafts
5,833
18,334
Other creditors
44,908
--------
--------
50,741
18,334
--------
--------
9. Director's advances, credits and guarantees
Included within debtors due within one year are loans from directors totalling £7,526 (2023: Debit £13,342) on which no interest is being charged .
10. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
31 Dec 24
30 Sep 23
31 Dec 24
30 Sep 23
£
£
£
£
John GmbH
1,117,870
( 955,601)
------------
----
---------
----
11. Controlling party
During the year the entire share capital of the company was acquired by John GmbH (A company registered in Germany) The ultimate controlling party of the company is John GmbH.