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Registered number: 11600423
Kings Arms Leisure Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
NSBA Ltd
ACMA
17d Back Lane Wymondham
Norwich
NR18 0QB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11600423
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 200 200
Tangible Assets 5 60,141 63,029
60,341 63,229
CURRENT ASSETS
Stocks 6 17,000 16,500
Debtors 7 30,320 99,015
Cash at bank and in hand 30,131 -
77,451 115,515
Creditors: Amounts Falling Due Within One Year 8 (130,437 ) (137,296 )
NET CURRENT ASSETS (LIABILITIES) (52,986 ) (21,781 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,355 41,448
Creditors: Amounts Falling Due After More Than One Year 9 (73,890 ) (76,983 )
NET LIABILITIES (66,535 ) (35,535 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (66,635 ) (35,635 )
SHAREHOLDERS' FUNDS (66,535) (35,535)
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Nicola Smith
Director
19/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Kings Arms Leisure Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11600423 . The registered office is 17D Back Lane, Wymondham, NR18 0QB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 30%
Plant & Machinery 20%
Motor Vehicles 25%
Fixtures & Fittings 20%
Computer Equipment 20%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 200
As at 31 October 2024 200
Net Book Value
As at 31 October 2024 200
As at 1 November 2023 200
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2023 42,210 40,050 3,900 10,842
Additions - 4,113 - -
As at 31 October 2024 42,210 44,163 3,900 10,842
Depreciation
As at 1 November 2023 4,132 23,251 2,975 3,016
Provided during the period 1,142 4,182 231 1,002
As at 31 October 2024 5,274 27,433 3,206 4,018
...CONTINUED
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Page 5
Net Book Value
As at 31 October 2024 36,936 16,730 694 6,824
As at 1 November 2023 38,078 16,799 925 7,826
Computer Equipment Total
£ £
Cost
As at 1 November 2023 2,961 99,963
Additions - 4,113
As at 31 October 2024 2,961 104,076
Depreciation
As at 1 November 2023 3,560 36,934
Provided during the period 444 7,001
As at 31 October 2024 4,004 43,935
Net Book Value
As at 31 October 2024 (1,043 ) 60,141
As at 1 November 2023 (599 ) 63,029
6. Stocks
2024 2023
£ £
Materials 17,000 16,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,504 25,504
Prepayments and accrued income - 3,786
Other debtors (1) - 8,095
Director's loan account 4,816 61,630
30,320 99,015
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,635 33,883
Bank loans and overdrafts 31,527 36,874
Corporation tax - 28,576
Other taxes and social security 62,258 36,946
Accruals and deferred income 1,017 1,017
130,437 137,296
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 73,890 76,983
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mrs Nicola Smith 61,630 - - - -
The above loan is unsecured, interest free and repayable on demand.
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