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Registration number: 01848034

Lloyd Davenport (Leisure) Ltd

Annual Report and Unaudited Financial Statements Year Ended 31 October 2024

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Chartered Accountants

 

Lloyd Davenport (Leisure) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Lloyd Davenport (Leisure) Ltd

Company Information

Directors

Mr B L Davenport

Mr J C F Davenport

Mrs L K Smith

Company secretary

Mrs L K Smith

Registered office

Beachside Centre
Bowleaze Cove
WEYMOUTH
Dorset
DT3 6PW

Accountants

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lloyd Davenport (Leisure) Ltdfor the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lloyd Davenport (Leisure) Ltd for the year ended 31 October 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Lloyd Davenport (Leisure) Ltd, as a body, in accordance with the terms of our engagement letter dated 17 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of Lloyd Davenport (Leisure) Ltd and state those matters that we have agreed to state to the Board of Directors of Lloyd Davenport (Leisure) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lloyd Davenport (Leisure) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lloyd Davenport (Leisure) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lloyd Davenport (Leisure) Ltd. You consider that Lloyd Davenport (Leisure) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lloyd Davenport (Leisure) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

14 July 2025

 

Lloyd Davenport (Leisure) Ltd

(Registration number: 01848034)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,026,966

1,024,163

Current assets

 

Stocks

31,000

49,739

Debtors

5

43,190

142,199

Cash at bank and in hand

 

725,213

754,416

 

799,403

946,354

Creditors: Amounts falling due within one year

6

(164,456)

(220,005)

Net current assets

 

634,947

726,349

Total assets less current liabilities

 

1,661,913

1,750,512

Provisions for liabilities

(42,413)

(48,974)

Net assets

 

1,619,500

1,701,538

Capital and reserves

 

Called up share capital

25,000

25,000

Revaluation reserve

488,203

488,203

Profit and loss account

1,106,297

1,188,335

Shareholders' funds

 

1,619,500

1,701,538

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 July 2025 and signed on its behalf by:
 



Mr J C F Davenport
Director

 

Lloyd Davenport (Leisure) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Beachside Centre
Bowleaze Cove
WEYMOUTH
Dorset
DT3 6PW
England

These financial statements were authorised for issue by the Board on 14 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Lloyd Davenport (Leisure) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil

Freehold property

Nil

Plant and machinery

Fixtures and equipment 10-15% pa reducing balance and computer equipment 25% pa straight line

Motor vehicles

25% pa reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Lloyd Davenport (Leisure) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2023 - 38).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

858,873

324,126

247,148

1,430,147

Additions

-

719

41,749

42,468

At 31 October 2024

858,873

324,845

288,897

1,472,615

Depreciation

At 1 November 2023

-

257,773

148,211

405,984

Charge for the year

-

11,446

28,219

39,665

At 31 October 2024

-

269,219

176,430

445,649

Carrying amount

At 31 October 2024

858,873

55,626

112,467

1,026,966

At 31 October 2023

858,873

66,353

98,937

1,024,163

Included within the net book value of land and buildings above is £858,873 (2023 - £858,873) in respect of freehold land and buildings.
 

Land and buildings with a cost of £409,165 are shown at a valuation of £775,000 obtained in February 2010. The assets were valued by J O Slade FRICS, Chartered Surveyor on an open market value basis. The directors are of the opinion that there has been no material changes to these values at 31 October 2024.

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

3,875

Prepayments

12,821

13,598

Other debtors

30,369

124,726

 

43,190

142,199

 

Lloyd Davenport (Leisure) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

16,473

18,956

Directors loan account

7

26,191

26,190

Taxation and social security

 

107,935

111,117

Other creditors

 

13,857

63,742

 

164,456

220,005

7

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

149,686

131,208

Included within debtors is an overdrawn directors loan account balance of £30,319 . (2023: £124,727)

During the year the company paid dividends to directors totalling £100,000 (2023: £70,000)

 

8

Parent and ultimate parent undertaking

The ultimate controlling party is Mr J C F Davenport.