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Registration number: 02113018

Leisure Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Leisure Estates Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Leisure Estates Limited

(Registration number: 02113018)
Statement of Financial Position as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

461,021

461,361

Current assets

 

Debtors

5

3,809

4,072

Cash at bank and in hand

 

5,123

8,215

 

8,932

12,287

Creditors: Amounts falling due within one year

6

(230,201)

(234,883)

Net current liabilities

 

(221,269)

(222,596)

Net assets

 

239,752

238,765

Capital and reserves

 

Called up share capital

394,210

394,210

Share premium reserve

122,602

122,602

Revaluation reserve

7,918

7,918

Profit and loss account

(284,978)

(285,965)

Shareholders' funds

 

239,752

238,765

For the financial year ending 28 February 2025 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 and 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 30 August 2025 and signed on its behalf by:
 


Mrs S Surtees
Director

 

Leisure Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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:
35 Brean Down Avenue
Weston super Mare
North Somerset
BS23 4JQ

Principal activity

The principal activity of the company is that of owning and letting out of a hotel and other leisure/property investment activities.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income and recharged expenditure.

 

Leisure Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises 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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Leisure Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2024

460,000

2,621

2,390

465,011

At 28 February 2025

460,000

2,621

2,390

465,011

Depreciation

At 1 March 2024

-

1,516

2,134

3,650

Charge for the year

-

276

64

340

At 28 February 2025

-

1,792

2,198

3,990

Carrying amount

At 28 February 2025

460,000

829

192

461,021

At 29 February 2024

460,000

1,105

256

461,361

Included within the net book value of land and buildings above is £460,000 (2024 - £460,000) in respect of a freehold investment property

Tangible assets held at valuation

The investment property has been valued by the Director, Mr Geoff Surtees, on an open market value.

 

Leisure Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

5

Debtors

Note

2025
£

2024
£

Deferred tax assets

3,809

4,072

 

3,809

4,072

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

21,120

21,542

Accruals and deferred income

6,861

5,054

Other creditors

202,220

208,287

230,201

234,883

7

Reserves

Profit and loss account
This reserve records retained earnings and accumulated losses.

Share premium account
This reserve records the amount above the nominal value received for the shares sold, less transaction costs.

Revaluation reserve
This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

 

Leisure Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

8

Related party transactions

Related party transactions

During the year the company was charged £nil (2024 £nil) for management services and £2,120 (2024 £2,120) for a renewal fee on the loan by Woodspring Nominees Limited. The shareholders and Directors of Woodspring Nominees Limited are Mr and Mrs Surtees.

At the end of the year, the company owed £170,771 (2024 £173,771) to Woodspring Nominees Limited in respect of loans and other creditors and £52,040 (2024 £52,040) in respect of management fees outstanding.

No interest is payable in respect of this loan or in respect of the amounts owed to the Directors in respect of the Directors' Loan Account.
 

Transactions with directors

2025

At 1 March 2024
£

Advances to director
£

Repayments by director
£

At 28 February 2025
£

Directors' loans

(3,596)

9,369

(6,303)

(530)

         
       

 

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Directors' loans

(1,290)

2,742

(5,048)

(3,596)