The Really Fine Leisure Company Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 04428157

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		412,377		288,662

			412,377		288,662
CURRENT ASSETS
Stocks	6	6,049		6,819
Debtors	7	3,172,566		3,075,616
Cash at bank and in hand		54,868		145,529

		3,233,483		3,227,964
Creditors: Amounts Falling Due Within One Year	8	(1,936,061 )		(1,586,399 )

NET CURRENT ASSETS (LIABILITIES)			1,297,422		1,641,565

TOTAL ASSETS LESS CURRENT LIABILITIES			1,709,799		1,930,227

Creditors: Amounts Falling Due After More Than One Year	9		(616,262 )		(1,018,467 )

NET ASSETS			1,093,537		911,760

CAPITAL AND RESERVES
Called up share capital	11		250,000		250,000
Profit and Loss Account			843,537		661,760

SHAREHOLDERS' FUNDS			1,093,537		911,760

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The Really Fine Leisure Company Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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

Mr Bharat Hindocha

Director

7 August 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

The Really Fine Leisure Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04428157 . The registered office is The Marlow Club Globeside Business Park, Fieldhouse Lane, Marlow, SL7 1LU.

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 20 years.

2.4. 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:

Plant & Machinery	5% to 25% straight line basis
Fixtures & Fittings	5% to 25% straight line basis

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The Really Fine Leisure Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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.

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 42 (2023: 42)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	672,475

As at 31 December 2024	672,475

Amortisation
As at 1 January 2024	672,475

As at 31 December 2024	672,475

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.

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The Really Fine Leisure Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	1,561,474	166,851	1,728,325
Additions	235,264	51,407	286,671

As at 31 December 2024	1,796,738	218,258	2,014,996

Depreciation
As at 1 January 2024	1,418,598	21,065	1,439,663
Provided during the period	110,304	52,652	162,956

As at 31 December 2024	1,528,902	73,717	1,602,619

Net Book Value
As at 31 December 2024	267,836	144,541	412,377

As at 1 January 2024	142,876	145,786	288,662

6. Stocks

	2024	2023
	£	£
Finished goods	6,049	6,819

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	44,905	49,455
Amounts owed by group undertakings	3,052,684	2,966,175
Other debtors	74,977	59,986

	3,172,566	3,075,616

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	169,935	101,733
Trade creditors	139,341	134,498
Bank loans and overdrafts	190,363	181,925

...CONTINUED

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The Really Fine Leisure Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amounts owed to group undertakings	532,779	566,584
Other creditors	787,401	482,353
Taxation and social security	116,242	119,306

	1,936,061	1,586,399

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	191,291	116,958
Bank loans	378,233	528,715
Other creditors	46,738	372,794

	616,262	1,018,467

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	169,935	101,733
Later than one year and not later than five years	191,291	116,958

	361,226	218,691

	361,226	218,691

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	250,000	250,000

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