SURREY LEISURE GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2024
Company Registration Number: 15493081
SURREY LEISURE GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
SURREY LEISURE GROUP LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 DECEMBER 2024
DIRECTORS
C J Charter
appointed 15 February 2024
D W Haywood
appointed 15 February 2024
SECRETARY
C J Charter
REGISTERED OFFICE
12c Ashford House
High Street
Buntingford
Hertfordshire
SG9 9AG
COMPANY REGISTRATION NUMBER
15493081 England and Wales
SURREY LEISURE GROUP LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes 2024
£
FIXED ASSETS
Tangible assets 5 50,608
CURRENT ASSETS
Stock 8,000
Debtors 6 19,299
Cash at bank and in hand 26,032
53,331
CREDITORS: Amounts falling due within one year 7 160,905
NET CURRENT LIABILITIES (107,574)
TOTAL ASSETS LESS CURRENT LIABILITIES (56,966)
Provisions for liabilities and charges 3,198
NET LIABILITIES (60,164)
CAPITAL AND RESERVES
Called up share capital 100
Distributable profit and loss account (60,264)
SHAREHOLDERS' DEFICIT (60,164)
SURREY LEISURE GROUP LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
C J Charter
Director
Date approved by the board: 3 September 2025
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
1 GENERAL INFORMATION
Surrey Leisure Group Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
12c Ashford House
High Street
Buntingford
Hertfordshire
SG9 9AG
The company was incorporated on 15 February 2024 and started to trade on the same date.
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes a director £21,739 and a connected undertaking £67,910, both of which could be required for repayment without notice. The company is therefore dependent upon the continued support of this director and the connected undertaking. The directors do not consider their own support nor that of the connected undertaking likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of bar and restaurant services as soon as there is a right to consideration and is determined by reference to the value of the goods provided and services performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Reducing balance basis at 25% per annum
Leasehold improvements Straight line basis over the term of the lease
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the period was:
2024
Average number of employees 14
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
5 TANGIBLE ASSETS
Plant and machinery Leasehold improvements Total
£ £ £
Cost
Additions 18,403 39,339 57,742
At 31 December 2024 18,403 39,339 57,742
Accumulated depreciation and impairments
Charge for period 2,224 4,910 7,134
At 31 December 2024 2,224 4,910 7,134
Net book value
At 31 December 2024 16,179 34,429 50,608
6 DEBTORS
2024
£
Prepayments and accrued income 1,973
Other debtors 17,326
19,299
7 CREDITORS: Amounts falling due within one year
2024
£
Trade creditors 25,212
Taxation and social security 25,559
Accruals and deferred income 2,190
Other creditors 107,944
160,905
SURREY LEISURE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
8 CONTINGENCIES AND COMMITMENTS
Capital Commitments
At 31 December 2024, the company had capital commitments contracted for but not provided for in these financial statements of:
2024
£
Fixtures and fittings 27,000
Other Commitments
Amounts falling due under operating leases: 2024
£
In less than one year 52,500
In more than one but less than five years 237,500
In more than five years 90,000
380,000
9 RELATED PARTY TRANSACTIONS
During the period, the following transactions with related parties took place:
2024
£
C J Charter
Director and shareholder
Advances to company The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the period end, the company owed the director the following amount: 21,739
2024
£
Buntingford Leisure Group Limited
Connected undertaking
Amount owed to connected undertaking at period end: 67,910
C J Charter and D W Haywood are directors and shareholders of Buntingford Leisure Group Limited.
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