Company No: 09319282 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	47,602		56,847
		47,602		56,847
Current assets
Stocks		627,076		751,889
Debtors	5	45,955		44,147
Cash at bank and in hand		170,955		126,365
		843,986		922,401
Creditors: amounts falling due within one year	6	( 222,251)		( 324,104)
Net current assets		621,735		598,297
Total assets less current liabilities		669,337		655,144
Creditors: amounts falling due after more than one year	7	( 8,065)		( 24,845)
Provision for liabilities		( 11,801)		( 14,069)
Net assets		649,471		616,230
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		649,371		616,130
Total shareholders' funds		649,471		616,230

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Leisureshopdirect Ltd (registered number: 09319282) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Mr B G Donovan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Leisureshopdirect Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1, Atlantic Court, North Devon Business Park, Chivenor, Barnstaple, Devon, EX31 4FP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	5 years straight line
Development costs	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	10 years straight line
Vehicles	15 % reducing balance
Fixtures and fittings	5 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provisions are made for obsolete or slow moving stock.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		10

3. Intangible assets

	Goodwill		Development costs		Total
	£		£		£
Cost
At 01 January 2024	10,000		7,000		17,000
At 31 December 2024	10,000		7,000		17,000
Accumulated amortisation
At 01 January 2024	10,000		7,000		17,000
At 31 December 2024	10,000		7,000		17,000
Net book value
At 31 December 2024	0		0		0
At 31 December 2023	0		0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	73,929		41,859		36,190		2,944		15,147		170,069
Additions	366		0		0		0		1,702		2,068
At 31 December 2024	74,295		41,859		36,190		2,944		16,849		172,137
Accumulated depreciation
At 01 January 2024	73,301		21,082		4,976		1,211		12,652		113,222
Charge for the financial year	212		4,186		4,682		589		1,644		11,313
At 31 December 2024	73,513		25,268		9,658		1,800		14,296		124,535
Net book value
At 31 December 2024	782		16,591		26,532		1,144		2,553		47,602
At 31 December 2023	628		20,777		31,214		1,733		2,495		56,847

5. Debtors

	2024		2023
	£		£
Trade debtors	0		3,281
Amounts owed by associates	0		5,550
Prepayments	4,493		1,681
VAT recoverable	41,462		33,635
	45,955		44,147

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,000		10,000
Trade creditors	111,643		253,739
Amounts owed to associates	332		0
Amounts owed to directors	36,359		8,292
Accruals	0		2,939
Corporation tax	40,406		25,008
Other taxation and social security	3,299		3,813
Obligations under finance leases and hire purchase contracts (secured)	6,780		6,780
Other creditors	13,432		13,533
	222,251		324,104

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	7,500		17,500
Obligations under finance leases and hire purchase contracts (secured)	565		7,345
	8,065		24,845

Hire purchase liabilities are secured on the individual assets taken out on hire purchase.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
51 Ordinary B shares of £ 1.00 each	51		51
49 Ordinary J shares of £ 1.00 each	49		49
	100		100

9. Financial commitments

Commitments

Capital commitments are as follows:

	2024		2023
	£		£
Contracted for but not provided for:
Finance leases entered into	47,693		53,918

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	6,225		6,225
between one and five years	41,468		47,693
	47,693		53,918