Kingsfield Leisure Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC324176 (Scotland)

Unaudited Financial Statements

for the Period 1 April 2024 to 31 December 2024

for

Kingsfield Leisure Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

2,080,770

2,140,985

2,080,770

2,140,985

CURRENT ASSETS

Stocks

5,291

7,849

Debtors

6

70,885

137,013

Cash at bank

20,778

33,415

96,954

178,277

CREDITORS

Amounts falling due within one year

7

(531,626

)

(624,915

)

NET CURRENT LIABILITIES

(434,672

)

(446,638

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,646,098

1,694,347

CREDITORS

Amounts falling due after more than one
year

8

(420,936

)

(458,516

)

PROVISIONS FOR LIABILITIES

(21,559

)

(15,927

)

NET ASSETS

1,203,603

1,219,904

CAPITAL AND RESERVES

Called up share capital

1,102,000

Retained earnings

101,603

117,904

1,203,603

1,219,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

Ms S Arkley - Director

1.	STATUTORY INFORMATION

Kingsfield Leisure Ltd. is a private company, limited by shares, domiciled in Scotland, registration number SC324176. The registered office is Kingsfield Leisure Ltd, Kingsfield Golf Centre, Linlithgow, West Lothian, Scotland, EH49 7LS.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services in respect of a golf range, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of eleven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost and not provided

Plant and machinery etc

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 December 2024

50,000

AMORTISATION

At 1 April 2024

and 31 December 2024

50,000

NET BOOK VALUE

At 31 December 2024

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

1,667,066

813,274

2,480,340

Additions

-

17,651

Disposals

-

(2,104

)

(2,104

)

At 31 December 2024

1,667,066

828,821

2,495,887

DEPRECIATION

At 1 April 2024

9,420

329,935

339,355

Charge for period

-

75,762

At 31 December 2024

9,420

405,697

415,117

NET BOOK VALUE

At 31 December 2024

1,657,646

423,124

2,080,770

At 31 March 2024

1,657,646

483,339

2,140,985

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 December 2024

411,636

DEPRECIATION

At 1 April 2024

151,750

Charge for period

48,728

At 31 December 2024

200,478

NET BOOK VALUE

At 31 December 2024

211,158

At 31 March 2024

259,886

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

Trade debtors

9,624

35,711

Amounts owed by related parties

34,157

64,298

Other debtors

27,104

37,004

70,885

137,013

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

Bank loans and overdrafts

35,261

Hire purchase contracts

54,374

58,540

Trade creditors

109,292

163,008

Amounts owed to related parties

92,508

67,432

Taxation and social security

22,206

43,898

Other creditors

217,985

256,776

531,626

624,915

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.3.24

£

Bank loans

277,821

289,009

Hire purchase contracts

143,115

169,507

420,936

458,516

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.3.24

£

Hire purchase contracts

197,489

228,047

Balances due in relation to hire purchase are secured against the assets to which they relate.

The company has granted a floating charge over the assets of the company to Royal Bank of Scotland as security for the bank loan and overdraft.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2024 and the year ended 31 March 2024:

31.12.24

31.3.24

£

Mr R C Arkley

Balance outstanding at start of period

3,934

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

3,934

11.	RELATED PARTY DISCLOSURES

Amounts owed to related parties - £92,508 (31 March 2024: £67,432)

Amounts owed by related parties - £34,157 (31 March 2024: £50,815)