REGISTERED NUMBER: 01133724 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CORRIGAN LEISURE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P H Corrigan

Mrs E J Corrigan

SECRETARY:

Mrs E J Corrigan

REGISTERED OFFICE:

5&6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

REGISTERED NUMBER:

01133724 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

5 & 6 Manor Garth

Manor Court

Scarborough

North Yorkshire

YO11 3TU

FIXED ASSETS

Tangible assets

4

113,263

138,114

Investment property

5

1,345,000

1,345,000

1,458,263

1,483,114

CURRENT ASSETS

Debtors

6

78,037

46,647

Cash at bank

78,609

39,609

156,646

86,256

CREDITORS

Amounts falling due within one year

7

74,311

28,174

NET CURRENT ASSETS

82,335

58,082

TOTAL ASSETS LESS CURRENT LIABILITIES

1,540,598

1,541,196

CREDITORS

Amounts falling due after more than one year

8

(62,798

)

(70,449

)

PROVISIONS FOR LIABILITIES

(108,575

)

(102,555

)

NET ASSETS

1,369,225

1,368,192

CAPITAL AND RESERVES

Called up share capital

9

25,000

25,000

Fair value reserve

10

894,546

894,546

Retained earnings

449,679

448,646

SHAREHOLDERS' FUNDS

1,369,225

1,368,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by:

Mr P H Corrigan - Director

1.	STATUTORY INFORMATION

Corrigan Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

15% on cost

Motor vehicles

-

10% on cost

Computer equipment

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

160,333

Additions

6,980

At 31 March 2025

167,313

DEPRECIATION

At 1 April 2024

22,219

Charge for year

31,831

At 31 March 2025

54,050

NET BOOK VALUE

At 31 March 2025

113,263

At 31 March 2024

138,114

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,345,000

NET BOOK VALUE

At 31 March 2025

1,345,000

At 31 March 2024

1,345,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2003

578,592

Valuation in 2022

429,000

Cost

337,408

1,345,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

337,408

337,408

The investment properties were valued on an open market basis basis on 31 March 2022 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,853

4,890

Other debtors

67,184

41,757

78,037

46,647

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

7,911

7,911

Taxation and social security

64,047

11,578

Other creditors

2,353

8,685

74,311

28,174

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

62,798

70,449

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

25,000

Ordinary

£1

25,000

25,000

10.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

894,546

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr P H Corrigan and Mrs E J Corrigan

Balance outstanding at start of year

41,757

38,440

Amounts advanced

72,029

74,117

Amounts repaid

(53,577

)

(70,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

60,209

41,757

The amount outstanding has been repaid since the year end.