REGISTERED NUMBER: 05380090 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

I.T.M LEISURE (EUROPE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Oldland

Mrs C A Oldland

REGISTERED OFFICE:

Unit 5 Febland Group Ltd

ITM Leisure Europe Ltd

Ashworth Road

Blackpool

Lancashire

FY4 4UN

REGISTERED NUMBER:

05380090 (England and Wales)

ACCOUNTANTS:

Jones Harris Limited

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Tangible assets

4

7,085

12,591

CURRENT ASSETS

Stocks

168,108

231,436

Debtors

5

153,102

145,123

Cash at bank and in hand

283

507

321,493

377,066

CREDITORS

Amounts falling due within one year

6

(421,424

)

(378,673

)

NET CURRENT LIABILITIES

(99,931

)

(1,607

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(92,846

)

10,984

CREDITORS

Amounts falling due after more than one year

7

(22,842

)

(74,931

)

NET LIABILITIES

(115,688

)

(63,947

)

CAPITAL AND RESERVES

Called up share capital

129

129

Retained earnings

(115,817

)

(64,076

)

SHAREHOLDERS' FUNDS

(115,688

)

(63,947

)

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

Mr C J Oldland - Director

1.	STATUTORY INFORMATION

I.T.M Leisure (Europe) 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.

The company's balance sheet shows an excess of liabilities over assets of £115,688 (2024:£63,947) and net current liabilities of £99,931 (2024:£1,607).

The company is dependent upon the continuing support of its directors and other creditors to enable it to meet its day to day working capital requirements.

On this basis the financial statements have been prepared on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of the support of the creditors.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2024

11,205

19,250

9,133

39,588

Disposals

(2,300

)

-

-

(2,300

)

At 31 January 2025

8,905

19,250

9,133

37,288

DEPRECIATION

At 1 February 2024

7,252

10,938

8,807

26,997

Charge for year

440

3,938

107

4,485

Eliminated on disposal

(1,279

)

-

-

(1,279

)

At 31 January 2025

6,413

14,876

8,914

30,203

NET BOOK VALUE

At 31 January 2025

2,492

4,374

219

7,085

At 31 January 2024

3,953

8,312

326

12,591

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

38,506

43,848

Other debtors

107,835

97,956

Prepayments

6,761

3,319

153,102

145,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

255,153

251,561

Trade creditors

115,305

101,288

Social security and other taxes

8,368

3,802

VAT

33,524

14,980

Other creditors

-

2,047

Directors' current accounts

2,160

-

Accruals and deferred income

6,914

4,995

421,424

378,673

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

22,842

74,931

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

30,000

40,000

Between one and five years

-

30,000

30,000

70,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Trade creditors

26,132

27,433

Other creditors

-

2,047

26,132

29,480

The amounts stated above, along with the bank overdraft are all secured on the assets of the company.