Offseason LE1 Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11909646

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		6,350		-
Tangible Assets	5		91,590		47,095

			97,940		47,095
CURRENT ASSETS
Stocks	6	176,290		155,000
Debtors	7	12,921		3,992
Cash at bank and in hand		1,355		1,808

		190,566		160,800
Creditors: Amounts Falling Due Within One Year	8	(331,625 )		(12,952 )

NET CURRENT ASSETS (LIABILITIES)			(141,059 )		147,848

TOTAL ASSETS LESS CURRENT LIABILITIES			(43,119 )		194,943

Creditors: Amounts Falling Due After More Than One Year	9		(50,105 )		(117,096 )

NET (LIABILITIES)/ASSETS			(93,224 )		77,847

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			(93,225 )		77,846

SHAREHOLDERS' FUNDS			(93,224)		77,847

Page 1

Page 2

Offseason LE1 Limited

Balance Sheet (continued)

As At 31 July 2024

For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Joe Kinch

Director

3rd November 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Offseason LE1 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11909646 . The registered office is Rose Villa, 42 Glebe Street, Loughborough, Leicestershire, LE11 1JR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% Straight Line
Plant & Machinery	25% Straight Line
Fixtures & Fittings	25% Straight Line
Office Equipment	25% Straight Line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

Page 3

Page 4

Offseason LE1 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 8)

4. Intangible Assets

	Other
	£
Cost
As at 1 August 2023	-
Additions	7,000

As at 31 July 2024	7,000

Amortisation
As at 1 August 2023	-
Provided during the period	650

As at 31 July 2024	650

Net Book Value
As at 31 July 2024	6,350

As at 1 August 2023	-

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Office Equipment	Total
	£	£	£	£	£
Cost
As at 1 August 2023	-	912	57,723	-	58,635
Additions	54,527	-	2,982	2,811	60,320

As at 31 July 2024	54,527	912	60,705	2,811	118,955

Depreciation
As at 1 August 2023	-	114	11,426	-	11,540
Provided during the period	-	228	15,076	521	15,825

As at 31 July 2024	-	342	26,502	521	27,365

Net Book Value
As at 31 July 2024	54,527	570	34,203	2,290	91,590

As at 1 August 2023	-	798	46,297	-	47,095

Page 4

Page 5

Offseason LE1 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2024

6. Stocks

	2024	2023
	£	£
Stock	176,290	155,000

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,170	-
Other debtors	635	-
Corporation tax recoverable assets	8,116	-
VAT	-	3,992

	12,921	3,992

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	18,081	-
Bank loans and overdrafts	-	32
Corporation tax	-	8,116
Other taxes and social security	1,191	608
VAT	6,166	-
Net wages	3,394	-
Other creditors	6,960	-
Accruals and deferred income	36,417	1,200
Directors' loan accounts	259,416	2,996

	331,625	12,952

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to related parties	50,105	117,096

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

Page 5