Sellers Leisure Limited


Directors	SELLERS, Christine Ann
	SELLERS, Mark
	SELLERS, Samson
	SELLERS, Samson
	SELLERS, William


Registered Address	Thriftwood Country Park Plaxdale Green Road
	Stansted
	Sevenoaks
	TN15 7PB


Registered Number	09526458 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of financial position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be five years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows: Freehold property - 2% straight line Plant and machinery - 25% reducing balance Motor vehicles - 25% reducing balance Fixtures and fittings - 15% reducing balance Office equipment - 3 years straight line Other assets - 10% straight line

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Depreciation is provided on all tangible fixed assets as follows:

Freehold property - 2% straight line
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Office equipment - 3 years straight line
Other assets - 10% straight line

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. 

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

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	19		20

3.	Intangible assets

	Goodwill	Other	Total
	£	£	£
Cost or valuation
At 01 April 24	347,600	26,612	374,212
Additions	-	8,661	8,661
At 31 March 25	347,600	35,273	382,873
Amortisation and impairment
At 01 April 24	238,559	-	238,559
Charge for year	32,832	-	32,832
At 31 March 25	271,391	-	271,391
Net book value
At 31 March 25	76,209	35,273	111,482
At 31 March 24	109,041	26,612	135,653

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 24	9,084,042	195,288	586,863	337,212	102,139	10,305,544
Additions	1,453,664	-	560,954	5,555	10,378	2,030,551
Disposals	(1,138,652)	-	(464,089)	-	-	(1,602,741)
At 31 March 25	9,399,054	195,288	683,728	342,767	112,517	10,733,354
Depreciation and impairment
At 01 April 24	457,488	114,371	142,526	116,544	80,401	911,330
Charge for year	129,743	20,229	133,286	33,696	14,639	331,593
On disposals	-	-	(99,952)	-	-	(99,952)
At 31 March 25	587,231	134,600	175,860	150,240	95,040	1,142,971
Net book value
At 31 March 25	8,811,823	60,688	507,868	192,527	17,477	9,590,383
At 31 March 24	8,626,554	80,917	444,337	220,668	21,738	9,394,214

5.	Stocks

	2025	2024
	£	£
Finished goods	751,654	1,018,974
Total	751,654	1,018,974

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	47,972	76,556
Other debtors	1,760	1,760
Prepayments and accrued income	2,821	18,425
Total	52,553	96,741

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	125,229	554,854
Bank borrowings and overdrafts	175,076	14,630
Taxation and social security	341,445	177,890
Finance lease and HP contracts	33,639	22,852
Other creditors	650,513	704,379
Accrued liabilities and deferred income	659,069	599,936
Total	1,984,971	2,074,541


	Bank loans are secured by means of a fixed charge over certain freehold and leasehold land and a floating charge over the remaining assets of the company. Obligations under finance leases and hire purchase contracts are secured against the asset to which they relate.

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	4,912,050	5,104,717
Other creditors	206,776	193,023
Total	5,118,826	5,297,740


	Obligations under finance leases and hire purchase contracts totalling £206,776 (2024 - £193,023) are included within other creditors, within creditors: amounts due after one year are secured against the asset to which they relate.

9.	Creditors: amounts due after 5 years
	The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is: £4,211,746 (2024 - £3,515,803).

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	240,415		215,875

11.	Provisions for liabilities
	The provision for deferred tax arises from the fair value adjustment on tangible fixed assets.

	2025	2024
	£	£
Net deferred tax liability (asset)	34,000	73,000
Total	34,000	73,000

12.	Pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £11,753 (2024 - £10,272).

13.	Related party transactions
	During the year the director had a loan account with the company. At the balance sheet date the company owed the director £271,720 (2024 - £529,919). This loan is unsecured, interest free and repayable upon demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		111,482		135,653
Tangible assets	4		9,590,383		9,394,214
			9,701,865		9,529,867
Current assets
Stocks	5	751,654		1,018,974
Debtors	6	52,553		96,741
Cash at bank and on hand		592,124		447,325
		1,396,331		1,563,040
Creditors amounts falling due within one year	7	(1,984,971)		(2,074,541)
Net current assets (liabilities)			(588,640)		(511,501)
Total assets less current liabilities			9,113,225		9,018,366
Creditors amounts falling due after one year	8		(5,118,826)		(5,297,740)
Provisions for liabilities	11		(34,000)		(73,000)
Net assets			3,960,399		3,647,626
Capital and reserves
Called up share capital			1,501,000		1,501,000
Profit and loss account			2,459,399		2,146,626
Shareholders' funds			3,960,399		3,647,626