Registration number: 03897617

J S P Leisure Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

J S P Leisure Ltd

Company Information

Director

J-C W Parkin

Company secretary

J-C W Parkin

Registered office

24 High Street Sheringham Norfolk NR26 8JR

Accountants

Pacific Limited Chartered Accountants 1st Floor, Woburn House 84 St Benedicts Street Norwich Norfolk NR2 4AB

J S P Leisure Ltd

(Registration number: 03897617)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	232,000	261,000
Tangible assets	5	708,353	704,572
Investment property	6	819,389	588,140
		1,759,742	1,553,712
Current assets
Stocks		40,300	34,404
Debtors	7	9,641	19,362
Cash at bank and in hand		210,716	296,748
		260,657	350,514
Creditors: Amounts falling due within one year	8	(221,109)	(189,215)
Net current assets		39,548	161,299
Total assets less current liabilities		1,799,290	1,715,011
Creditors: Amounts falling due after more than one year	8	(900,000)	(1,000,000)
Provisions for liabilities		(98,163)	(96,462)
Net assets		801,127	618,549
Capital and reserves
Called up share capital	9	2	2
Capital redemption reserve		98	98
Other reserves		66,069	66,069
Profit and loss account		734,958	552,380
Shareholders' funds		801,127	618,549

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 December 2025
 

 

J-C W Parkin
Company secretary and director

J S P Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 High Street
Sheringham
Norfolk
NR26 8JR

2	Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern
The financial statements have been prepared on a going concern basis.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

J S P Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	None on land and 2% straight line on buildings
Plant and equipment	written off over 5 years or at 15% per annum straight line basis

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Goodwill

Purchased goodwill is capitalised and amortised on a straight line basis over its useful economic life of 10 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	written off over 10 years

Cash
Cash comprises cash on hand and all deposits.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year was 12 (2024 - 8).

J S P Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost
At 1 April 2024	306,000	306,000
At 31 March 2025	306,000	306,000
Amortisation
At 1 April 2024	45,000	45,000
Amortisation charge	29,000	29,000
At 31 March 2025	74,000	74,000
Carrying amount
At 31 March 2025	232,000	232,000
At 31 March 2024	261,000	261,000

5	Tangible assets

	Land and buildings £	Plant and equipment  £	Total £
Cost
At 1 April 2024	390,773	717,964	1,108,737
Additions	-	98,759	98,759
Disposals	-	(97,990)	(97,990)
At 31 March 2025	390,773	718,733	1,109,506
Depreciation
At 1 April 2024	3,120	401,045	404,165
Charge for the year	3,120	79,590	82,710
Eliminated on disposal	-	(85,722)	(85,722)
At 31 March 2025	6,240	394,913	401,153
Net book value
At 31 March 2025	384,533	323,820	708,353
At 31 March 2024	387,653	316,919	704,572

J S P Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6	Investment property

	2025 £	2024 £
At 1 April	588,140	588,140
Additions	231,249	-
At 31 March	819,389	588,140

The director has reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.

7

Debtors

	2025 £	2024 £
Trade debtors	2,000	6,300
Other debtors	2,276	8,847
Prepayments	5,365	4,215
	9,641	19,362

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	63,942	95,392
Taxation and social security	90,417	50,127
Other creditors	405	151
Other loans	3,628	25,155
Accruals	62,717	18,390
	221,109	189,215