Company registration number 00554838 (England and Wales)
COSMO LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
COSMO LEISURE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
COSMO LEISURE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,702
794
Investments
4
1
1
61,703
795
Current assets
Debtors
5
1,523
15,980
Cash at bank and in hand
1,403,461
1,620,876
1,404,984
1,636,856
Creditors: amounts falling due within one year
6
(3,314,010)
(3,277,679)
Net current liabilities
(1,909,026)
(1,640,823)
Net liabilities
(1,847,323)
(1,640,028)
Capital and reserves
Called up share capital
612,480
612,480
Capital redemption reserve
200
200
Profit and loss reserves
(2,460,003)
(2,252,708)
Total equity
(1,847,323)
(1,640,028)

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 March 2026 and are signed on its behalf by:
Mr J Downs
Director
Company registration number 00554838 (England and Wales)
COSMO LEISURE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
As restated for the period ended 31 March 2024:
Balance at 1 April 2023
612,480
200
(1,063,949)
(451,269)
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
(1,188,759)
(1,188,759)
Balance at 31 March 2024
612,480
200
(2,252,708)
(1,640,028)
Year ended 31 March 2025:
Loss and total comprehensive income
-
-
(207,295)
(207,295)
Balance at 31 March 2025
612,480
200
(2,460,003)
(1,847,323)
COSMO LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Cosmo Leisure Limited is a private company limited by shares incorporated in England and Wales. The registered office is Xeinadin Manchester, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

1.2
Going concern

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

At the balance sheet date, the company had net liabilities. The directors have considered the company’s financial position are satisfied that the company has access to adequate resources to enable it to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements.

1.3
Turnover

Turnover represents income from short-stay car parking and is recognised at the point in time when the parking service is provided, being when a parking ticket is issued or the parking session takes place, measured at the fair value of the consideration received or receivable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer
33.33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Investments in subsidiary undertakings are recognised at cost.

COSMO LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Other debtors

Other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Other creditors

Other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
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 period to which they relate.

The obligations for contributions to defined contribution scheme are recognised as an expense s incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
COSMO LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Computer
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
3,569
-
0
3,569
Additions
-
0
63,015
63,015
At 31 March 2025
3,569
63,015
66,584
Depreciation and impairment
At 1 April 2024
2,775
-
0
2,775
Depreciation charged in the year
794
1,313
2,107
At 31 March 2025
3,569
1,313
4,882
Carrying amount
At 31 March 2025
-
0
61,702
61,702
At 31 March 2024
794
-
0
794
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1
1
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
1,523
1,523
Other debtors
-
0
14,457
1,523
15,980
6
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
736,722
806,918
Taxation and social security
13,378
12,893
Other creditors
2,563,910
2,457,868
3,314,010
3,277,679
COSMO LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Related party transactions

Included in other creditors is an amount of £Nil (2024: £27,597.36) due to one of the directors. This amount is interest free and payable on demand.

During the year the company paid rent of £20,300 (2024: £30,000) to a pension scheme of which the directors are trustees. At the reporting date the company owed £2,767 (2024: £Nil) to the pension scheme in relation to unpaid rent.

8
Ultimate controlling party

The controlling party is Mr J Downs.

9
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Mar 2024
£
£
£
Net assets
(1,640,028)
-
(1,640,028)
Capital and reserves
Total equity
(1,640,028)
-
(1,640,028)
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Notes to reconciliation
Intercompany adjustment

In the financial statements for the year ended 31 December 2024, an intercompany transfer was recognised in error to clear a director’s loan account. The transfer should not have been recorded and has subsequently been reversed.

The comparative figures have therefore been restated to correct this error. The effect of the restatement is to reinstate the director’s loan account balance and reverse the related intercompany balance as at the comparative year end. Retained earnings at the start of the comparative period have not changed as a result of this correction.

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