| Registered Number:02002955 |
For the year ended 31 March 2025
England and Wales
Unaudited Financial Statements
Festival Leisure Limited
Statement of Financial Position
2024
2025
| Property, plant and equipment |
175,367
165,992
3
4
2,410,500
2,288,000
100
100
5
2,585,967
2,454,092
50
50
6
| Trade and other receivables |
25,853
17,044
7
97,359
| Cash and cash equivalents |
78,782
95,876
123,262
| Trade and other payables: amounts falling due within one |
| year |
(16,635)
(23,614)
8
106,627
72,262
Net current assets
| Total assets less current liabilities |
2,658,229
2,560,719
(312,830)
(281,870)
| Provisions for liabilities |
2,345,399
Net assets
2,278,849
420,000
420,000
1,738,189
1,647,699
9
187,210
211,150
2,345,399
2,278,849
Shareholders' funds
| For the 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. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2025
Festival Leisure Limited
Statement of Financial Position Continued
| Mrs Susan Whelan Director |
| These financial statements were approved and authorised for issue by the Board on 14 November 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements
Statutory Information
| Festival Leisure Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 02002955. |
108 East Street
Bedminster
Bristol
BS4 4EY
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified for the revaluation of certain assets. |
Significant judgements and estimates
| The accounts contain significant values in respect of investment properties the value of which have been estimated by the directors. The estimates are based on valuations obtained from appropriate estate agents in 2023 that have then been updated by the directors to reflect general market changes since that time. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company.
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives, on the following basis: |
Land and buildings
Plant and machinery
Fixtures and fittings
Investment property
| Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is recognised in the statement of income. No provision for depreciation is provided as none of the investment properties are leasehold where the unexpired lease term is less than 20 years. The taxation charge includes the changes in the deferred tax liability that would be expected to arise should the properties be disposed off at their revalued amount. |
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements Continued
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date, this includes recognition of potential timing differences arising in respect of revaluations of investment properties. Deferred tax assets and liabilities are measured at the 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 substantially enacted by the end of the reporting period. |
Group accounts
| The company is a parent company subject to the small companies' regime. The company and its subsidiary |
| comprise a small group. The company has, therefore, taken advantage of the option provided by the Companies Act |
| 2006 not to prepare group accounts. |
Fixed asset investments
| Fixed asset investments represents investment in subsidiaries and are stated at cost less provision for any |
| permanent diminution in value. |
| 2. Intangible fixed assets |
Goodwill
5,000
5,000
5,000
5,000
-
-
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements Continued
| 3. Property, plant and equipment |
404,503
30,786
109,503
264,214
18,760
9,494
9,266
-
-
(2,274)
-
(2,274)
264,214
116,495
40,280
420,989
| Provision for depreciation and impairment |
238,511
28,508
72,260
137,743
Charge for year
9,382
721
8,661
-
(2,271)
-
(2,271)
-
245,622
29,229
78,650
137,743
126,471
37,845
11,051
175,367
126,471
37,243
2,278
165,992
| Freehold properties have been depreciated to a value that is equal to, or less than, their current expected residual |
| value. As a result, no further charge for depreciation has been provided for. |
2,288,000
1,850
120,650
2,410,500
2,410,500
2,288,000
| The historic cost of the properties revalued is £538,954 (2023 £537,104). The net book value of the properties at the time of revaluation plus the cost of improvements since that time is £367,381 (2023 £365,531) |
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements Continued
| 5. Investments held as fixed assets |
| Shares in group and participating interests |
100
100
100
100
100
100
100
100
| The investment reflects the Company's holding of a 100% share in Fiesta Leisure Limited. |
2024
2025
50
50
| 7. Trade and other receivables |
2024
2025
3,360
7,410
| Amounts owed by group undertakings and participating interests |
3,801
1,184
9,883
17,259
25,853
17,044
| Other debtors at 31 March 2024 included the amounts owed in relation to the directors' overdrawn current accounts as described in note13. The directors' current accounts were in credit at 31 March 2025. |
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements Continued
| 8. Trade and other payables: amounts falling due within one year |
2024
2025
156
610
| Taxation and social security |
7,392
6,344
209
-
15,857
9,681
23,614
16,635
| Revaluation reserve at 01 April 2024 |
1,647,699
| Transfer to profit and loss account |
90,490
1,738,189
| Revaluation reserve at 31 March 2025 |
| 10. Related party transactions |
| The company undertakes certain administration tasks for Fiesta Leisure Limited, its 100% subsidiary, for which a |
| management charge of £Nil (2023 £Nil) has been made. The company also incurs joint costs in relation to insurance |
| costs and (2024 operational licence fees) that partly relate to Fiesta Leisure Limited. An appropriate proportion of |
| these costs are recharged and recovered from Fiesta Leisure Limited. The amount recharged during the year |
| amounted to £1,200 (2024 £1,679). |
| The company received the benefit of the surrender of tax losses as a result of a group relief claim in respect of |
| Fiesta Leisure Limited in respect of trading losses of £21,836 for which a charge of £ 4,149 has been provided for |
| within the accounts. |
| At 31 March 2025 there was an amount due from Fiesta Leisure Limited of £1,184 (2024 £3,801). |
| 11. Directors advances and guarantees |
Mrs Susan Whelan
Directors's current account
-
904
-
904
Mrs Angela Price-Moore
Directors's current account
-
877
-
877
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For the year ended 31 March 2025
Festival Leisure Limited
Notes to the Financial Statements Continued
| 12. Average number of persons employed |
During the year the average number of employees was 12 (2024 : 12)
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