Christian Spencer Leisure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04471405 (England and Wales)

Financial Statements for the Year Ended 30 June 2018

for

Christian Spencer Leisure Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S L Smith

C P England

SECRETARY:

C P England

REGISTERED OFFICE:

42 Pitt Street

Barnsley

South Yorkshire

S70 1BB

REGISTERED NUMBER:

04471405 (England and Wales)

ACCOUNTANTS:

Paul Howley & Co Ltd

Chartered Certified Accountants

42 Pitt Street

Barnsley

South Yorkshire

S70 1BB

FIXED ASSETS

Tangible assets

3

181,906

191,711

Investments

4

200

200

Investment property

5

8,320,046

8,320,046

8,502,152

8,511,957

CURRENT ASSETS

Debtors

6

135,589

134,727

Cash at bank and in hand

175,837

227,604

311,426

362,331

CREDITORS

Amounts falling due within one year

7

980,927

1,621,668

NET CURRENT LIABILITIES

(669,501

)

(1,259,337

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,832,651

7,252,620

CREDITORS

Amounts falling due after more than one year

8

3,771,515

4,102,282

NET ASSETS

4,061,136

3,150,338

CAPITAL AND RESERVES

Called up share capital

300

300

Revaluation reserve

10

1,401,482

1,401,482

Retained earnings

2,659,354

1,748,556

SHAREHOLDERS' FUNDS

4,061,136

3,150,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2019 and were signed on its behalf by:

C P England - Director

S L Smith - Director

1.	STATUTORY INFORMATION

Christian Spencer Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention as modified by the revaluation of certain assets.

Turnover

Turnover, which is stated net of VAT, represents income from rental of investment property and income arising from the

provision of management services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

15% on cost and In accordance with the lease term

No depreciation has been provided on the freehold property because it is represented by development land.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is

recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 July 2017

and 30 June 2018

1,205,511

126,394

1,331,905

DEPRECIATION

At 1 July 2017

1,055,511

84,683

1,140,194

Charge for year

-

9,805

9,805

At 30 June 2018

1,055,511

94,488

1,149,999

NET BOOK VALUE

At 30 June 2018

150,000

31,906

181,906

At 30 June 2017

150,000

41,711

191,711

No depreciation has been provided on the freehold property because it is represented by land purchased with a view to

construction of a new unit.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2017

and 30 June 2018

200

NET BOOK VALUE

At 30 June 2018

200

At 30 June 2017

200

Shares in group undertakings comprise share capital of TFWB Ltd and TWWSY Ltd, both wholly owned subsidiaries.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

and 30 June 2018

8,320,046

NET BOOK VALUE

At 30 June 2018

8,320,046

At 30 June 2017

8,320,046

Fair value at 30 June 2018 is represented by:

£

Valuation in 2005

911,077

Valuation in 2007

889,646

Valuation in 2008

1,300,759

Valuation in 2012

130,000

Valuation in 2014

(1,830,000

)

Cost

6,918,564

8,320,046

If investment property had not been revalued it would have been included at the following historical cost:

30.6.18

30.6.17

£

£

Cost

6,918,564

6,918,564

Aggregate depreciation

(1,240,616

)

(1,161,540

)

Investment property was valued on an open market basis on 30 June 2018 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Other debtors

135,589

134,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans and overdrafts

311,159

306,159

Trade creditors

3,796

7,223

Amounts owed to group undertakings

112,304

575,142

Taxation and social security

308,670

482,175

Other creditors

244,998

250,969

980,927

1,621,668

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans

3,694,716

4,002,355

Other creditors

76,799

99,927

3,771,515

4,102,282

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

2,431,080

2,759,719

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.18

30.6.17

£

£

Bank loans

4,005,875

4,308,514

10.

RESERVES

Revaluation

reserve

£

At 1 July 2017

and 30 June 2018

1,401,482

11.	ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors.