Go Leisure Colchester Limited
Go Leisure Colchester Limited
Registered number: 09288322
Unaudited Financial Statements
For The Year Ended 31 October 2018
Ellis Hicks & Co
156a Balgores Lane
Gidea Park
Romford
Essex
RM2 6BP
Go Leisure Colchester Limited
Unaudited Financial Statements
For The Year Ended 31 October 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Go Leisure Colchester Limited
Balance Sheet
As at
31 October 2018
Balance Sheet
Registered number:
09288322
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (145,972) | (116,538) | |||
Page 1
Go Leisure Colchester Limited
Balance Sheet (continued)
As at
31 October 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Go Leisure Colchester Limited
Notes to the Financial Statements
For The Year Ended 31 October 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
As at 31st October 2018, the balance sheet at the end of the year recorded net liabilties. However, the directors believe sufficient financial resources are available to the company to enable it to continue trading into the forseeable future. Therefore, the financial statements have been prepared on a going concern basis.
1.3.
Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are franchise fees paid, it is amortised to profit and loss account over its estimated economic life of 10 years.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Fixtures & Fittings |
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Page 3
Go Leisure Colchester Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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3.
Intangible Assets
| Other | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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Go Leisure Colchester Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
4.
Tangible Assets
| Land & Property | |||
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| Leasehold | Fixtures & Fittings | Total | |
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| Cost | |||
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Amounts owed by other participating interests | - | 10,750 | |
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| Due after more than one year | |||
| Rent Deosit |
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Page 5
Go Leisure Colchester Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
6.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to other participating interests | 90,649 | 61,783 | |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Other creditors (1) |
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9.
Directors Advances, Credits and Guarantees
Mr A Chamberlain was owed £10,631 at the balance sheet date (2016 - £10,628) and is included in creditors.
10.
Related Party Transactions
At the balance sheet date the company was owed Nil (2017 - £10,750) by Go Leisure Building & Mainteance Limited. Work carried out by Go Leisure Build & Maintenance totalled £10,750 in the year. Go Leisure Build & Maintenance Limited is controlled by Mr A O'Brien and Mr G Chamberlain.
At the balance sheet date the company owed £90,649 (2017 - £61,783) to Go Leisure Limited Limited for Management charges. Total charge in the year of £48,866. Go Leisure Limited is controlled by Mr A Chamberlain.
11.
General Information
Go Leisure Colchester Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09288322 . The registered office is 156a Balgores Lane, Gidea Park, Romford, Essex, RM2 6BP.
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