L & C Leisure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04947398 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

L & C Leisure Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

493,688

534,624

CURRENT ASSETS

Stocks

33,434

25,132

Debtors

5

50,438

92,852

Cash at bank and in hand

46,792

51,700

130,664

169,684

CREDITORS

Amounts falling due within one year

6

486,874

507,342

NET CURRENT LIABILITIES

(356,210

)

(337,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

137,478

196,966

CREDITORS

Amounts falling due after more than one year

7

(325,490

)

(355,488

)

PROVISIONS FOR LIABILITIES

(8,718

)

(8,718

)

NET LIABILITIES

(196,730

)

(167,240

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(196,732

)

(167,242

)

SHAREHOLDERS' FUNDS

(196,730

)

(167,240

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 28 February 2020 and were signed by:

A Lumb - Director

1.	STATUTORY INFORMATION

L & C Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

04947398

Registered office:

New Hold Industrial Estate

Aberford Road

Garforth

Leeds

West Yorkshire

LS25 2HL

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue from the sale of goods is recognised when goods are delivered and legal title passes.

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

-

2% on cost

Improvements to property

-

20% on cost

Plant and equipment

-

20% on cost

Motor vehicles

-

25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Stocks

Stocks of consumable trading stock in the licenced public premises and storage warehouse are valued at the

lower cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-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 the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2018 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

equipment

£

£

£

COST

At 1 June 2018

550,000

388,376

348,217

Additions

-

-

14,818

At 31 May 2019

550,000

388,376

363,035

DEPRECIATION

At 1 June 2018

148,500

388,376

215,388

Charge for year

11,000

-

44,680

At 31 May 2019

159,500

388,376

260,068

NET BOOK VALUE

At 31 May 2019

390,500

-

102,967

At 31 May 2018

401,500

-

132,829

Asset

Motor

under

vehicles

construction

Totals

£

£

£

COST

At 1 June 2018

9,300

-

1,295,893

Additions

-

44,079

58,897

Impairments

-

(44,079

)

(44,079

)

At 31 May 2019

9,300

-

1,310,711

DEPRECIATION

At 1 June 2018

9,005

-

761,269

Charge for year

74

-

55,754

At 31 May 2019

9,079

-

817,023

NET BOOK VALUE

At 31 May 2019

221

-

493,688

At 31 May 2018

295

-

534,624

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

23,262

23,789

Other debtors

27,176

69,063

50,438

92,852

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

23,108

22,790

Trade creditors

67,862

88,557

Amounts owed to associates

37,825

52,069

Taxation and social security

73,392

58,080

Other creditors

284,687

285,846

486,874

507,342

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans

325,490

355,488

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

217,960

250,520

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Bank loans

348,598

378,278

The Company's bankers hold a first legal charge dated 26/01/2006 over the freehold property known as 119

Westgate Hill, Tong Street, Bradford and an unscheduled mortgage debenture dated 15/12/2004 incorporating a

fixed and floating charge over the current and future assets of the Company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

2

Ordinary

£1

2

2

10.	RELATED PARTY DISCLOSURES

The director provided an interest free loan to the company.

Amount due to related party as at 31st May 2019 was £255,566 and in 2018 the balance was £275,185.

11.	POST BALANCE SHEET EVENTS

The company has incurred costs in the reporting period, primarily professional costs, in relation to a series of

planning applications and subsequent appeals for the construction of a motel on the site. Such costs have been

classified as an asst in the course of construction. In the post balance sheet period, the company has failed in its

latest appeal of the planning refusal, and is to no longer continue to pursue the construction of this asset. The

company has therefore in this period applied impairment in full of the accrued costs at the balance sheet date.