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

REGISTERED NUMBER: 04471405 (England and Wales)

Financial Statements for the Year Ended 30 June 2020

for

Christian Spencer Leisure Ltd

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

4

62,249

62,904

Investments

5

200

200

Investment property

6

8,320,046

8,320,046

8,382,495

8,383,150

CURRENT ASSETS

Debtors

7

961,472

282,591

Cash at bank and in hand

174,050

149,709

1,135,522

432,300

CREDITORS

Amounts falling due within one year

8

937,786

744,814

NET CURRENT ASSETS/(LIABILITIES)

197,736

(312,514

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,580,231

8,070,636

CREDITORS

Amounts falling due after more than one year

9

(4,048,822

)

(3,637,912

)

PROVISIONS FOR LIABILITIES

(2,731

)

(859

)

NET ASSETS

4,528,678

4,431,865

CAPITAL AND RESERVES

Called up share capital

300

300

Revaluation reserve

11

1,401,482

1,401,482

Retained earnings

3,126,896

3,030,083

SHAREHOLDERS' FUNDS

4,528,678

4,431,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 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 Board of Directors and authorised for issue on 25 March 2021 and were signed on its behalf by:

C P England - Director

S L Smith - Director

1.	STATUTORY INFORMATION

Christian Spencer Leisure Ltd 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 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 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.

Plant and machinery

-

15% on cost and 10% on cost

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2019

168,857

Additions

11,498

At 30 June 2020

180,355

DEPRECIATION

At 1 July 2019

105,953

Charge for year

12,153

At 30 June 2020

118,106

NET BOOK VALUE

At 30 June 2020

62,249

At 30 June 2019

62,904

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2019

and 30 June 2020

200

NET BOOK VALUE

At 30 June 2020

200

At 30 June 2019

200

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

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2019

and 30 June 2020

8,320,046

NET BOOK VALUE

At 30 June 2020

8,320,046

At 30 June 2019

8,320,046

Fair value at 30 June 2020 is represented by:

£

Valuation in 2005

911,076

Valuation in 2007

889,646

Valuation in 2008

1,300,759

Valuation in 2012

130,000

Valuation in 2014

(1,830,000

)

Cost

6,918,565

8,320,046

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

30.6.20

30.6.19

£

£

Cost

6,918,564

6,918,564

Aggregate depreciation

(1,475,454

)

(1,358,035

)

Investment property was valued on an open market basis on 30 June 2020 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Amounts owed by group undertakings

-

35,227

Other debtors

961,472

247,364

961,472

282,591

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans and overdrafts

405,133

349,615

Trade creditors

26,756

7,547

Amounts owed to group undertakings

291,021

160,889

Taxation and social security

170,342

187,445

Other creditors

44,534

39,318

937,786

744,814

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans

4,048,822

3,637,912

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

2,381,791

2,216,951

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.20

30.6.19

£

£

Bank loans

4,453,955

3,987,527

11.

RESERVES

Revaluation

reserve

£

At 1 July 2019

and 30 June 2020

1,401,482

12.	RELATED PARTY DISCLOSURES

Included within debtors is an amount of £905,266 (previous year £184,298) which is a loan to Cess Sot Ltd, a company

under common control. The loan is unsecured, interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors.