DIVINE LEISURE LIMITED Filleted accounts for Companies House (small and micro)

DIVINE LEISURE LTD - Company Information

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COMPANY REGISTRATION NUMBER: 03914731

DIVINE LEISURE LIMITED

Filleted Unaudited Financial Statements

31 March 2022

DIVINE LEISURE LIMITED

Statement of Financial Position

31 March 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		491,231	491,231

Current assets

Debtors	6	630,024	680,184
Cash at bank and in hand		244,105	181,903
		---------	---------
		874,129	862,087

Creditors: amounts falling due within one year	7	810,756		833,644
		---------		---------
Net current assets			63,373	28,443
			---------	---------
Total assets less current liabilities			554,604	519,674
			---------	---------
Net assets			554,604	519,674
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	554,504	519,574
	---------	---------
Shareholders funds	554,604	519,674
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

DIVINE LEISURE LIMITED

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 19 December 2022 , and are signed on behalf of the board by:

Mr D Fluss

Director

Company registration number: 03914731

DIVINE LEISURE LIMITED

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2021 and 31 March 2022	491,231
	---------
Depreciation
At 1 April 2021 and 31 March 2022	–
	---------
Carrying amount
At 31 March 2022	491,231
	---------
At 31 March 2021	491,231
	---------

6. Debtors

	2022	2021
	£	£
Other debtors	630,024	680,184
	---------	---------

Other debtors include £627,924 (2021: £598,024) amounts due from a related undertaking .

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	18,666	22,024
Corporation tax	8,194	11,717
Social security and other taxes	7,048	3,512
Loan creditor	760,000	780,000
Unpaid directors salaries	–	12,000
Other creditors	16,848	4,391
	---------	---------
	810,756	833,644
	---------	---------

The loan creditors consist of monies advanced by another company with which this company has informal connection, either through its board and shareholders.