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 2021

for

L & C Leisure Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

-

440,544

CURRENT ASSETS

Stocks

-

19,830

Debtors

5

130,873

24,809

Cash at bank and in hand

196,267

44,001

327,140

88,640

CREDITORS

Amounts falling due within one year

6

236,354

509,856

NET CURRENT ASSETS/(LIABILITIES)

90,786

(421,216

)

TOTAL ASSETS LESS CURRENT LIABILITIES

90,786

19,328

CREDITORS

Amounts falling due after more than one year

7

-

(351,755

)

PROVISIONS FOR LIABILITIES

-

(8,718

)

NET ASSETS/(LIABILITIES)

90,786

(341,145

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

90,784

(341,147

)

SHAREHOLDERS' FUNDS

90,786

(341,145

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 and authorised for issue on 13 July 2021 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.

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 31 (2020 - 40 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

property

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2020

550,000

388,376

363,035

9,300

1,310,711

Disposals

(550,000

)

(388,376

)

(363,035

)

(9,300

)

(1,310,711

)

At 31 May 2021

-

-

-

-

-

DEPRECIATION

At 1 June 2020

170,500

388,376

302,157

9,134

870,167

Eliminated on disposal

(170,500

)

(388,376

)

(302,157

)

(9,134

)

(870,167

)

At 31 May 2021

-

-

-

-

-

NET BOOK VALUE

At 31 May 2021

-

-

-

-

-

At 31 May 2020

379,500

-

60,878

166

440,544

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

-

14,324

Amounts owed by associates

130,873

-

Other debtors

-

10,485

130,873

24,809

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans and overdrafts

-

23,687

Trade creditors

313

35,368

Amounts owed to associates

-

64,215

Taxation and social security

-

73,608

Other creditors

236,041

312,978

236,354

509,856

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans

-

351,755

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

-

201,825

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.21

31.5.20

£

£

Bank loans

-

375,442

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

31.5.21

31.5.20

value:

£

£

2

Ordinary

£1

2

2

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director provided an interest free loan to the company.

Amount due to related party as at 31st May 2021 was £231,601 and on 31st May 2020 the balance was £300,112.