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 2022

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

40,977

62,829

Investments

5

200

200

Investment property

6

8,320,046

8,320,046

8,361,223

8,383,075

CURRENT ASSETS

Debtors

7

900,829

957,305

Cash at bank and in hand

562,498

375,022

1,463,327

1,332,327

CREDITORS

Amounts falling due within one year

8

804,298

999,362

NET CURRENT ASSETS

659,029

332,965

TOTAL ASSETS LESS CURRENT LIABILITIES

9,020,252

8,716,040

CREDITORS

Amounts falling due after more than one year

9

(3,478,644

)

(3,927,184

)

PROVISIONS FOR LIABILITIES

(2,746

)

(3,778

)

NET ASSETS

5,538,862

4,785,078

CAPITAL AND RESERVES

Called up share capital

300

300

Revaluation reserve

11

1,401,482

1,401,482

Retained earnings

4,137,080

3,383,296

SHAREHOLDERS' FUNDS

5,538,862

4,785,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 13 March 2023 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.

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

-

at varying rates 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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2021

180,355

15,100

195,455

Additions

8,530

-

8,530

Disposals

-

(10,600

)

(10,600

)

At 30 June 2022

188,885

4,500

193,385

DEPRECIATION

At 1 July 2021

129,606

3,020

132,626

Charge for year

21,182

720

21,902

Eliminated on disposal

-

(2,120

)

(2,120

)

At 30 June 2022

150,788

1,620

152,408

NET BOOK VALUE

At 30 June 2022

38,097

2,880

40,977

At 30 June 2021

50,749

12,080

62,829

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2021

and 30 June 2022

200

NET BOOK VALUE

At 30 June 2022

200

At 30 June 2021

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 2021

and 30 June 2022

8,320,046

NET BOOK VALUE

At 30 June 2022

8,320,046

At 30 June 2021

8,320,046

Fair value at 30 June 2022 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:

30.6.22

30.6.21

£

£

Cost

6,918,564

6,918,564

Aggregate depreciation

(1,710,292

)

(1,592,873

)

Investment property was valued on an open market basis on 30 June 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Amounts owed by group undertakings

98,734

58,306

Other debtors

802,095

898,999

900,829

957,305

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

455,018

443,570

Trade creditors

15,005

5,582

Amounts owed to group undertakings

126,428

236,941

Taxation and social security

122,381

208,455

Other creditors

85,466

104,814

804,298

999,362

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans

3,478,644

3,927,184

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

1,591,673

2,093,099

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Bank loans

3,933,662

4,370,754

11.

RESERVES

Revaluation

reserve

£

At 1 July 2021

and 30 June 2022

1,401,482

12.	RELATED PARTY DISCLOSURES

Included within debtors is an amount of £776,436 (previous year £851,275) which is a loan to Cess Sot Ltd, a company under common control. The loan is unsecured, interest free and repayable on demand. The loan was repaid in October 2022.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors.