Rose Leisure Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07617050 (England and Wales)

Financial Statements

for the Year Ended 31 December 2021

for

ROSE LEISURE LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

51,373

48,312

CURRENT ASSETS

Stocks

5

9,257

7,910

Debtors

6

12,578

297

Cash at bank and in hand

112,669

5,162

134,504

13,369

CREDITORS

Amounts falling due within one year

7

141,658

38,027

NET CURRENT LIABILITIES

(7,154

)

(24,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

44,219

23,654

CREDITORS

Amounts falling due after more than one year

8

(33,518

)

(45,000

)

PROVISIONS FOR LIABILITIES

10

(9,761

)

(9,179

)

NET ASSETS/(LIABILITIES)

940

(30,525

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

840

(30,625

)

SHAREHOLDERS' FUNDS

940

(30,525

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 March 2023 and were signed by:

Mr G M Tyrer - Director

1.	STATUTORY INFORMATION

Rose 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:

07617050

Registered office:

Unit E Sovereign Business Park,

Kingscroft Court

Wigan

WN1 3AP

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continue to adopt the going concern basis in preparing its financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Government grants

Government grants are recognised at the amount received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them. Grants are accounted for under the accrual model.

Stocks

Stocks are valued at the lower of 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 Statement of Income and Retained Earnings, 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.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2021

90,957

Additions

13,096

At 31 December 2021

104,053

DEPRECIATION

At 1 January 2021

42,645

Charge for year

10,035

At 31 December 2021

52,680

NET BOOK VALUE

At 31 December 2021

51,373

At 31 December 2020

48,312

5.

STOCKS

31.12.21

31.12.20

£

£

Stocks

9,257

7,910

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other debtors

12,578

297

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

10,648

5,000

Trade creditors

4,617

18,490

Amounts owed to group undertakings

86,480

6,163

Taxation and social security

26,458

580

Other creditors

13,455

7,794

141,658

38,027

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

33,518

45,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.21

31.12.20

£

£

Within one year

50,000

50,000

Between one and five years

200,000

200,000

In more than five years

150,000

200,000

400,000

450,000

10.	PROVISIONS FOR LIABILITIES

31.12.21

31.12.20

£

£

Deferred tax

9,761

9,179

Deferred

tax

£

Balance at 1 January 2021

9,179

Provided during year

582

Balance at 31 December 2021

9,761

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Rogers BSc FCA (Senior Statutory Auditor)

for and on behalf of NRB

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is 8th Wonder Holdings Limited.