The Megacentre Rayleigh Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02866701 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

THE MEGACENTRE RAYLEIGH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L V Cantle

P Goldsmith

REGISTERED OFFICE:

7-9 Brook Road

Rayleigh

Essex

SS6 7UT

REGISTERED NUMBER:

02866701 (England and Wales)

ACCOUNTANTS:

Connah Goldsworthy

Chartered Certified Accountants

12 Station Court

Station Approach

Wickford

Essex

SS11 7AT

FIXED ASSETS

Tangible assets

4

80,071

92,362

CURRENT ASSETS

Stocks

5

3,487

2,897

Debtors

6

9,514

5,520

Cash at bank and in hand

142,131

113,445

155,132

121,862

CREDITORS

Amounts falling due within one year

7

150,819

137,157

NET CURRENT ASSETS/(LIABILITIES)

4,313

(15,295

)

TOTAL ASSETS LESS CURRENT LIABILITIES

84,384

77,067

CREDITORS

Amounts falling due after more than one year

8

26,627

36,213

NET ASSETS

57,757

40,854

CAPITAL AND RESERVES

Called up share capital

1,100,000

1,100,000

Retained earnings

(1,042,243

)

(1,059,146

)

SHAREHOLDERS' FUNDS

57,757

40,854

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 6 June 2023 and were signed on its behalf by:

L V Cantle - Director

P Goldsmith - Director

1.	STATUTORY INFORMATION

The Megacentre Rayleigh 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.

Changes in accounting policies

The directors have reviewed the method of depreciation previously applied and concluded that it should be amended so as to ensure that assets were written off over their useful estimated life.

Turnover

Turnover represents the net received sales of goods and provision of recreational facilities, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant & equipment

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2021 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant &

and

Computer

property

equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 October 2021

712,630

198,419

381,094

11,826

1,303,969

Additions

1,589

-

4,414

1,683

7,686

At 30 September 2022

714,219

198,419

385,508

13,509

1,311,655

DEPRECIATION

At 1 October 2021

642,688

198,180

359,605

11,134

1,211,607

Charge for year

13,509

233

5,575

660

19,977

At 30 September 2022

656,197

198,413

365,180

11,794

1,231,584

NET BOOK VALUE

At 30 September 2022

58,022

6

20,328

1,715

80,071

At 30 September 2021

69,942

239

21,489

692

92,362

5.

STOCKS

30.9.22

30.9.21

£

£

Stocks

3,487

2,897

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

1,756

3,052

Prepayments

7,758

2,468

9,514

5,520

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank Loan

10,648

10,648

Trade creditors

16,153

13,744

Amounts owed to group undertakings

56,863

76,863

Social security and other taxes

-

4,785

VAT

26,116

5,749

Other creditors

-

23,245

Accruals and deferred income

41,039

2,123

150,819

137,157

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans - 1-2 years

10,648

10,648

Bank loans - 2-5 years

15,979

25,565

26,627

36,213

9.	SECURED DEBTS

The bank overdraft is secured by a personal guarantee by one of the company's directors, L Cantle.

10.	RELATED PARTY DISCLOSURES

At the year end the company owed a balance of £56,863 (2021 - £76,863) to its parent undertaking, Active Christian Trust.

During the year the company paid £78,500 (2021 - £60,000) to Active Christian Trust for rent of the premises from which it operates.

A Donation of £55,00 was also made to Active Christian Trust in the year.

Active Christian Trust made grants of £NIL (2021 - £35,000) to The Megacentre Rayleigh Ltd to support its activities.

11.	ULTIMATE CONTROLLING PARTY

Active Christian Trust, a charity registered with the Charity Commission under number 1015452 is the ultimate controlling party.