Rose Leisure Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07617050 (England and Wales)

Financial Statements

for the Year Ended 31 December 2022

for

ROSE LEISURE LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

44,725

51,373

CURRENT ASSETS

Stocks

5

11,652

9,257

Debtors

6

94,304

12,578

Cash at bank and in hand

23,743

112,669

129,699

134,504

CREDITORS

Amounts falling due within one year

7

135,745

141,658

NET CURRENT LIABILITIES

(6,046

)

(7,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,679

44,219

CREDITORS

Amounts falling due after more than one year

8

(23,518

)

(33,518

)

PROVISIONS FOR LIABILITIES

10

(11,181

)

(9,761

)

NET ASSETS

3,980

940

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

3,880

840

SHAREHOLDERS' FUNDS

3,980

940

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 22 December 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

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the costs, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

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 (2021 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2022

104,053

Additions

4,184

At 31 December 2022

108,237

DEPRECIATION

At 1 January 2022

52,680

Charge for year

10,832

At 31 December 2022

63,512

NET BOOK VALUE

At 31 December 2022

44,725

At 31 December 2021

51,373

5.

STOCKS

31.12.22

31.12.21

£

£

Stocks

11,652

9,257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Amounts owed by group undertakings

94,304

-

Other debtors

-

12,578

94,304

12,578

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

10,648

10,648

Trade creditors

6,769

4,617

Amounts owed to group undertakings

90,375

86,480

Taxation and social security

12,696

26,458

Other creditors

15,257

13,455

135,745

141,658

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

23,518

33,518

9.	LEASING AGREEMENTS

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

31.12.22

31.12.21

£

£

Within one year

50,000

50,000

Between one and five years

200,000

200,000

In more than five years

100,000

150,000

350,000

400,000

10.	PROVISIONS FOR LIABILITIES

31.12.22

31.12.21

£

£

Deferred tax

11,181

9,761

Deferred

tax

£

Balance at 1 January 2022

9,761

Provided during year

1,420

Balance at 31 December 2022

11,181

The provision of £11,181 as at 31 December 2022 relates entirely to accelerated capital allowances.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

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 company's immediate parent undertaking is 8th Wonder Group Limited, a company registered in England and Wales.

The ultimate parent company is 8th Wonder Holdings Limited. This company prepares group financial statements, copies of which can be obtained from 8th Wonder Holdings Ltd, Unit E Sovereign Business Park, Kingscroft Court, Wigan, England, WN1 3AP.