SINCLAIR_LEISURE_LIMITED - Accounts

SINCLAIR LEISURE LIMITED - Company Information

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Company Registration No. SC110447 (Scotland)

SINCLAIR LEISURE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

SINCLAIR LEISURE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

SINCLAIR LEISURE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

361,458

372,170

Current assets

Stocks

8,523

8,139

Debtors

464,708

461,849

Cash at bank and in hand

7,387

6,219

480,618

476,207

Creditors: amounts falling due within one year

(150,083)

(150,400)

Net current assets

330,535

325,807

Total assets less current liabilities

691,993

697,977

Creditors: amounts falling due after more than one year

(108,442)

(140,729)

Provisions for liabilities

(905)

(969)

582,646

556,279

Capital and reserves

Called up share capital

20,000

Other reserves

80,000

Profit and loss account

482,646

456,279

Shareholders' funds

582,646

556,279

SINCLAIR LEISURE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2015

- 2 -

For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 November 2015

Mr N Sinclair

Director

Company Registration No. SC110447

SINCLAIR LEISURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% straight line

Plant and machinery

20% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

SINCLAIR LEISURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 May 2014

614,596

Additions

966

At 30 April 2015

615,562

Depreciation

At 1 May 2014

242,427

Charge for the year

11,677

At 30 April 2015

254,104

Net book value

At 30 April 2015

361,458

At 30 April 2014

372,170

Debtors

Debtors include an amount of £397,989 (2014 - £397,989) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £89,297 (2014 - £86,821).

The company has granted to The Royal Bank of Scotland PLC a standard security over The Cawdor Tavern, Nairn, and a bond and floating charge over all property, as security for bank borrowings which include a bank overdraft and term loans.

SINCLAIR LEISURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 5 -

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

30,092

37,748

The aggregate amount of creditors for which security has been given amounted to £108,442 (2014 - £140,729).

Share capital

2015

2014

Allotted, called up and fully paid

20,000 Ordinary shares of £1 each

20,000

Related party relationships and transactions

Other transactions

During the year the company advanced to Mr Sinclair, director, loans totalling £2,507 (2014: £2,939). Debtors falling due at the year end include interest free loans to Mr Sinclair totalling £52,275 (2014: £49,768). The loans are unsecured and there are no formal repayment terms.