J.R.S._LEISURE_LIMITED - Accounts

J.R.S. LEISURE LIMITED - Company Information

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Company Registration No. 04419048 (England and Wales)

J.R.S. LEISURE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Richard Anthony

Chartered Accountants

J.R.S. LEISURE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

J.R.S. LEISURE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

17,389

19,873

Tangible assets

575,415

557,756

592,804

577,629

Current assets

Stocks

14,050

12,200

Debtors

286,220

2,029

Cash at bank and in hand

127,618

310,030

427,888

324,259

Creditors: amounts falling due within one year

(221,245)

(138,007)

Net current assets

206,643

186,252

Total assets less current liabilities

799,447

763,881

Provisions for liabilities

(28,694)

(24,403)

770,753

739,478

Capital and reserves

Called up share capital

100

Profit and loss account

770,653

739,378

Shareholders' funds

770,753

739,478

J.R.S. LEISURE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 28 November 2016

Mr J A Smith

Mrs R C Smith

Director

Company Registration No. 04419048

J.R.S. LEISURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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 January 2015).

These financial statements have been prepared on a going concern basis.

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 takings after accounting for payouts and refills. Takings subject to VAT are net of VAT.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Freehold & Leasehold Property

1 % straight Line

Amusement Machines

25% straight line

Fixtures, fittings & equipment

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.6

Stock

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

1.7

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.

J.R.S. LEISURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

49,673

1,018,361

1,068,034

Additions

106,031

Disposals

(50,929)

At 31 March 2016

49,673

1,073,463

1,123,136

Depreciation

At 1 April 2015

29,800

460,605

490,405

On disposals

(45,236)

Charge for the year

2,484

82,679

85,163

At 31 March 2016

32,284

498,048

530,332

Net book value

At 31 March 2016

17,389

575,415

592,804

At 31 March 2015

19,873

557,756

577,629

Debtors

Debtors include an amount of £266,458 (2015 - £-) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100