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 2014

Richard Anthony and Company

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 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

22,357

24,841

Tangible assets

515,015

547,418

537,372

572,259

Current assets

Stocks

11,500

11,325

Debtors

1,792

1,155

Cash at bank and in hand

278,609

202,707

291,901

215,187

Creditors: amounts falling due within one year

(117,691)

(107,477)

Net current assets

174,210

107,710

Total assets less current liabilities

711,582

679,969

Creditors: amounts falling due after more than one year

(7,792)

(17,456)

Provisions for liabilities

(15,474)

(19,132)

688,316

643,381

Capital and reserves

Called up share capital

100

Profit and loss account

688,216

643,281

Shareholders' funds

688,316

643,381

J.R.S. LEISURE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 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 27 October 2014

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 2014

- 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).

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 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

49,673

1,034,179

1,083,852

Additions

43,920

Disposals

(130,535)

At 31 March 2014

49,673

947,564

997,237

Depreciation

At 1 April 2013

24,832

486,761

511,593

On disposals

(111,211)

Charge for the year

2,484

56,999

59,483

At 31 March 2014

27,316

432,549

459,865

Net book value

At 31 March 2014

22,357

515,015

537,372

At 31 March 2013

24,841

547,418

572,259

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100