Bear Leisure Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09560640 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2017

for

Bear Leisure Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Allsopp

G L Berks

P R Halliday

REGISTERED OFFICE:

1 Mariner Court

Calder Business Park

Wakefield

West Yorkshire

WF4 3FL

REGISTERED NUMBER:

09560640 (England and Wales)

FIXED ASSETS

Tangible assets

3

1,445,409

654,120

CURRENT ASSETS

Debtors

4

33,832

8,660

Cash at bank and in hand

15,169

128,200

49,001

136,860

CREDITORS

Amounts falling due within one year

5

1,576,891

831,215

NET CURRENT LIABILITIES

(1,527,890

)

(694,355

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(82,481

)

(40,235

)

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

(82,483

)

(40,237

)

SHAREHOLDERS' FUNDS

(82,481

)

(40,235

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 14 December 2017 and were signed on its behalf by:

P R Halliday - Director

1.	STATUTORY INFORMATION

Bear Leisure Limited 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

Tangible fixed assets

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition,

net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, other than assets in the course of construction

including management time, at rates calculated to write off the cost less estimated residual value of

each asset on a straight line basis over its expected useful life.

Plant and Machinery 20%

Fixtures and Fittings 20%

Residual value represents the estimated amount which would currently be obtained from disposal of an

asset after deducting estimated costs of disposal, if the asset were already at an age and in the

condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value

of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale

proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value (which is normally the transaction price excluding transaction costs),

unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing

transaction, the financial asset or financial liability is measured at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - other debtors, cash

and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent

to the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered)

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods

different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective

evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that

occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The

recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively

to an event occurring after the impairment was recognised, the prior impairment loss is tested to

determine reversal. An impairment loss is reversed on an individual impaired financial asset to the

extent that the revised recoverable value does not lead to a revised carrying amount higher than the

carrying value had impairment not been recognised.

3.	TANGIBLE FIXED ASSETS

Asset in

Fixtures

course of

Plant and

and

construction

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2016

650,612

3,963

-

654,575

Additions

774,875

17,244

666

792,785

At 31 March 2017

1,425,487

21,207

666

1,447,360

DEPRECIATION

At 1 April 2016

-

455

-

455

Charge for year

-

1,429

67

1,496

At 31 March 2017

-

1,884

67

1,951

NET BOOK VALUE

At 31 March 2017

1,425,487

19,323

599

1,445,409

At 31 March 2016

650,612

3,508

-

654,120

No depreciation has been charged on the asset in the course of construction, which is envisaged will

become an investment property.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

33,832

8,660

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

166,949

13,833

Other creditors

1,409,942

817,382

1,576,891

831,215

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

7.	RELATED PARTY DISCLOSURES

8.	EMPLOYEES AND DIRECTORS

9.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Financial

Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial

statements prepared under the previous UK GAAP were for the period from incorporation on 24 April

2015 to 31 March 2016. The date of transition was therefore 24 April 2015. As a consequence of

adopting FRS 102 the Directors are of the opinion that no changes need to be made upon transition to

this accounting standard as the effect of any changes are not material.