SYD Leisure Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09533803 (England and Wales)

SYD LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr J R Brooks

Mr R J Evans

Mr P Slator

Mr R R Instone

Mr D Marrs

Mr F D Brooks

Mr M Rogers

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BUSINESS ADDRESS:

Llechryd Farm

Ffordd Glan Mor

Talybont

Gwynedd

LL43 2AR

REGISTERED NUMBER:

09533803 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of SYD Leisure Limited for the year ended 31 December 2017 which comprise the Income

Statement, Statement of Financial Position, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SYD Leisure Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SYD Leisure Limited and state those matters that we have agreed to state to the Board of Directors of SYD Leisure Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SYD Leisure Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SYD Leisure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SYD Leisure Limited. You consider that SYD Leisure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SYD Leisure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

23 March 2018

FIXED ASSETS

Tangible assets

4

2,117,525

1,878,912

CURRENT ASSETS

Stocks

25,837

43,000

Debtors

5

22,321

25,991

Cash at bank and in hand

38,819

21,705

86,977

90,696

CREDITORS

Amounts falling due within one year

6

385,573

1,812,246

NET CURRENT LIABILITIES

(298,596

)

(1,721,550

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,818,929

157,362

CREDITORS

Amounts falling due after more than one year

7

(1,814,468

)

(85,400

)

PROVISIONS FOR LIABILITIES

-

(3,034

)

NET ASSETS

4,461

68,928

CAPITAL AND RESERVES

Called up share capital

700

700

Share premium

69,300

69,300

Retained earnings

(65,539

)

(1,072

)

SHAREHOLDERS' FUNDS

4,461

68,928

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 March 2018 and were signed on its behalf by:

Mr F D Brooks - Director

1.	STATUTORY INFORMATION

SYD 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of goods/services, excluding value added tax

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Not provided

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on cost

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 Income Statement, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

1,673,898

10,000

187,995

13,555

1,885,448

Additions

214,005

-

60,963

13,174

288,142

Disposals

-

-

(10,221

)

-

(10,221

)

At 31 December 2017

1,887,903

10,000

238,737

26,729

2,163,369

DEPRECIATION

At 1 January 2017

-

-

5,067

1,469

6,536

Charge for year

-

2,000

34,596

2,712

39,308

At 31 December 2017

-

2,000

39,663

4,181

45,844

NET BOOK VALUE

At 31 December 2017

1,887,903

8,000

199,074

22,548

2,117,525

At 31 December 2016

1,673,898

10,000

182,928

12,086

1,878,912

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

800

-

Other debtors

21,521

25,991

22,321

25,991

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

25,533

-

Trade creditors

230,219

466,141

Taxation and social security

32,587

7,587

Other creditors

97,234

1,338,518

385,573

1,812,246

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

474,468

-

Other creditors

1,340,000

85,400

1,814,468

85,400

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

500,001

-

The bank loan is secured by a fixed and floating charge over the assets of the company.

9.	ULTIMATE CONTROLLING PARTY

The control of the company is exercised by the board of directors by virtue of their shares.