1st Choice Leisure Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07989376 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2018

FOR

1ST CHOICE LEISURE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K A Jones

REGISTERED OFFICE:

c/o Michael Heaven & Associates Limited

47 Calthorpe Road

Edgbaston

BIRMINGHAM

West Midlands

B15 1TH

REGISTERED NUMBER:

07989376 (England and Wales)

ACCOUNTANTS:

Michael Heaven & Associates Limited

Chartered Certified Accountants

47 Calthorpe Road

Edgbaston

BIRMINGHAM

B15 1TH

BANKERS:

HSBC Bank PLC

770 Bristol Rd S

Birmingham

B31 2NN

INCORPORATED:

14th March 2012

FIXED ASSETS

Intangible assets

3

1,000

2,000

Tangible assets

4

12,112

16,149

13,112

18,149

CURRENT ASSETS

Stocks

6,000

6,000

Debtors

3,352

417

Cash at bank

48,909

33,567

58,261

39,984

CREDITORS

Amounts falling due within one year

52,508

47,058

NET CURRENT ASSETS/(LIABILITIES)

5,753

(7,074

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,865

11,075

PROVISIONS FOR LIABILITIES

5

2,059

1,748

NET ASSETS

16,806

9,327

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

16,706

9,227

SHAREHOLDERS' FUNDS

16,806

9,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31st January 2019 and were signed by:

Mr K A Jones - Director

1.	STATUTORY INFORMATION

1st Choice Leisure Ltd 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 the value of services and goods provided to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 balance sheet date.

Deferred tax

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

the balance sheet 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.

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2017

and 31st May 2018

7,000

AMORTISATION

At 1st June 2017

5,000

Amortisation for year

1,000

At 31st May 2018

6,000

NET BOOK VALUE

At 31st May 2018

1,000

At 31st May 2017

2,000

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2017

and 31st May 2018

29,036

DEPRECIATION

At 1st June 2017

12,887

Charge for year

4,037

At 31st May 2018

16,924

NET BOOK VALUE

At 31st May 2018

12,112

At 31st May 2017

16,149

5.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

2,059

1,748

Deferred

tax

£

Balance at 1st June 2017

1,748

Accelerated Capital Allowances

311

Balance at 31st May 2018

2,059

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100