Company Registration No. 00596765 (England and Wales)
KINGS LEISURE LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
KINGS LEISURE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
KINGS LEISURE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2013
30 September 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
18,924,173
19,391,023
Current assets
Debtors
5,984,030
5,878,513
Cash at bank and in hand
22,184
964,764
6,006,214
6,843,277
Creditors: amounts falling due within one year
(4,352,032)
(5,014,207)
Net current assets
1,654,182
1,829,070
Total assets less current liabilities
20,578,355
21,220,093
Capital and reserves
Called up share capital
3
188,000
188,000
Other reserves
12,000
12,000
Profit and loss account
20,378,355
21,020,093
Shareholders' funds
20,578,355
21,220,093
For the financial period ended 30 September 2013 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 period 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 29 June 2015
G I King Esq
Director
Company Registration No. 00596765
KINGS LEISURE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
1
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).
1.2
Turnover
Turnover in the accounts relates to:
Commission received under the agreement for the sale of the business. The company is entitled to receive a commission payment for any mobile homes that were constructed at the point of sale but are sold after the sale of the business.
Aircraft flight income is recognised when the service is provided.
Rental income for residential caravans is recognised weekly in line with the duration of the tenant's residence.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and Buildings Freehold
nil
Land and buildings Leasehold
10% Straight Line on caravan bases
Plant and machinery
10% Straight Line
Aircraft
4% Straight Line
Motor vehicles
25% Straight Line
1.4
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.
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
KINGS LEISURE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 2 October 2012 & at 30 September 2013
21,129,946
Depreciation
At 2 October 2012
1,738,923
Charge for the period
466,850
At 30 September 2013
2,205,773
Net book value
At 30 September 2013
18,924,173
At 1 October 2012
19,391,023
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid
188,000 Ordinary shares of £1 each
188,000
188,000
4
Related party relationships and transactions
Advances and credits to directors
Advances and credits granted to the directors during the period are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
H W King Esq
4.00
1,022,166
108,045
40,823
1,171,034
1,022,166
108,045
40,823
1,171,034