Company Registration No. 03840702 (England and Wales)
ITS LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
ITS LEISURE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
ITS LEISURE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2021
30 September 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,161
13,546
Current assets
Stocks
1,912
1,420
Debtors
4
180
Cash at bank and in hand
3,907
1,057
5,999
2,477
Creditors: amounts falling due within one year
5
(13,428)
(10,385)
Net current liabilities
(7,429)
(7,908)
Total assets less current liabilities
2,732
5,638
Creditors: amounts falling due after more than one year
6
(17,909)
(19,997)
Net liabilities
(15,177)
(14,359)
Capital and reserves
Profit and loss reserves
(15,177)
(14,359)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ITS LEISURE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2021
30 September 2021
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 29 April 2022
Miss C Turner
Director
Company Registration No. 03840702
The notes on pages 4 to 6 form part of these financial statements
ITS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 4 -
1
Accounting policies
Company information
ITS Leisure Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 5-7, 23 Wood Road, Kingswood, Bristol, England, BS15 8DT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25 % on reduccing balance
Equipment
25 % on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
8
9
ITS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2020 and 30 September 2021
31,431
156,451
187,882
Depreciation
At 1 October 2020
27,224
147,112
174,336
Depreciation charged in the year
1,053
2,332
3,385
At 30 September 2021
28,277
149,444
177,721
Carrying amount
At 30 September 2021
3,154
7,007
10,161
At 30 September 2020
4,207
9,339
13,546
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
180
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
2,088
1,911
Trade creditors
6,615
Taxation and social security
59
Other creditors
4,725
8,415
13,428
10,385
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
17,909
19,997
ITS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
7
Ultimate Controlling Party
The ultimate controlling party is Miss C Turner.