REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31 January 2021 |
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G and A Leisure Limited |
REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31 January 2021 |
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for |
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G and A Leisure Limited |
G and A Leisure Limited (Registered number: 03967460) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2021 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 5 |
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Statement of Comprehensive Income | 9 |
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Balance Sheet | 10 |
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Statement of Changes in Equity | 11 |
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Cash Flow Statement | 12 |
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Notes to the Cash Flow Statement | 13 |
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Notes to the Financial Statements | 14 |
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G and A Leisure Limited |
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Company Information |
for the Year Ended 31 January 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Cross Chambers |
9 High Street |
Newtown |
Powys |
SY16 2NY |
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BANKERS: |
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28 Regent Street |
Wrexham |
LL11 1SE |
G and A Leisure Limited (Registered number: 03967460) |
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Strategic Report |
for the Year Ended 31 January 2021 |
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The directors present their strategic report for the year ended 31 January 2021. |
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REVIEW OF BUSINESS |
The company has traded through unprecedented times with the Covid 19 pandemic, and as with most other companies in the leisure and hospitality sector, suffered a dramatic impact on our trading figures due to restrictions through various lockdowns.Turnover has fallen from £14,099,043 down to £7,149,992. |
The company has taken great care in minimising any financial exposure, and has been helped by the availability of hospitality grants and the opportunity to use the employment furlough schemes. |
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Results and performance |
The results of the company for the year, as set out on pages 9 to 22, show a loss before taxation of £405,075 (2020: profit £3,276,238) The shareholders funds total £11,619,130 (2020: £11,985,189) |
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Key performance indicators (KPI's) |
The company monitors the progress of its performance by reference to the following KPI's: |
2021 2020 |
Gross profit ratio 49.1% 47% |
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The company monitors responses from clients in respect of customer satisfaction to measure the success of its leisure and hospitality package delivery. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
The management of the business and the execution of the company's strategy are subject to a number of risks. |
In the short term the Covid 19 pandemic has been identified as a significant risk and is a major focus for management on a daily basis. Regular reviews and meetings at both board and operational management levels are held and actioned. The directors have complete confidence that every step is being taken to mitigate the impact of the pandemic within their control. |
The company is financially well positioned to deal with any such further restrictions, and takes great confidence from the support received from both staff and clients. |
The Directors continue to monitor the performances of each of its commercial activities and are confident that sufficient controls are in place to positively react to any changes that could have an adverse impact. |
The company's principal financial instruments comprise of bank balances, bank overdraft facilities, trade creditors,trade debtors and lease agreements. The main purpose of these instruments is to raise finance for working capital for the company's operations. |
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ON BEHALF OF THE BOARD: |
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17 January 2022 |
G and A Leisure Limited (Registered number: 03967460) |
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Report of the Directors |
for the Year Ended 31 January 2021 |
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The directors present their report with the financial statements of the company for the year ended 31 January 2021. |
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PRINCIPAL ACTIVITIES |
The principal activities of the company in the year under review were those of breeding and rearing of birds for sale and shooting and provision of accommodation, and farming. |
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DIVIDENDS |
The total distribution of dividends for the year ended 31 January 2021 will be £
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FUTURE DEVELOPMENTS |
The focus will be to develop business growth post Covid 19 pandemic with both existing and new clients, to seek out new opportunities in new market segments and introduce new technologies to keep the company at the forefront of our market sector. |
The company recognizes that delivering customer service is paramount to its success and this will continue to be a key objective, as well as improving efficiencies wherever possible. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 February 2020 to the date of this report. |
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Other changes in directors holding office are as follows: |
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Miss AL Evans 4th February 2021 |
Mr WC Evans 4th February 2021 |
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FINANCIAL INSTRUMENTS |
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The company does not enter into any formally designated hedging arrangements. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
G and A Leisure Limited (Registered number: 03967460) |
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Report of the Directors |
for the Year Ended 31 January 2021 |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Morgan Griffiths LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Shareholders of |
G and A Leisure Limited |
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Opinion |
We have audited the financial statements of G and A Leisure Limited (the 'company') for the year ended 31 January 2021 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 January 2021 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Shareholders of |
G and A Leisure Limited |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Shareholders of |
G and A Leisure Limited |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
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-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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-we identified the laws and regulations applicable to the company through discussions with management, and from our knowledge and experience of the leisure and hospitality industry; |
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-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including relevant legislation such as the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation; |
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-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. |
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We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
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-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
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-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
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To address the risk of fraud through management bias and override of controls, we: |
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-performed analytical procedures to identify any unusual or unexpected relationships; |
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-reviewed nominal ledgers and tested journal entries reports to identify unusual transactions; |
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-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. |
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In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
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-agreeing financial statement disclosures to underlying supporting documentation; |
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-held discussions with those charged with governance; |
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-enquiring of management as to actual and potential litigation and claims; |
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-reviewing correspondence with HMRC. |
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Report of the Independent Auditors to the Shareholders of |
G and A Leisure Limited |
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There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
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Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's shareholders, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's shareholders those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's shareholders as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditor |
Cross Chambers |
9 High Street |
Newtown |
Powys |
SY16 2NY |
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G and A Leisure Limited (Registered number: 03967460) |
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Statement of Comprehensive |
Income |
for the Year Ended 31 January 2021 |
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31.1.21 | 31.1.20 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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(946,983 | ) | 3,201,477 |
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Other operating income |
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OPERATING (LOSS)/PROFIT | 4 | ( |
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Interest payable and similar expenses | 5 |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit | 6 | ( |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
( |
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G and A Leisure Limited (Registered number: 03967460) |
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Balance Sheet |
31 January 2021 |
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31.1.21 | 31.1.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
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Investments | 9 |
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CURRENT ASSETS |
Stocks | 10 |
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Debtors | 11 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 12 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
13 |
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PROVISIONS FOR LIABILITIES | 17 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 18 |
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Retained earnings | 19 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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G and A Leisure Limited (Registered number: 03967460) |
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Statement of Changes in Equity |
for the Year Ended 31 January 2021 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1 February 2019 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 31 January 2020 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - | ( |
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Balance at 31 January 2021 |
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G and A Leisure Limited (Registered number: 03967460) |
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Cash Flow Statement |
for the Year Ended 31 January 2021 |
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31.1.21 | 31.1.20 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
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Interest paid | ( |
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Interest element of hire purchase
payments paid |
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Tax paid | ( |
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Net cash from operating activities |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
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Sale of tangible fixed assets |
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Sale of fixed asset investments |
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Net cash from investing activities |
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Cash flows from financing activities |
New loans in year |
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Loan repayments in year | ( |
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Capital repayments in year | ( |
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Amount introduced by directors | - | 190,181 |
Amount withdrawn by directors | (12,948 | ) | - |
Equity dividends paid | ( |
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Net cash from financing activities | ( |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at
beginning of year |
2 |
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61,680 |
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Cash and cash equivalents at end of
year |
2 |
1,609,095 |
556,087 |
G and A Leisure Limited (Registered number: 03967460) |
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Notes to the Cash Flow Statement |
for the Year Ended 31 January 2021 |
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1. |
RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
31.1.21 | 31.1.20 |
£ | £ |
(Loss)/profit before taxation | ( |
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Depreciation charges |
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Loss/(profit) on disposal of fixed assets |
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( |
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Finance costs | 21,804 | 70,962 |
165,703 | 1,619,086 |
(Increase)/decrease in stocks | ( |
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Decrease in trade and other debtors |
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Increase/(decrease) in trade and other creditors |
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( |
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Cash generated from operations |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
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Year ended 31 January 2021 |
31.1.21 | 1.2.20 |
£ | £ |
Cash and cash equivalents | 1,609,095 | 556,087 |
Year ended 31 January 2020 |
31.1.20 | 1.2.19 |
£ | £ |
Cash and cash equivalents | 556,087 | 74,623 |
Bank overdrafts |
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( |
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556,087 | 61,680 |
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3. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS |
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At 1.2.20 | Cash flow | At 31.1.21 |
£ | £ | £ |
Net cash |
Cash at bank | 556,087 | 1,053,008 | 1,609,095 |
556,087 |
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1,609,095 |
Debt |
Finance leases | (30,634 | ) | 22,634 | (8,000 | ) |
Debts falling due within 1 year | (147,105 | ) | (49,999 | ) | (197,104 | ) |
Debts falling due after 1 year | (1,531,249 | ) | 150,801 | (1,380,448 | ) |
(1,708,988 | ) | 123,436 | (1,585,552 | ) |
Total | (1,152,901 | ) | 1,176,444 | 23,543 |
G and A Leisure Limited (Registered number: 03967460) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2021 |
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1. | STATUTORY INFORMATION |
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G and A Leisure Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents sales of goods recognised on a contractual basis excluding value added tax. |
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Revenue Recognition |
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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The company follows a programme of regular refurbishment and maintenance of its properties, in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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G and A Leisure Limited (Registered number: 03967460) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
31.1.21 | 31.1.20 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
31.1.21 | 31.1.20 |
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Direct Labour | 88 | 111 |
Administration | 7 | 12 |
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31.1.21 | 31.1.20 |
£ | £ |
Directors' remuneration |
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G and A Leisure Limited (Registered number: 03967460) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
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3. | EMPLOYEES AND DIRECTORS - continued |
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The company's key management personnel are considered to be the directors. |
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4. | OPERATING (LOSS)/PROFIT |
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The operating loss (2020 - operating profit) is stated after charging/(crediting): |
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31.1.21 | 31.1.20 |
£ | £ |
Other operating leases |
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Depreciation - owned assets |
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Depreciation - assets on hire purchase contracts |
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Loss/(profit) on disposal of fixed assets |
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( |
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Auditors' remuneration |
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Auditors' remuneration for non audit work |
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Foreign exchange differences |
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5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.1.21 | 31.1.20 |
£ | £ |
Bank loan interest |
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Hire purchase |
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( |
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6. | TAXATION |
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Analysis of the tax (credit)/charge |
The tax (credit)/charge on the loss for the year was as follows: |
31.1.21 | 31.1.20 |
£ | £ |
Current tax: |
UK corporation tax |
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|
Tax refund | (1,860 | ) | - |
Total current tax | ( |
) |
|
|
Deferred tax | ( |
) |
|
Tax on (loss)/profit | ( |
) |
|
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
6. | TAXATION - continued |
|
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
|
31.1.21 | 31.1.20 |
£ | £ |
(Loss)/profit before tax | ( |
) |
|
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of |
( |
) |
|
|
Effects of: |
Expenses not deductible for tax purposes |
|
|
Income not taxable for tax purposes |
|
( |
) |
Depreciation in excess of capital allowances |
|
|
|
|
|
Total tax (credit)/charge | (71,016 | ) | 201,189 |
|
7. | DIVIDENDS |
31.1.21 | 31.1.20 |
£ | £ |
Interim |
|
|
|
8. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 February 2020 |
|
|
|
Additions |
|
|
|
Disposals | ( |
) |
|
( |
) |
At 31 January 2021 |
|
|
|
DEPRECIATION |
At 1 February 2020 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
|
( |
) |
At 31 January 2021 |
|
|
|
NET BOOK VALUE |
At 31 January 2021 |
|
|
|
At 31 January 2020 |
|
|
|
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
8. | TANGIBLE FIXED ASSETS - continued |
|
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2020 |
|
|
|
|
Additions |
|
|
|
|
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 January 2021 |
|
|
|
|
DEPRECIATION |
At 1 February 2020 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 January 2021 |
|
|
|
|
NET BOOK VALUE |
At 31 January 2021 |
|
|
|
|
At 31 January 2020 |
|
|
|
|
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2020 |
|
|
|
Transfer to ownership | (22,200 | ) | (99,000 | ) | (121,200 | ) |
At 31 January 2021 |
|
|
|
DEPRECIATION |
At 1 February 2020 |
|
|
|
Charge for year |
|
|
|
Transfer to ownership | (6,986 | ) | (40,476 | ) | (47,462 | ) |
At 31 January 2021 |
|
|
|
NET BOOK VALUE |
At 31 January 2021 |
|
|
|
At 31 January 2020 |
|
|
|
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
9. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 February 2020 |
and 31 January 2021 |
|
NET BOOK VALUE |
At 31 January 2021 |
|
At 31 January 2020 |
|
|
10. | STOCKS |
31.1.21 | 31.1.20 |
£ | £ |
Stocks |
|
|
|
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Trade debtors |
|
|
Other debtors | 128,410 | 1,000 |
Tax |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Bank loans and overdrafts (see note 14) |
|
|
Hire purchase contracts (see note 15) |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | 31,192 | - |
Other Creditors |
|
|
Directors' current accounts | 1,386 | 14,334 |
Accrued expenses |
|
|
|
|
|
13. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Bank loans (see note 14) |
|
|
Hire purchase contracts (see note 15) |
|
|
|
|
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
14. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
31.1.21 | 31.1.20 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
|
|
|
Amounts falling due between one and two years: |
Bank Loans 1-2 years | 147,105 | 147,105 |
|
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 756,917 | 907,718 |
|
Interest rates on the loans above are: |
|
Interest rate |
Variable rates ranging from 1.2% to 1.5% above base rate. |
|
|
|
15. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Hire purchase contracts |
31.1.21 | 31.1.20 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
16. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.1.21 | 31.1.20 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts | 8,000 | 30,634 |
|
|
|
The bank loan and overdraft facility are secured as follows:- |
|
A first legal charge over commercial business unit known as land at Bettws Hall, Bettws, Newtown, Powys. SY16 3DS dated 09/12/14. |
|
A first legal charge over freehold commercial land only at Pencaenion, Abermule, Montgomery, SY15 6JJ dated 16/09/16. |
|
A first legal charge over commercial freehold farm known as Bryn Cliefion Hall, Mallwyd, Machynlleth, Powys. SY20 9HW dated 09/12/14. |
|
A first legal charge over commercial freehold business unit known as Bettws Hall House, Bettws Cedewain, Newtown, Powys. SY16 3DS dated 09/12/14. |
|
A first legal charge over commercial freehold farm known as Land & Buildings Glanbechan, Bettws Cedewain, Newtown, SY16 3BN dated 10/06/16. |
|
An unlimited debenture dated 09/12/14 incorporating a fixed and floating charge. |
|
17. | PROVISIONS FOR LIABILITIES |
31.1.21 | 31.1.20 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 215,237 | 284,393 |
|
Deferred |
tax |
£ |
Balance at 1 February 2020 |
|
Credit to Statement of Comprehensive Income during year | ( |
) |
Balance at 31 January 2021 |
|
|
18. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.21 | 31.1.20 |
value: | £ | £ |
|
Ordinary | 1 | 100 | 100 |
G and A Leisure Limited (Registered number: 03967460) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
|
|
19. | RESERVES |
Retained |
earnings |
£ |
|
At 1 February 2020 |
|
Deficit for the year | ( |
) |
Dividends | ( |
) |
At 31 January 2021 |
|
|
20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The directors loan account is in credit at the year end £1,386 (2020: £14,334) |
|
21. | RELATED PARTY DISCLOSURES |
|
The company paid rent of £30,000 (2020: £10,000) to Mr and Mrs Evans in relation to the lease of the Bull & Heifer Inn. |
|
During the year the company paid rent for the use of land owned by Mr. T G Evans. The charge for the year included in rent in the profit and loss account amounted to £10,800 (2020: £10,800). At the year end there was no outstanding liability (2020:£nil) |