Company registration number 08643267 (England and Wales)
PLEASURE LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
PLEASURE LEISURE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PLEASURE LEISURE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
1,564,866
1,564,866
Current assets
Cash at bank and in hand
214,705
214,705
Creditors: amounts falling due within one year
5
(1,749,280)
(1,747,870)
Net current liabilities
(1,534,575)
(1,533,165)
Net assets
30,291
31,701
Capital and reserves
Called up share capital
8
8
Profit and loss reserves
30,283
31,693
Total equity
30,291
31,701
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
The financial statements were approved by the board of directors and authorised for issue on 19 December 2022 and are signed on its behalf by:
Mr D Fisher
Director
Company Registration No. 08643267
PLEASURE LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Pleasure Leisure Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
14 Scotswood Road, Newcastle Upon Tyne, Tyne and Wear, NE4 7JB.
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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The
financial statements
present information about the company as an individual entity and not about its group
.
1.2
Fixed asset investments
Fixed asset investments are stated at cost.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
PLEASURE LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Fixed asset investments
2022
2021
£
£
Investments in subsidiaries
1,564,866
1,564,866
4
Subsidiaries
Details of the company's subsidiaries at 31 March 2022 are as follows:
Name of undertaking
Nature of business
Class of
% Held
shares held
Direct
Copenhagen 1801 Limited
Bars and nightclubs
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Copenhagen 1801 Limited
3,457,597
2,311,451
5
Creditors: amounts falling due within one year
2022
2021
£
£
Other borrowings
6
30,000
30,000
Trade creditors
637
637
Amounts owed to group undertakings
1,278,745
1,446,426
Directors loan accounts
438,947
269,856
Accruals and deferred income
951
951
1,749,280
1,747,870
PLEASURE LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
6
Loans and overdrafts
2022
2021
£
£
Other loans
30,000
30,000
Payable within one year
30,000
30,000
Other creditors are secured by way of a fixed and floating charge over the assets of the company.