Wilkie Leisure Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03494275 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Wilkie Leisure Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D W Wilkie

Mrs J Wilkie

SECRETARY:

Mrs J Wilkie

REGISTERED OFFICE:

The New Palace

Marine Promenade

New Brighton

Wirral

CH45 2JX

REGISTERED NUMBER:

03494275 (England and Wales)

ACCOUNTANTS:

Dufton Kellner Limited

Chartered Accountants

Barnston House

Beacon Lane

Heswall

Wirral

Merseyside

CH60 0EE

FIXED ASSETS

Tangible assets

4

1,774,261

1,803,529

Investments

5

15,564

15,564

1,789,825

1,819,093

CURRENT ASSETS

Stocks

11,729

26,634

Debtors

6

538,366

445,841

Cash at bank and in hand

167,427

167,392

717,522

639,867

CREDITORS

Amounts falling due within one year

7

301,744

388,244

NET CURRENT ASSETS

415,778

251,623

TOTAL ASSETS LESS CURRENT LIABILITIES

2,205,603

2,070,716

CREDITORS

Amounts falling due after more than one year

8

(713,095

)

(714,086

)

PROVISIONS FOR LIABILITIES

(143,331

)

(132,121

)

NET ASSETS

1,349,177

1,224,509

CAPITAL AND RESERVES

Called up share capital

4,074

4,074

Share premium

57,945

57,945

Non distributable reserve

11

831,514

846,839

Retained earnings

455,644

315,651

SHAREHOLDERS' FUNDS

1,349,177

1,224,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2020 and were signed on its behalf by:

D W Wilkie - Director

1.	STATUTORY INFORMATION

Wilkie Leisure Group Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 Profit and Loss Account,

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2018 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 October 2018

1,615,000

886,345

2,501,345

Additions

-

48,062

48,062

Disposals

-

(26,579

)

(26,579

)

At 30 September 2019

1,615,000

907,828

2,522,828

DEPRECIATION

At 1 October 2018

12,922

684,894

697,816

Charge for year

6,461

59,193

65,654

Eliminated on disposal

-

(14,903

)

(14,903

)

At 30 September 2019

19,383

729,184

748,567

NET BOOK VALUE

At 30 September 2019

1,595,617

178,644

1,774,261

At 30 September 2018

1,602,078

201,451

1,803,529

Cost or valuation at 30 September 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2007

1,287,333

-

1,287,333

Valuation in 2016

(335,000

)

-

(335,000

)

Cost

662,667

907,828

1,570,495

1,615,000

907,828

2,522,828

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

30.9.19

30.9.18

£

£

Cost

662,667

662,667

Aggregate depreciation

5,302

5,302

Value of land in freehold land and buildings

530,133

530,133

Freehold land and buildings were valued on an open market basis on 15 December 2016 by CB Richard Ellis Limited

.

5.	FIXED ASSET INVESTMENTS

The company owns 73% of the issued share capital of George Wilkie & Company (Wallasey) Limited (dormant)

and 78% of the issued share capital of West Coast Amusements Limited (dormant).

George Wilkie & Co Wallasey Limited (dormant) owns 100% of the issued equity share capital of Merseyside

Entertainments Limited (dormant) which is registered in England and Wales.

6.

DEBTORS

30.9.19

30.9.18

£

£

Amounts falling due within one year:

Other debtors

300

-

Directors' current accounts

440,110

344,975

Prepayments

4,992

3,830

445,402

348,805

Amounts falling due after more than one year:

S455 Tax

92,964

97,036

Aggregate amounts

538,366

445,841

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

58,000

55,000

Trade creditors

10,162

32,115

Amounts owed to group undertakings

48,610

48,610

Amounts owed to participating interests

100

100

Taxation and social security

83,893

184,725

Other creditors

100,979

67,694

301,744

388,244

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans

527,099

589,086

Taxation and social security

60,996

-

Other creditors

125,000

125,000

713,095

714,086

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

295,099

369,086

Preference shares

125,000

125,000

420,099

494,086

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.19

30.9.18

£

£

Within one year

-

2,277

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.19

30.9.18

£

£

Bank loans

585,099

644,086

The bank loans and overdraft are secured by a legal charge over the New Palace Amusement Park, New Brighton

dated 31 July 2008, a legal charge on the life of DW Wilkie and a £100,000 personal guarantee. There is also a

cross guarantee and debenture dated 5 February 2008 between Wilkie Leisure Group Limited and George Wilkie

& Co (Wallasey) Limited.

11.

RESERVES

Non

distributable

reserve

£

At 1 October 2018

846,839

Reallocation of reserves

(15,325

)

At 30 September 2019

831,514

The non distributable reserve represents unrealised gains on the property revaluation.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2019 and

30 September 2018:

30.9.19

30.9.18

£

£

D W Wilkie

Balance outstanding at start of year

344,975

351,345

Amounts advanced

120,495

6,295

Amounts repaid

(25,359

)

(12,665

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

440,111

344,975

During the year, interest free, unsecured advances were made to a director, and were repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Wilkie Leisure Group Limited for the year ended 30 September 2019 which comprise the Profit

and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wilkie Leisure Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wilkie Leisure Group Limited and state those matters that we have agreed to state to the Board of Directors of Wilkie Leisure Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wilkie Leisure Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wilkie Leisure Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wilkie Leisure Group Limited. You consider that Wilkie Leisure Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wilkie Leisure Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dufton Kellner Limited

Chartered Accountants

Barnston House

Beacon Lane

Heswall

Wirral

Merseyside

CH60 0EE

22 April 2020