ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

MOSS WOOD LIMITED - Company Information

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Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.falseEntertainment2022-01-0111984truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09985024 2022-01-01 2022-12-31 09985024 2021-01-01 2021-12-31 09985024 2022-12-31 09985024 2021-12-31 09985024 c:Director1 2022-01-01 2022-12-31 09985024 c:Director3 2022-01-01 2022-12-31 09985024 c:Director4 2022-01-01 2022-12-31 09985024 c:Director5 2022-01-01 2022-12-31 09985024 c:RegisteredOffice 2022-01-01 2022-12-31 09985024 d:PlantMachinery 2022-01-01 2022-12-31 09985024 d:PlantMachinery 2022-12-31 09985024 d:PlantMachinery 2021-12-31 09985024 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:MotorVehicles 2022-01-01 2022-12-31 09985024 d:MotorVehicles 2022-12-31 09985024 d:MotorVehicles 2021-12-31 09985024 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:FurnitureFittings 2022-01-01 2022-12-31 09985024 d:FurnitureFittings 2022-12-31 09985024 d:FurnitureFittings 2021-12-31 09985024 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:OfficeEquipment 2022-01-01 2022-12-31 09985024 d:OfficeEquipment 2022-12-31 09985024 d:OfficeEquipment 2021-12-31 09985024 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 09985024 d:OtherPropertyPlantEquipment 2022-12-31 09985024 d:OtherPropertyPlantEquipment 2021-12-31 09985024 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09985024 d:ComputerSoftware 2022-12-31 09985024 d:ComputerSoftware 2021-12-31 09985024 d:CurrentFinancialInstruments 2022-12-31 09985024 d:CurrentFinancialInstruments 2021-12-31 09985024 d:Non-currentFinancialInstruments 2022-12-31 09985024 d:Non-currentFinancialInstruments 2021-12-31 09985024 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09985024 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09985024 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09985024 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09985024 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09985024 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 09985024 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09985024 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 09985024 d:ShareCapital 2022-12-31 09985024 d:ShareCapital 2021-12-31 09985024 d:RetainedEarningsAccumulatedLosses 2022-12-31 09985024 d:RetainedEarningsAccumulatedLosses 2021-12-31 09985024 c:OrdinaryShareClass1 2022-01-01 2022-12-31 09985024 c:OrdinaryShareClass1 2022-12-31 09985024 c:FRS102 2022-01-01 2022-12-31 09985024 c:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 09985024 c:FullAccounts 2022-01-01 2022-12-31 09985024 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09985024 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-01-01 2022-12-31 09985024 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 09985024 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-12-31 09985024 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09985024 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 09985024 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 09985024 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 09985024 d:ComputerSoftware d:OwnedIntangibleAssets 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09985024









MOSS WOOD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022
 
MOSS WOOD LIMITED
 
 
COMPANY INFORMATION


Directors
Mr T H C Blofeld 
Mr J W P Hall 
Mr R J S Miller 
Mr A R Horwood 




Registered number
09985024



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ




 
MOSS WOOD LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11

 
MOSS WOOD LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MOSS WOOD LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moss Wood Limited for the year ended 31 December 2022 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Moss Wood Limited, as a body, in accordance with the terms of our engagement letter dated 13 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Moss Wood Limited  and state those matters that we have agreed to state to the Board of directors of Moss Wood Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moss Wood Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Moss Wood 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 loss of Moss Wood Limited. You consider that Moss Wood Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Moss Wood 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

27 September 2023
Page 1
 
MOSS WOOD LIMITED
REGISTERED NUMBER: 09985024

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,742
11,266

Tangible assets
 5 
7,120,347
6,954,771

  
7,127,089
6,966,037

Current assets
  

Stocks
  
44,700
51,500

Debtors: amounts falling due within one year
 6 
374,334
191,246

Cash at bank and in hand
  
327,735
647,999

  
746,769
890,745

Creditors: amounts falling due within one year
 7 
(1,875,699)
(1,386,037)

Net current liabilities
  
 
 
(1,128,930)
 
 
(495,292)

Total assets less current liabilities
  
5,998,159
6,470,745

Creditors: amounts falling due after more than one year
 8 
(5,476,711)
(5,264,396)

Provisions for liabilities
  

Deferred tax
 10 
-
(11,965)

Net assets
  
521,448
1,194,384


Capital and reserves
  

Called up share capital 
 11 
1,500,000
1,500,000

Profit and loss account
  
(978,552)
(305,616)

  
521,448
1,194,384


Page 2
 
MOSS WOOD LIMITED
REGISTERED NUMBER: 09985024
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2023.






Mr A R Horwood
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The entity is a company limited by shares, incorporated in the United Kingdon. The registered office address of the company is 7 The Close, Norwich, Norfolk, NR1 4DJ. 
The principal place of business is Cheshire and the company's principal activity during the year is that of the operation of a theme park.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors and the Company's parent undertaking have confirmed that they will continue to support the Company and will not request repayment of their loan accounts until there are adequate funds from which to do so.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of theme park tickets, annual passes, group and party bookings and shop and catering income receivable during the year, exclusive of Value Added Tax. Revenue is recognised at the point of sale.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
 
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3-4 year straight line
Motor vehicles
-
3 year straight line
Fixtures and fittings
-
3 year straight line
Office equipment
-
3-4 year straight line
Play structures
-
3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 119 (2021 - 84).


4.


Intangible assets




Computer software

£



Cost


At 1 January 2022
22,624



At 31 December 2022

22,624



Amortisation


At 1 January 2022
11,357


Charge for the year on owned assets
4,525



At 31 December 2022

15,882



Net book value



At 31 December 2022
6,742



At 31 December 2021
11,266



Page 7
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Play structures
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2022
190,610
13,300
14,864
28,587
6,933,900
7,181,261


Additions
5,320
-
-
-
329,075
334,395



At 31 December 2022

195,930
13,300
14,864
28,587
7,262,975
7,515,656



Depreciation


At 1 January 2022
48,045
3,025
5,844
13,224
156,352
226,490


Charge for the year on owned assets
46,654
3,325
3,716
7,147
107,977
168,819



At 31 December 2022

94,699
6,350
9,560
20,371
264,329
395,309



Net book value



At 31 December 2022
101,231
6,950
5,304
8,216
6,998,646
7,120,347



At 31 December 2021
142,565
10,275
9,020
15,363
6,777,548
6,954,771


6.


Debtors

2022
2021
£
£


Trade debtors
15
-

Other debtors
-
131,615

Prepayments and accrued income
65,354
59,631

Deferred taxation
308,965
-

374,334
191,246


Page 8
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
259,007
231,216

Trade creditors
841,886
621,025

Other taxation and social security
59,668
18,255

Other creditors
217,106
304,821

Accruals and deferred income
498,032
210,720

1,875,699
1,386,037



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
2,040,430
2,202,956

Other loans
3,436,281
3,061,440

5,476,711
5,264,396


The following liabilities were secured:

2022
2021
£
£



Bank loans
2,299,437
2,434,172

Other loans
3,436,280
3,064,185

5,735,717
5,498,357

Details of security provided:

The bank loans and loans from Directors are secured by a fixed and floating charge over assets of the company.

Page 9
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
259,007
231,216


259,007
231,216

Amounts falling due 1-2 years

Bank loans
259,007
259,007


259,007
259,007

Amounts falling due 2-5 years

Bank loans
1,781,422
1,943,949

Other loans
3,436,281
3,061,440


5,217,703
5,005,389


5,735,717
5,495,612



10.


Deferred taxation




2022


£






At beginning of year
(11,965)


Charged to profit or loss
320,930



At end of year
308,965

Page 10
 
MOSS WOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
 
10.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(478,747)
(11,965)

Tax losses carried forward
787,712
-

308,965
(11,965)


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1,500,000 Ordinary Shares shares of £1.00 each
1,500,000
1,500,000



12.


Capital commitments


At 31 December 2022 the Company had capital commitments as follows:

2022
2021
£
£


Contracted for but not provided in these financial statements
-
53,489

-
53,489


13.Commitments, guarantees and contingencies

At 31 December 2022, the company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £4,124,032 (2021: £4,338,288).


14.


Related party transactions

As at 31 December 2022, the balance due to a director was £1,850,000 (2021: £1,850,000). The balance is included in Note 8, creditors falling due in more than 1 year. Interest is charged at a rate of 6.66% per annum. Accrued interest totalled £123,210 for the year.  
As at 31 December 2022, the balance due to a shareholder was £225,000 (2021: £225,000). The balance is included in Note 8, creditors falling due in more than 1 year. Interest is charged at a rate of 6.66% per annum. Accrued interest totalled £14,985 for the year.

 
Page 11