East Park Leisure Limited - Accounts to registrar (filleted) - small 23.2.5
East Park Leisure Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| EAST PARK LEISURE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| EAST PARK LEISURE LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 27-29 Lumley Avenue |
| Skegness |
| Lincolnshire |
| PE25 2AT |
| BANKERS: |
| 51 Lumley Road |
| Skegness |
| Lincolnshire |
| PE253LP |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| STATEMENT OF FINANCIAL POSITION |
| 30 OCTOBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Capital redemption reserve | 11 |
| Retained earnings | 11 | 528,259 | 509,811 |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| 1. | STATUTORY INFORMATION |
| East Park Leisure Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements for the year ended 31 October 2017 are the first financial statements of East Park Leisure Limited prepared in accordance with FRS102. There are no adjustments required on transition. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Land has not been depreciated where the directors consider there is no diminution in value. |
| Revalued freehold property is not depreciated. |
| Stocks |
| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 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 period was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 October 2022 |
| NET BOOK VALUE |
| At 30 October 2022 |
| At 31 October 2021 |
| Cost or valuation at 30 October 2022 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2008 | 91,250 | - | - | 91,250 |
| Cost | 2,016,513 | 144,315 | 2,420 | 2,163,248 |
| 2,107,763 | 144,315 | 2,420 | 2,254,498 |
| The net book value of tangible fixed assets includes £ 44,663 (2021 - £ 59,550 ) in respect of assets held under hire purchase contracts. |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 343,182 | 404,640 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The bank overdraft and loan is secured by a Mortgage Charge given to Lloyds TSB Bank plc dated 6 December 2005. |
| EAST PARK LEISURE LIMITED (REGISTERED NUMBER: 05002103) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 NOVEMBER 2021 TO 30 OCTOBER 2022 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | 1p | 2 | 3 |
| The company has entered into an agreement to buy back 51 ordinary shares for a consideration of £398,025 by December 2023. |
| 11. | RESERVES |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 November 2021 | 509,811 | 599,583 |
| Profit for the period | - | - |
| Purchase of own shares | (134,924 | ) | - | 1 | (134,923 | ) |
| At 30 October 2022 | 618,032 |
| 12. | RELATED PARTY DISCLOSURES |
| As at the balance sheet date, the directors have provided an interest free loan to the company totalling £297,371 (2021: £302,758). |