REGISTERED NUMBER: |
BOWLAND LAKES LEISURE VILLAGE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2022 |
REGISTERED NUMBER: |
BOWLAND LAKES LEISURE VILLAGE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2022 |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
BOWLAND LAKES LEISURE VILLAGE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
BOWLAND LAKES LEISURE VILLAGE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2022 |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
ABRIDGED BALANCE SHEET |
31 JANUARY 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2022 |
1. | STATUTORY INFORMATION |
Bowland Lakes Leisure Village Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the neared £. |
Turnover |
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts and VAT. |
Tangible fixed assets |
Land and buildings | - |
Freehold land is not depreciated. |
The gain or loss arising on the disposal of an asset is determined as the difference between sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises purchase price and all costs incurred in bringing the stocks to their present location and condition. |
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
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. |
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. |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade debtors, other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including trade creditors, other creditors and amounts due to fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
2. | ACCOUNTING POLICIES - continued |
Government grants |
Government grants are recognised at fair value where there is a reasonable assurance that the grant will be received and the company will comply with the attached conditions. Government grants are deferred in the statement of profit and loss over the period necessary to match them with the costs that they are intended to compensate. The company received UK government grants in relation to the Coronavirus Job Retention Scheme and also received grants from local authorities due to enforced park closures following local and UK wide restrictions. All grants have been presented as other operating income on a separate line in the statement of profit and loss. |
Going concern |
The financial statements have been prepared on a going concern basis. The company is part of a large profitable group, which will continue to give support and does not intend to place the company under any undue pressure to repay any intercompany loans. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2021 |
and 31 January 2022 |
DEPRECIATION |
At 1 February 2021 |
Charge for year |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
BOWLAND LAKES LEISURE VILLAGE LIMITED (REGISTERED NUMBER: 11277927) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption under Financial Reporting Standard 102 (Section 33.1A) from disclosing transactions with group companies where consolidated financial statements are prepared. |
Included in the security of the Group credit facilities with HSBC, of which the company is a party to, are the assets owned personally by Mr. John Morphet. |
7. | ULTIMATE CONTROLLING PARTY |
The directors consider the ultimate parent undertaking to be Pure Leisure Group Limited, a company incorporated in the United Kingdom. The registered office address for the parent company is: |
South Lakeland House |
Main A6 |
Yealand Redmayne |
Carnforth |
Lancashire |
LA5 9RN. |
The ultimate controlling party is John Morphet by way of his controlling interest in the ultimate parent undertaking Pure Leisure Group Limited. |
The smallest and largest group in which the results of the company are consolidated is that headed by Pure Leisure Group Limited. The consolidated accounts of this group are available to the public and may be obtained from: |
The Registrar of Companies |
Companies House |
Crown Way |
Cardiff |
CF14 3UZ. |