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REGISTERED NUMBER: 03986248 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

WATER PARK LIMITED

WATER PARK LIMITED (REGISTERED NUMBER: 03986248)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WATER PARK LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: J P Hartley
A Wright
E Goldthorpe



REGISTERED OFFICE: Sceptre House
Sceptre Way
Bamber Bridge
Preston
Lancashire
PR5 6AW



REGISTERED NUMBER: 03986248 (England and Wales)



AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Royal Bank of Scotland
NOE Corporate Banking Centre 1
Ashton House
PO Box 666
Waterloo Street
Bolton
BL1 8FH

WATER PARK LIMITED (REGISTERED NUMBER: 03986248)

STATEMENT OF FINANCIAL POSITION
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,181 183,159

CURRENT ASSETS
Debtors 5 165,839 208,209
Cash at bank 106,296 43,462
272,135 251,671
CREDITORS
Amounts falling due within one year 6 66,403 37,175
NET CURRENT ASSETS 205,732 214,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,913

397,655

PROVISIONS FOR LIABILITIES 7 351,912 397,654
NET ASSETS 1 1

CAPITAL AND RESERVES
Called up share capital 8 1 1
SHAREHOLDERS' FUNDS 1 1

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





J P Hartley - Director


WATER PARK LIMITED (REGISTERED NUMBER: 03986248)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Water Park 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
The company relies upon the Eric Wright Charitable Trust to fund the shortfall between its operating expenses and its third party income. The company was formed to operate the Water Park in line with the objectives of The Eric Wright Charitable Trust. The Trust is obligated through its stated objectives to fund the shortfall between the operating expenses of Water Park Limited and its income. This is in addition to providing financial assistance to individuals attending the courses. As The Eric Wright Charitable Trust remains committed to this expenditure, the directors consider that going concern remains an appropriate basis for the preparation of these accounts.

Turnover
Turnover represents net invoiced sales (excluding value added tax), and charitable grants received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - over its useful economic life
Fixtures and fittings - over its useful economic life

Following a review of the accounting policies, management believe that the depreciation rates detailed above represents a fairer estimation technique. Consequently, this method has been applied from 1 January 2021.

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 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 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.

WATER PARK LIMITED (REGISTERED NUMBER: 03986248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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 18 (2020 - 19 ) .

4. TANGIBLE FIXED ASSETS
Sinking
fund
Fixtures fixtures
Plant and and and fitt
machinery fittings ings Totals
£    £    £    £   
COST
At 1 January 2021 325,451 142,191 164,960 632,602
Additions 27,308 3,777 - 31,085
At 31 December 2021 352,759 145,968 164,960 663,687
DEPRECIATION
At 1 January 2021 244,468 79,710 125,265 449,443
Charge for year 31,845 17,122 19,096 68,063
At 31 December 2021 276,313 96,832 144,361 517,506
NET BOOK VALUE
At 31 December 2021 76,446 49,136 20,599 146,181
At 31 December 2020 80,983 62,481 39,695 183,159

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 16,624 5,119
Amounts owed by group undertakings 72,174 89,821
Other debtors 95 2,808
VAT - 22,401
Prepayments 76,946 88,060
165,839 208,209

WATER PARK LIMITED (REGISTERED NUMBER: 03986248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 7,685 11,719
Amounts owed to group undertakings 255 191
Social security and other taxes 11,570 8,819
VAT 16,691 -
Other creditors 4,964 3,888
Accrued expenses and deferred
income 25,238 12,558
66,403 37,175

7. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Other provisions
Deferred income 279,742 307,837
Lease dilapidation provision 72,170 89,817
351,912 397,654

Other
provisions
£   
Balance at 1 January 2021 397,654
Increase/(Decrease) in
deferred income (27,983 )
Capital contribution released
to P&L (112 )
Provision for lease
dilapidation 74,000
Lease dilapidation released (91,647 )
Balance at 31 December 2021 351,912

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

Profit for the year -
At 31 December 2021 -

WATER PARK LIMITED (REGISTERED NUMBER: 03986248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst

11. OTHER FINANCIAL COMMITMENTS

The company had the following commitments in respect of non-cancellable operating leases.

20212020
Less than one year4,6204,620
Between 2 and 5 years4,6209,239

12. RELATED PARTY DISCLOSURES

As the company is a wholly owned subsidiary it has claimed the exemption from the requirement to disclose transactions with its parent company.

Certain invoices were paid on behalf of the company by Henmead Limited and its subsidiaries and recharged. Henmead Limited is a company under common control. These have been included in amounts owed to group undertakings and will be repaid in the current year.

13. ULTIMATE PARENT COMPANY

The share in the company is owned by the Eric Wright Charitable Trust.