REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
WATER PARK LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
SHAREHOLDERS' FUNDS |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Sinking |
fund |
Fixtures | fixtures |
Plant and | and | and fitt |
machinery | fittings | ings | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments |
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 |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 16,691 | - |
Other creditors |
Accrued expenses and deferred |
income |
7. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Other provisions |
Deferred income | 279,742 | 307,837 |
Lease dilapidation provision | 72,170 | 89,817 |
Other |
provisions |
£ |
Balance at 1 January 2021 |
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 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
The company had the following commitments in respect of non-cancellable operating leases. |
2021 | 2020 |
Less than one year | 4,620 | 4,620 |
Between 2 and 5 years | 4,620 | 9,239 |
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. |