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REGISTERED NUMBER: 01860954 (England and Wales)













Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2022

for

Tyne Tees Entertainments Limited and
Subsidiary Company

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Tyne Tees Entertainments Limited and
Subsidiary Company

Company Information
for the Year Ended 31 December 2022







DIRECTORS: G Caris
Mrs E G Caris
G Caris (Jnr)





SECRETARY: Mrs E G Caris





REGISTERED OFFICE: 10 The Esplanade
Redcar
Cleveland
TS10 3AA





REGISTERED NUMBER: 01860954 (England and Wales)





AUDITORS: Anderson Barrowcliff LLP
Statutory Auditor
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Group Strategic Report
for the Year Ended 31 December 2022

The directors present their strategic report of the company and the group for the year ended 31 December 2022.

REVIEW OF BUSINESS
The principal activities of the group in the year under review were the operation of amusement arcades, the operation of an indoor soft play centre and an ice cream parlour.

The financial position of the group was significantly impacted by the effects of the coronavirus pandemic over the last two years. This year has seen an increase in turnover and profitability to a position in excess of pre-pandemic levels.

The subsidiary contributed £1,079,823 (2021: £951,347) to the group turnover of £3,483,419 (2021: £2,401,162). The group's profit for the year, attributable to equity shareholders, amounted to £464,753 (2021: £842,186).

The gross profit margin has increased by 0.9% to 66.5% (2021: 65.6%). The increase in margin is in line with the directors' expectations as the group has recovered from the impact of the coronavirus restrictions.

The group operates in areas where the local economies continue to experience challenging conditions. Under these conditions the directors are satisfied with the performance of the group.

The directors use turnover and gross margin analysis as the Key Performance Indicators.

Given the straightforward nature of the group, the group's directors are of the opinion that analysis using other Key Performance Indicators is not necessary for an understanding of the development and performance of the entity.

PRINCIPAL RISKS AND UNCERTAINTIES
In common with other businesses in the leisure industry, the principle risks affecting performance are the general economic climate and both personal and corporate attitudes to discretionary expenditure. The directors believe that they have taken adequate steps to mitigate these risks. The year end position of the company is considered satisfactory, with the potential for sustained profitability in the forthcoming years.

KEY PERFORMANCE INDICATORS
Given the straightforward nature of the business, the company's directors are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the entity, and that all relevant financial information has been disclosed within the financial statements.

ON BEHALF OF THE BOARD:





G Caris - Director


29 September 2023

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Report of the Directors
for the Year Ended 31 December 2022

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2022.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the operation of amusement arcades, the operation of an indoor soft play centre and an ice cream parlour.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2022.

FUTURE DEVELOPMENTS
The group continues to consolidate its arcade and soft play businesses.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

G Caris
Mrs E G Caris
G Caris (Jnr)

POLITICAL DONATIONS AND EXPENDITURE
No political donations were made by the group during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Report of the Directors
for the Year Ended 31 December 2022


AUDITORS
The auditors, Anderson Barrowcliff LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G Caris - Director


29 September 2023

Report of the Independent Auditors to the Members of
Tyne Tees Entertainments Limited and
Subsidiary Company

Opinion
We have audited the financial statements of Tyne Tees Entertainments Limited and Subsidiary Company (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Tyne Tees Entertainments Limited and
Subsidiary Company


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Tyne Tees Entertainments Limited and
Subsidiary Company


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Audit procedures performed by the engagement team included:

- Enquiry of management, those charged with governance,around actual and potential litigation and claims.
- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.
- Challenging estimates and judgements made by management in their significant accounting estimates.
- Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and
accuracy of revenue and also to ensure revenue has been recognised in the correct period.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Tyne Tees Entertainments Limited and
Subsidiary Company


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Shawcross FCA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff LLP
Statutory Auditor
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

29 September 2023

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Consolidated
Income Statement
for the Year Ended 31 December 2022

2022 2021
Notes £    £   

TURNOVER 3 3,483,419 2,401,162

Cost of sales 1,166,659 826,790
GROSS PROFIT 2,316,760 1,574,372

Administrative expenses 1,688,026 1,510,495
628,734 63,877

Other operating income 16,000 335,297
OPERATING PROFIT 5 644,734 399,174

Exceptional item
VAT refund and interest 6 - 634,729
644,734 1,033,903

Interest receivable and similar income 4,277 963
649,011 1,034,866

Interest payable and similar expenses 7 363 34
PROFIT BEFORE TAXATION 648,648 1,034,832

Tax on profit 8 179,531 192,646
PROFIT FOR THE FINANCIAL YEAR 469,117 842,186
Profit attributable to:
Owners of the parent 469,117 842,186

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Consolidated
Other Comprehensive Income
for the Year Ended 31 December 2022

2022 2021
Notes £    £   

PROFIT FOR THE YEAR 469,117 842,186


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

469,117

842,186

Total comprehensive income attributable to:
Owners of the parent 469,117 842,186

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Consolidated Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 6,486,877 6,550,936
Investments 11 - -
6,486,877 6,550,936

CURRENT ASSETS
Stocks 12 15,265 15,166
Debtors 13 58,675 686,850
Cash at bank and in hand 2,700,326 1,572,958
2,774,266 2,274,974
CREDITORS
Amounts falling due within one year 14 427,505 530,389
NET CURRENT ASSETS 2,346,761 1,744,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,833,638

8,295,521

PROVISIONS FOR LIABILITIES 19 256,000 187,000
NET ASSETS 8,577,638 8,108,521

CAPITAL AND RESERVES
Called up share capital 20 10,000 10,000
Retained earnings 21 8,567,638 8,098,521
SHAREHOLDERS' FUNDS 8,577,638 8,108,521

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





G Caris - Director


Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Company Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 6,303,428 6,271,346
Investments 11 1,000 1,000
6,304,428 6,272,346

CURRENT ASSETS
Stocks 12 13,265 13,166
Debtors 13 536,197 1,159,315
Cash at bank and in hand 2,178,580 1,151,517
2,728,042 2,323,998
CREDITORS
Amounts falling due within one year 14 330,799 417,826
NET CURRENT ASSETS 2,397,243 1,906,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,701,671

8,178,518

PROVISIONS FOR LIABILITIES 19 256,000 187,000
NET ASSETS 8,445,671 7,991,518

CAPITAL AND RESERVES
Called up share capital 20 10,000 10,000
Retained earnings 21 8,435,671 7,981,518
SHAREHOLDERS' FUNDS 8,445,671 7,991,518

Company's profit for the financial year 454,153 705,042

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





G Caris - Director


Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2021 10,000 7,256,335 7,266,335

Changes in equity
Total comprehensive income - 842,186 842,186
Balance at 31 December 2021 10,000 8,098,521 8,108,521

Changes in equity
Total comprehensive income - 469,117 469,117
Balance at 31 December 2022 10,000 8,567,638 8,577,638

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Company Statement of Changes in Equity
for the Year Ended 31 December 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2021 10,000 7,276,476 7,286,476

Changes in equity
Total comprehensive income - 705,042 705,042
Balance at 31 December 2021 10,000 7,981,518 7,991,518

Changes in equity
Total comprehensive income - 454,153 454,153
Balance at 31 December 2022 10,000 8,435,671 8,445,671

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,532,192 1,234,167
Interest paid (363 ) (8 )
Interest element of hire purchase or finance
lease rental payments paid

-

(26

)
Tax paid (180,000 ) (148,198 )
Net cash from operating activities 1,351,829 1,085,935

Cash flows from investing activities
Purchase of tangible fixed assets (295,812 ) (254,927 )
Sale of tangible fixed assets 63,245 10,518
Interest received 4,277 963
Net cash from investing activities (228,290 ) (243,446 )

Cash flows from financing activities
Capital repayments in year - (2,161 )
Amount introduced by directors 90,474 87,326
Amount withdrawn by directors (87,245 ) (98,495 )
Net cash from financing activities 3,229 (13,330 )

Increase in cash and cash equivalents 1,126,768 829,159
Cash and cash equivalents at beginning of
year

2

1,568,099

738,940

Cash and cash equivalents at end of year 2 2,694,867 1,568,099

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2022 2021
£    £   
Profit before taxation 648,648 1,034,832
Depreciation charges 303,294 275,152
Profit on disposal of fixed assets (6,668 ) (4,927 )
Finance costs 363 34
Finance income (4,277 ) (963 )
941,360 1,304,128
Increase in stocks (99 ) (3,566 )
Decrease/(increase) in trade and other debtors 628,175 (59,474 )
Decrease in trade and other creditors (37,244 ) (6,921 )
Cash generated from operations 1,532,192 1,234,167

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 2,700,326 1,572,958
Bank overdrafts (5,459 ) (4,859 )
2,694,867 1,568,099
Year ended 31 December 2021
31.12.21 1.1.21
£    £   
Cash and cash equivalents 1,572,958 743,925
Bank overdrafts (4,859 ) (4,985 )
1,568,099 738,940


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.22 Cash flow At 31.12.22
£    £    £   
Net cash
Cash at bank and in hand 1,572,958 1,127,368 2,700,326
Bank overdrafts (4,859 ) (600 ) (5,459 )
1,568,099 1,126,768 2,694,867
Total 1,568,099 1,126,768 2,694,867

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Tyne Tees Entertainments Limited and Subsidiary Company 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 General Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements incorporate the financial statements of the company and its subsidiary company. The results of the subsidiaries acquired are consolidated for the periods from the date on which control passed and are accounted for under the acquisition method.

As permitted by section 408 of the Companies Act 2006, the profit and loss account of the parent company is not presented as part of these financial statements.

Turnover
Turnover represents arcade takings, takings from the children's indoor play centre and ice cream parlour, excluding value added tax, and is recognised on a cash basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Leasehold improvements - 10% on cost and over the period of the lease
Amusement machines - 33% on reducing balance
Fixtures and fittings - 33% on cost, 25% on reducing balance and 20% on cost
Motor vehicles - 25% on reducing balance and 25% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

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 for the benefit of the directors. Contributions payable for the year are charged in the profit and loss account.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and Borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2022 2021
£    £   
Amusement arcade 2,403,596 1,449,815
Indoor soft play centre 1,079,823 951,347
3,483,419 2,401,162

4. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 1,081,194 949,339
Social security costs 43,941 29,700
Other pension costs 6,959 5,993
1,132,094 985,032

The average number of employees during the year was as follows:
2022 2021

Weekly staff 78 72
Directors 5 3
83 75

2022 2021
£    £   
Directors' remuneration 333,411 295,013

Information regarding the highest paid director is as follows:
2022 2021
£    £   
Emoluments etc 79,122 74,752

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2022 2021
£    £   
Hire of plant and machinery 699 700
Other operating leases 1,975 2,067
Depreciation - owned assets 303,294 272,684
Depreciation - assets on hire purchase contracts or finance leases - 2,468
Profit on disposal of fixed assets (6,668 ) (4,927 )
Auditors remuneration 7,900 7,000
Income from grants - (335,297 )

6. EXCEPTIONAL ITEMS
2022 2021
£    £   
Exceptional item
VAT refund and interest - 634,729

The exceptional item in the prior year relates to VAT recovered during the year following the Upper Tier Tribunal decision judgement in favour of the taxpayer in the Rank case. This amount consists of the recovered VAT of £594,760 and statutory interest of £39,969.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2022 2021
£    £   
Bank interest 351 8
Interest on VAT 12 -
Hire purchase - 26
363 34

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2022 2021
£    £   
Current tax:
UK corporation tax 110,531 178,346

Deferred taxation 69,000 14,300
Tax on profit 179,531 192,646

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£    £   
Profit before tax 648,648 1,034,832
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2021 - 19 %)

123,243

196,618

Effects of:
Expenses not deductible for tax purposes 252 77
Capital allowances in excess of depreciation - (4,049 )
Depreciation in excess of capital allowances 56,036 -
Total tax charge 179,531 192,646

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. TANGIBLE FIXED ASSETS

Group
Freehold Leasehold Amusement
property improvements machines
£    £    £   
COST
At 1 January 2022 5,072,908 1,118,748 1,737,891
Additions - - 173,069
Disposals - - (100,540 )
At 31 December 2022 5,072,908 1,118,748 1,810,420
DEPRECIATION
At 1 January 2022 30,336 273,606 1,426,413
Charge for year - 24,674 136,837
Eliminated on disposal - - (73,977 )
At 31 December 2022 30,336 298,280 1,489,273
NET BOOK VALUE
At 31 December 2022 5,042,572 820,468 321,147
At 31 December 2021 5,042,572 845,142 311,478

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2022 1,126,906 220,583 9,277,036
Additions 35,734 87,009 295,812
Disposals - (64,095 ) (164,635 )
At 31 December 2022 1,162,640 243,497 9,408,213
DEPRECIATION
At 1 January 2022 889,584 106,161 2,726,100
Charge for year 106,431 35,352 303,294
Eliminated on disposal - (34,081 ) (108,058 )
At 31 December 2022 996,015 107,432 2,921,336
NET BOOK VALUE
At 31 December 2022 166,625 136,065 6,486,877
At 31 December 2021 237,322 114,422 6,550,936

Company
Freehold Leasehold Amusement
property improvements machines
£    £    £   
COST
At 1 January 2022 5,072,908 990,577 1,725,067
Additions - - 173,069
Disposals - - (100,540 )
At 31 December 2022 5,072,908 990,577 1,797,596
DEPRECIATION
At 1 January 2022 30,336 229,260 1,417,297
Charge for year - 11,857 135,613
Eliminated on disposal - - (73,977 )
At 31 December 2022 30,336 241,117 1,478,933
NET BOOK VALUE
At 31 December 2022 5,042,572 749,460 318,663
At 31 December 2021 5,042,572 761,317 307,770

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

10. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2022 740,070 150,405 8,679,027
Additions 12,033 70,509 255,611
Disposals - (29,250 ) (129,790 )
At 31 December 2022 752,103 191,664 8,804,848
DEPRECIATION
At 1 January 2022 641,250 89,538 2,407,681
Charge for year 26,421 20,913 194,804
Eliminated on disposal - (27,088 ) (101,065 )
At 31 December 2022 667,671 83,363 2,501,420
NET BOOK VALUE
At 31 December 2022 84,432 108,301 6,303,428
At 31 December 2021 98,820 60,867 6,271,346

Included within the net book value of leasehold improvements is £749,460 (2021: £761,317) relating to long leasehold property.

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 1,000
NET BOOK VALUE
At 31 December 2022 1,000
At 31 December 2021 1,000

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Family Leisure Limited
Registered office: 21-25 Marine Avenue, Whitley Bay, Tyne & Wear, NE26 1LX
Nature of business: Soft play centre and ice cream parlour.
%
Class of shares: holding
Ordinary 100.00
2022 2021
£    £   
Aggregate capital and reserves 132,970 118,004
Profit for the year 14,966 137,144


The above subsidiary is included in the consolidation.

12. STOCKS

Group Company
2022 2021 2022 2021
£    £    £    £   
Stocks 15,265 15,166 13,265 13,166

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Trade debtors - - 12,000 6,000
Amounts owed by group undertakings - - 469,000 469,000
Other debtors 2,000 637,729 2,000 637,729
Prepayments 56,675 49,121 53,197 46,586
58,675 686,850 536,197 1,159,315

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans and overdrafts (see note 15) 5,459 4,859 5,459 4,859
Trade creditors 73,713 76,781 60,154 70,470
Taxation 108,877 178,346 102,298 134,249
Social security and other taxes 17,536 16,559 11,588 11,809
VAT 60,466 47,566 34,011 27,644
Other creditors 51,963 71,895 51,958 45,710
Directors' current accounts 63,063 59,834 36,897 59,834
Accrued expenses 46,428 74,549 28,434 63,251
427,505 530,389 330,799 417,826

15. LOANS

An analysis of the maturity of loans is given below:

Group Company
2022 2021 2022 2021
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 5,459 4,859 5,459 4,859

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Company
Non-cancellable operating leases
2022 2021
£    £   
Within one year 18,500 20,042
Between one and five years 18,500 37,000
37,000 57,042

17. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank overdrafts 5,459 4,859 5,459 4,859

The bank overdraft has a fixed charge over book debts and a floating charge over all other assets dated 18 March 1987. It also has first legal charge over leasehold property known as 9 &10 The Esplanade, Redcar, Cleveland.

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

18. FINANCIAL INSTRUMENTS

The expenses attributable to the company's financial instruments are summarised as follows:

2022 2021
£ £
Expenses
Financial liabilities measured at amortised cost
- Hire purchase interest - 26

19. PROVISIONS FOR LIABILITIES

Group Company
2022 2021 2022 2021
£    £    £    £   
Deferred taxation 256,000 187,000 256,000 187,000

Group
Deferred
tax
£   
Balance at 1 January 2022 187,000
Provided during year 69,000
Balance at 31 December 2022 256,000

Company
Deferred
tax
£   
Balance at 1 January 2022 187,000
Provided during year 69,000
Balance at 31 December 2022 256,000

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
10,000 Ordinary £1 10,000 10,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

Tyne Tees Entertainments Limited and
Subsidiary Company (Registered number: 01860954)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

21. RESERVES

Group
Retained
earnings
£   

At 1 January 2022 8,098,521
Profit for the year 469,117
At 31 December 2022 8,567,638

Company
Retained
earnings
£   

At 1 January 2022 7,981,518
Profit for the year 454,153
At 31 December 2022 8,435,671

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

22. PENSION COMMITMENTS

The group operates a defined contribution pension scheme for its directors and employees. Premiums are charged to the profit and loss account in the year they are paid. The charge for the year was £6,959 (2021 - £5,993).

23. RELATED PARTY DISCLOSURES

The total remuneration for key management personnel for the year totalled £333,411 (2021 - £295,013), being remuneration disclosed in note 3.

Other related parties - common control

The group pays rent of £18,500 (2021 - £18,500) per annum on a property owned by an entity under common control.

Key management personnel

The group leases property owned by key management personnel for £1 per annum.

24. ULTIMATE CONTROLLING PARTY

The group is under the control of the directors by virtue of their equity shareholdings.