Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3144332022-02-01falseCaravan parktruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04670910 2022-02-01 2023-01-31 04670910 2021-02-01 2022-01-31 04670910 2023-01-31 04670910 2022-01-31 04670910 c:Director2 2022-02-01 2023-01-31 04670910 d:Buildings 2022-02-01 2023-01-31 04670910 d:Buildings 2023-01-31 04670910 d:Buildings 2022-01-31 04670910 d:Buildings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:PlantMachinery 2022-02-01 2023-01-31 04670910 d:PlantMachinery 2023-01-31 04670910 d:PlantMachinery 2022-01-31 04670910 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:MotorVehicles 2022-02-01 2023-01-31 04670910 d:MotorVehicles 2023-01-31 04670910 d:MotorVehicles 2022-01-31 04670910 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:FurnitureFittings 2022-02-01 2023-01-31 04670910 d:FurnitureFittings 2023-01-31 04670910 d:FurnitureFittings 2022-01-31 04670910 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:OfficeEquipment 2022-02-01 2023-01-31 04670910 d:OfficeEquipment 2023-01-31 04670910 d:OfficeEquipment 2022-01-31 04670910 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 04670910 d:CurrentFinancialInstruments 2023-01-31 04670910 d:CurrentFinancialInstruments 2022-01-31 04670910 d:Non-currentFinancialInstruments 2023-01-31 04670910 d:Non-currentFinancialInstruments 2022-01-31 04670910 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04670910 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 04670910 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 04670910 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 04670910 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 04670910 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 04670910 d:ShareCapital 2023-01-31 04670910 d:ShareCapital 2022-01-31 04670910 d:RetainedEarningsAccumulatedLosses 2023-01-31 04670910 d:RetainedEarningsAccumulatedLosses 2022-01-31 04670910 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04670910 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 04670910 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-31 04670910 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-01-31 04670910 c:FRS102 2022-02-01 2023-01-31 04670910 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 04670910 c:FullAccounts 2022-02-01 2023-01-31 04670910 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 04670910 2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 04670910









THE PLASSEY LEISURE PARK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
THE PLASSEY LEISURE PARK LIMITED
REGISTERED NUMBER: 04670910

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,742,292
1,791,570

  
1,742,292
1,791,570

Current assets
  

Stocks
 5 
56,750
61,302

Debtors: amounts falling due within one year
 6 
223,114
185,265

Cash at bank and in hand
  
576,935
1,023,815

  
856,799
1,270,382

Creditors: amounts falling due within one year
 7 
(741,654)
(1,039,137)

Net current assets
  
 
 
115,145
 
 
231,245

Total assets less current liabilities
  
1,857,437
2,022,815

Creditors: amounts falling due after more than one year
 8 
(1,233,090)
(1,342,191)

Provisions for liabilities
  

Deferred tax
 10 
(219,337)
(219,337)

Other provisions
 11 
(23,280)
(23,280)

  
 
 
(242,617)
 
 
(242,617)

Net assets
  
381,730
438,007


Capital and reserves
  

Called up share capital 
  
133
133

Profit and loss account
  
381,597
437,874

  
381,730
438,007


Page 1

 
THE PLASSEY LEISURE PARK LIMITED
REGISTERED NUMBER: 04670910
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr J S Brookshaw
Director

Date: 24 October 2023

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The Plassey Leisure Park Limited is a private company, limited by shares, incorporated in England and
Wales, registration number 04670910. The registered office is 1 Edison Court, Ellice Way, Wrexham
Technology Park, Wrexham LL13 7YT. The principal place of business is The Plassey Leisure Park,
Eyton, Wrexham LL13 0SP

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.



Page 3

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
5%
/ 10% on straight line
Plant and machinery
-
15%
/ 20% on reducing balances
Motor vehicles
-
25%
on reducing balances
Fixtures and fittings
-
20%
on reducing balances
Office and computer equipment
-
20%
/ 33% on reucing balances

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected
Page 6

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Staff
44
33


4.


Tangible fixed assets





Leasehold  property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 February 2022
1,944,715
1,518,702
60,951
511,007
82,053


Additions
11,771
130,465
-
78,034
13,196


Disposals
-
(10,953)
-
-
(4,250)



At 31 January 2023

1,956,486
1,638,214
60,951
589,041
90,999



Depreciation


At 1 February 2022
1,203,584
696,048
28,334
332,315
65,578


Charge for the year on owned assets
55,975
162,202
8,154
43,059
9,543


Disposals
-
(7,255)
-
-
(4,138)



At 31 January 2023

1,259,559
850,995
36,488
375,374
70,983



Net book value



At 31 January 2023
696,927
787,219
24,463
213,667
20,016



At 31 January 2022
741,131
822,654
32,618
178,692
16,475
Page 8

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 February 2022
4,117,428


Additions
233,466


Disposals
(15,203)



At 31 January 2023

4,335,691



Depreciation


At 1 February 2022
2,325,859


Charge for the year on owned assets
278,933


Disposals
(11,393)



At 31 January 2023

2,593,399



Net book value



At 31 January 2023
1,742,292



At 31 January 2022
1,791,570

Page 9

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
56,750
61,302

56,750
61,302



6.


Debtors

2023
2022
£
£


Trade debtors
36,555
2,492

Other debtors
87,893
133,061

Prepayments and accrued income
98,666
49,712

223,114
185,265



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
85,897
298,232

Trade creditors
216,610
263,807

Corporation tax
-
33,668

Other taxation and social security
46,401
28,939

Other creditors
20,253
58,776

Accruals and deferred income
372,493
355,715

741,654
1,039,137


Page 10

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,103,089
1,183,775

Accruals and deferred income
130,001
158,416

1,233,090
1,342,191


In the previous year, an amount totalling £200,000 included in creditors is subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interuption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The CBILS guarantee is provided to the lender. The loan has been repaid during the year.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within 12 months

Bank loans
85,897
298,232


85,897
298,232


Amounts falling due after 12 months

Bank loans
1,103,092
1,183,777


1,103,092
1,183,777


1,188,989
1,482,009


Lloyds bank has a fixed and floating charge dated 5 January 2018 over the assets of the company.

Page 11

 
THE PLASSEY LEISURE PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

10.


Deferred taxation




2023


£






At beginning of year
(219,337)



At end of year
(219,337)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
219,337
219,337

219,337
219,337


11.


Provisions




Lease dilapidation

£





At 1 February 2022
23,280



At 31 January 2023
23,280


12.


Related party transactions

The Company has made a loan to Mr J S Brookshaw, a director. The maximum outstanding balance during the year was £69,378. The balance due to the Company at 31 January 2023 was £49,182 (2022: £69,378). No interest is charged and no terms have been agreed for repayment. 

 
Page 12