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REGISTERED NUMBER: 06882710 (England and Wales)












PURE LEISURE LAKES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PURE LEISURE LAKES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: J C Morphet
P Rossiter





SECRETARY: P Rossiter





REGISTERED OFFICE: South Lakeland House
Main A6
Yealand Redmayne
Carnforth
LA5 9RN





REGISTERED NUMBER: 06882710 (England and Wales)





AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

ABRIDGED BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 33,333 38,333
Tangible assets 5 1,061,108 1,067,474
1,094,441 1,105,807

CURRENT ASSETS
Stocks 68,486 93,333
Debtors 1,116,729 1,561,408
Cash at bank and in hand 77,177 381,782
1,262,392 2,036,523
CREDITORS
Amounts falling due within one year 3,700,906 4,472,476
NET CURRENT LIABILITIES (2,438,514 ) (2,435,953 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,344,073

)

(1,330,146

)

PROVISIONS FOR LIABILITIES 923 923
NET LIABILITIES (1,344,996 ) (1,331,069 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,345,096 ) (1,331,169 )
SHAREHOLDERS' FUNDS (1,344,996 ) (1,331,069 )

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 October 2023 and were signed on its behalf by:



P Rossiter - Director


PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Pure Leisure Lakes 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.

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.

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 nearest £.

Turnover
Revenue is recognised to the extent that the company obtains the rights to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts and VAT. Turnover represents the sale of holiday caravan and lodges, income from owners and short term holiday lets.

Intangible assets
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

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 - 2% on cost
Plant and machinery - 25% on cost

Land is not depreciated.

Stocks
Stocks of caravans and other goods are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been 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.


PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

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.

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 1 (2022 - 1 ) .

PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022
and 31 January 2023 100,000
AMORTISATION
At 1 February 2022 61,667
Amortisation for year 5,000
At 31 January 2023 66,667
NET BOOK VALUE

At 31 January 2023 33,333
At 31 January 2022 38,333

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022
and 31 January 2023 1,154,539
DEPRECIATION
At 1 February 2022 87,065
Charge for year 6,366
At 31 January 2023 93,431
NET BOOK VALUE
At 31 January 2023 1,061,108
At 31 January 2022 1,067,474

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

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

7. 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.

PURE LEISURE LAKES LIMITED (REGISTERED NUMBER: 06882710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. 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.