Grand Pier (Teignmouth) Limited 00686309 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is providing amusements on the Pier in Teignmouth. Digita Accounts Production Advanced 6.30.9574.0 true 00686309 2022-04-01 2023-03-31 00686309 2023-03-31 00686309 core:CapitalRedemptionReserve 2023-03-31 00686309 core:RetainedEarningsAccumulatedLosses 2023-03-31 00686309 core:ShareCapital 2023-03-31 00686309 core:CurrentFinancialInstruments 2023-03-31 00686309 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00686309 core:Non-currentFinancialInstruments 2023-03-31 00686309 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00686309 core:FurnitureFittingsToolsEquipment 2023-03-31 00686309 core:LandBuildings 2023-03-31 00686309 core:MotorVehicles 2023-03-31 00686309 core:OtherPropertyPlantEquipment 2023-03-31 00686309 bus:SmallEntities 2022-04-01 2023-03-31 00686309 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00686309 bus:FullAccounts 2022-04-01 2023-03-31 00686309 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00686309 bus:RegisteredOffice 2022-04-01 2023-03-31 00686309 bus:CompanySecretary1 2022-04-01 2023-03-31 00686309 bus:Director2 2022-04-01 2023-03-31 00686309 bus:Director3 2022-04-01 2023-03-31 00686309 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00686309 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 00686309 core:LandBuildings 2022-04-01 2023-03-31 00686309 core:MotorVehicles 2022-04-01 2023-03-31 00686309 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 00686309 countries:England 2022-04-01 2023-03-31 00686309 2022-03-31 00686309 core:FurnitureFittingsToolsEquipment 2022-03-31 00686309 core:LandBuildings 2022-03-31 00686309 core:MotorVehicles 2022-03-31 00686309 core:OtherPropertyPlantEquipment 2022-03-31 00686309 2021-04-01 2022-03-31 00686309 2022-03-31 00686309 core:CapitalRedemptionReserve 2022-03-31 00686309 core:RetainedEarningsAccumulatedLosses 2022-03-31 00686309 core:ShareCapital 2022-03-31 00686309 core:CurrentFinancialInstruments 2022-03-31 00686309 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 00686309 core:Non-currentFinancialInstruments 2022-03-31 00686309 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 00686309 core:FurnitureFittingsToolsEquipment 2022-03-31 00686309 core:LandBuildings 2022-03-31 00686309 core:MotorVehicles 2022-03-31 00686309 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 00686309

Grand Pier (Teignmouth) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Company Information

Directors

Mr N C R Brenner

Mrs L S Cooper

Company secretary

Mrs L S Cooper

Registered office

Grand Pier (Teignmouth) Ltd
The Pier
Teignmouth
Devon
TQ14 8BB

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

370,450

373,064

Current assets

 

Stocks

5

12,287

15,000

Debtors

6

14,761

10,552

Cash at bank and in hand

 

2,644

13,420

 

29,692

38,972

Creditors: Amounts falling due within one year

7

(219,905)

(198,118)

Net current liabilities

 

(190,213)

(159,146)

Total assets less current liabilities

 

180,237

213,918

Creditors: Amounts falling due after more than one year

7

(23,961)

(33,843)

Provisions for liabilities

(19,508)

(20,005)

Net assets

 

136,768

160,070

Capital and reserves

 

Called up share capital

22,600

22,600

Capital redemption reserve

7,400

7,400

Profit and loss account

106,768

130,070

Total equity

 

136,768

160,070

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Mrs L S Cooper
Director

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Grand Pier (Teignmouth) Ltd
The Pier
Teignmouth
Devon
TQ14 8BB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The Coronavirus Job Retention Scheme, Small Business & Local Restrictions Supports grants have been recognised under the accrual model and are credited to income over the periods in which the compensated costs have been recognised.

Tax

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

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Fire safety equipment

5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 10).

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Fire safety equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

267,776

414,921

10,080

420,207

1,112,984

Additions

-

-

-

20,556

20,556

At 31 March 2023

267,776

414,921

10,080

440,763

1,133,540

Depreciation

At 1 April 2022

-

399,212

9,672

331,036

739,920

Charge for the year

-

1,791

82

21,297

23,170

At 31 March 2023

-

401,003

9,754

352,333

763,090

Carrying amount

At 31 March 2023

267,776

13,918

326

88,430

370,450

At 31 March 2022

267,776

15,709

408

89,171

373,064

Included within the net book value of land and buildings above is £211,776 (2022 - £211,776) in respect of freehold land and buildings and £56,000 (2022 - £56,000) in respect of long leasehold land and buildings.
 

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

12,287

12,000

Other stocks

-

3,000

12,287

15,000

6

Debtors

2023
£

2022
£

Other debtors

10,765

4,000

Prepayments and accrued income

3,996

6,552

Total current trade and other debtors

14,761

10,552

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

57,520

9,410

Trade creditors

 

11,019

47,089

Taxation and social security

 

3,272

14,965

Other creditors

 

131,977

111,811

Accrued expenses

 

5,182

5,307

Corporation tax liability

 

10,935

9,536

 

219,905

198,118

Due after one year

 

Loans and borrowings

8

23,961

33,843

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,882

9,410

Bank overdrafts

47,638

-

57,520

9,410

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

23,961

33,843