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REGISTERED NUMBER: 08408065 (England and Wales)










North Wales Resorts Limited

Unaudited Financial Statements

for the Period 1 June 2022 to 28 February 2023






North Wales Resorts Limited (Registered number: 08408065)






Contents of the Financial Statements
for the period 1 June 2022 to 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


North Wales Resorts Limited

Company Information
for the period 1 June 2022 to 28 February 2023







DIRECTOR: Mr C W Holmes





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 08408065 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

North Wales Resorts Limited (Registered number: 08408065)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,626 12,753
Tangible assets 5 1,030,723 1,020,360
1,035,349 1,033,113

CURRENT ASSETS
Stocks 1,527,113 793,581
Debtors 6 948,310 944,331
Cash at bank and in hand 10,011 114,637
2,485,434 1,852,549
CREDITORS
Amounts falling due within one year 7 1,938,417 1,455,882
NET CURRENT ASSETS 547,017 396,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,582,366

1,429,780

CREDITORS
Amounts falling due after more than one
year

8

(866,142

)

(568,300

)

PROVISIONS FOR LIABILITIES (65,715 ) (65,715 )
NET ASSETS 650,509 795,765

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 650,499 795,755
650,509 795,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:



Mr C W Holmes - Director


North Wales Resorts Limited (Registered number: 08408065)

Notes to the Financial Statements
for the period 1 June 2022 to 28 February 2023

1. STATUTORY INFORMATION

North Wales Resorts 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 4 ) .

North Wales Resorts Limited (Registered number: 08408065)

Notes to the Financial Statements - continued
for the period 1 June 2022 to 28 February 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2022
and 28 February 2023 99,500 4,424 103,924
AMORTISATION
At 1 June 2022 89,550 1,621 91,171
Charge for period 7,463 664 8,127
At 28 February 2023 97,013 2,285 99,298
NET BOOK VALUE
At 28 February 2023 2,487 2,139 4,626
At 31 May 2022 9,950 2,803 12,753

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 668,750 467,061 1,135,811
Additions - 115,906 115,906
Disposals - (57,079 ) (57,079 )
At 28 February 2023 668,750 525,888 1,194,638
DEPRECIATION
At 1 June 2022 - 115,451 115,451
Charge for period - 48,464 48,464
At 28 February 2023 - 163,915 163,915
NET BOOK VALUE
At 28 February 2023 668,750 361,973 1,030,723
At 31 May 2022 668,750 351,610 1,020,360

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 155,000 15,002
Amounts owed by associates 764,665 762,450
Other debtors 28,645 166,879
948,310 944,331

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 93,191 93,191
Hire purchase contracts 22,026 29,871
Trade creditors 26,391 162,225
Amounts owed to associates 1,716,835 1,040,561
Taxation and social security 1,743 42,699
Other creditors 78,231 87,335
1,938,417 1,455,882

North Wales Resorts Limited (Registered number: 08408065)

Notes to the Financial Statements - continued
for the period 1 June 2022 to 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 388,884 451,507
Hire purchase contracts 50,671 116,793
Other creditors 426,587 -
866,142 568,300

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 149,142 124,636

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 419,470 544,696

Included in creditors is a loan with HSBC Bank PLC, who hold a fixed and floating charge over the property and assets of the company.

10. RELATED PARTY DISCLOSURES

During the year the company paid for expenses and had expenses paid for on its behalf by North Wales Resorts (Snowdonia) Ltd a company in which the director is also a director. At the year end £1,716,835 (£2022 1,040,561) was owed to North Wales Resorts (Snowdonia) Ltd.

The company also paid for expenses on behalf of North Wales Resorts (Anglesey) Ltd, a company under common control. At the year end £11,877 (2022 £10,000) was owed to the company.

11. ULTIMATE CONTROLLING PARTY

Ultimate control lies with the director who owns all of the issued share capital in the holding company North Wales Resorts (Sanctuary) Ltd.