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REGISTERED NUMBER: 09449197 (England and Wales)










North Wales Resorts (Snowdonia) Limited

Unaudited Financial Statements

for the Year Ended 28 February 2023






North Wales Resorts (Snowdonia) Limited (Registered number: 09449197)






Contents of the Financial Statements
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


North Wales Resorts (Snowdonia) Limited

Company Information
for the year ended 28 February 2023







DIRECTORS: Mr C W Holmes
Mrs D Holmes
Mr Harrison Holmes
Mr Harvey Holmes





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





REGISTERED NUMBER: 09449197 (England and Wales)





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

North Wales Resorts (Snowdonia) Limited (Registered number: 09449197)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 322,825 430,433
Tangible assets 5 2,300,492 1,906,978
2,623,317 2,337,411

CURRENT ASSETS
Stocks 1,324,056 758,869
Debtors 6 2,356,303 1,610,322
Cash at bank 100 145,629
3,680,459 2,514,820
CREDITORS
Amounts falling due within one year 7 2,534,522 1,579,497
NET CURRENT ASSETS 1,145,937 935,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,769,254

3,272,734

CREDITORS
Amounts falling due after more than one
year

8

(2,331,153

)

(2,159,138

)

PROVISIONS FOR LIABILITIES (258,778 ) (241,010 )
NET ASSETS 1,179,323 872,586

CAPITAL AND RESERVES
Called up share capital 9 9
Retained earnings 1,179,314 872,577
SHAREHOLDERS' FUNDS 1,179,323 872,586

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 July 2023 and were signed on its behalf by:



Mr C W Holmes - Director


North Wales Resorts (Snowdonia) Limited (Registered number: 09449197)

Notes to the Financial Statements
for the year ended 28 February 2023

1. STATUTORY INFORMATION

North Wales Resorts (Snowdonia) 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 2016, 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.

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 - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

North Wales Resorts (Snowdonia) Limited (Registered number: 09449197)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 1,076,081
AMORTISATION
At 1 March 2022 645,648
Charge for year 107,608
At 28 February 2023 753,256
NET BOOK VALUE
At 28 February 2023 322,825
At 28 February 2022 430,433

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 638,505 1,654,888 2,293,393
Additions - 639,956 639,956
Disposals - (95,330 ) (95,330 )
At 28 February 2023 638,505 2,199,514 2,838,019
DEPRECIATION
At 1 March 2022 - 386,415 386,415
Charge for year - 178,032 178,032
Eliminated on disposal - (26,920 ) (26,920 )
At 28 February 2023 - 537,527 537,527
NET BOOK VALUE
At 28 February 2023 638,505 1,661,987 2,300,492
At 28 February 2022 638,505 1,268,473 1,906,978

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 126,624
Amounts owed by participating interests 2,340,345 926,800
Other debtors 15,958 556,898
2,356,303 1,610,322

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 511,285 216,636
Hire purchase contracts 50,513 26,167
Trade creditors 990,757 1,008,251
Amounts owed to participating interests 715,601 24,318
Taxation and social security 63,166 11,747
Other creditors 203,200 292,378
2,534,522 1,579,497

North Wales Resorts (Snowdonia) Limited (Registered number: 09449197)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2,285,779 2,104,697
Hire purchase contracts 45,374 54,441
2,331,153 2,159,138

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,876,600 1,888,061

9. RELATED PARTY DISCLOSURES

During the year the company paid for expenses amounting to £413,034 (2022: £198,838) and received Nil (2022 £149,844) on behalf of N W Resorts (Anglesey) Limited a company under common control, At 28 February 2023 £564,235 (2022 £151,201) was owed to the company.

During the year the company also paid for expenses of £942,736 on behalf of North Wales Resorts Limited a company under common control. At the year end £1,716,835 (2022 £774,099) was still outstanding.

During the year the company paid for expenses of £8,640 (2021 £1,313) and received £34,270 on behalf of A & C Leisure (Holdings) Limited a company under common control. At the year end £57,530 (2022 £24,318 due to) was owed by A & C Leisure (Holdings) Ltd.

During the year the company also paid for expenses of £245 (2022 £1,500) on behalf of North Wales Resorts (Caerwys) Limited a company under common control. At the year end £1,745 still outstanding.

During the year the company borrowed £715,601 from Restaurant 72 Ltd, a company under common control. At the year end this was still outstanding.