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Registered number: 11522120









BRICKYARD LEISURE LTD

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
BRICKYARD LEISURE LTD
REGISTERED NUMBER: 11522120

BALANCE SHEET
AS AT 31 DECEMBER 2022

31 December
As restated 31 October
2022
2021 (unaudited)
Note
£
£

Fixed assets
  

Intangible assets
 4 
16,252
19,502

Tangible assets
 5 
2,697,426
1,190,723

  
2,713,678
1,210,225

Current assets
  

Stocks
 6 
527,681
101,557

Debtors: amounts falling due within one year
 7 
224,288
62,320

Cash at bank and in hand
  
27,216
15,100

  
779,185
178,977

Creditors: amounts falling due within one year
 8 
(1,141,973)
(299,395)

Net current liabilities
  
 
 
(362,788)
 
 
(120,418)

Total assets less current liabilities
  
2,350,890
1,089,807

Creditors: amounts falling due after more than one year
  
-
(464,677)

Provisions for liabilities
  

Deferred tax
  
(487,149)
(95,642)

  
 
 
(487,149)
 
 
(95,642)

Net assets
  
1,863,741
529,488


Capital and reserves
  

Called up share capital 
  
150
150

Revaluation reserve
  
1,376,186
263,776

Profit and loss account
  
487,405
265,562

  
1,863,741
529,488


Page 1

 
BRICKYARD LEISURE LTD
REGISTERED NUMBER: 11522120

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of comprehensive income 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 on 31 January 2024.




................................................
Matthew Knowles
Director

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

Page 2

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Brickyard Leisure Ltd is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is C/O Prestige Country Parks Melbourne Road, Allerthorpe, York, Yorkshire, United Kingdom, YO42 4RL. The principal activity of the company is the running of a caravan park and other leisure activities.
During the financial period the Company changed the accounting reference date from 31 October to 31 December, subsequently the current financial period covers a 14 month period.
The Company is part of the Prestige Country Parks Limited group.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentational currency is Pound sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be
generated from future trading and continued group support for a period of at least twelve months
from the date of the approval of these financial statements to enable the company to meet its
liabilities as they arise. 
The financial statements do not include any adjustments that would be result from the withdrawal of
this support.

 
2.3

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:

Sales of Mobile Homes
Sales of mobile homes are recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.
Recharge of expenses
The recharge of expenses are recognised on an accruals basis in the period to which they relate.
Non-Refundable deposits
Non-Refundable deposits are recognised on an accruals basis in the period to which they relate.

Page 3

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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 Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

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.

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the period 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 corporation 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.

Page 4

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
15%
Computer equipment
-
15%

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.
No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

Page 5

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
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 attributable labour.

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.

 
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.

 
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.
 
Page 6

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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 Statement of income and retained earnings.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2021 - 5).


4.


Intangible assets






Computer software
Goodwill
Total

£
£
£



Cost


At 1 November 2021
2,860
25,000
27,860



At 31 December 2022

2,860
25,000
27,860



Amortisation


At 1 November 2021
858
7,500
8,358


Charge for the period on owned assets
334
2,917
3,251



At 31 December 2022

1,192
10,417
11,609



Net book value



At 31 December 2022
1,668
14,583
16,251



At 31 October 2021
2,002
17,500
19,502



Page 7

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.


Tangible fixed assets

Following the acquisition of the Company in November 2022, there was a change in accounting policy to align with the group. This resulted in items held for resale being reallocated as WIP within stock rather than as tangible fixed assets. The amount reallocated was £132,400 (2021 - £101,557).







Freehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2021
1,073,443
179,713
527
1,253,683


Additions
17,292
742
-
18,034


Revaluations
1,509,266
-
-
1,509,266



At 31 December 2022

2,600,001
180,455
527
2,780,983



Depreciation


At 1 November 2021
-
62,756
204
62,960


Charge for the period on owned assets
-
20,540
57
20,597



At 31 December 2022

-
83,296
261
83,557



Net book value



At 31 December 2022
2,600,001
97,159
266
2,697,426



At 31 October 2021 (as restated)
1,073,443
116,957
324
1,190,724

Cost or valuation at 31 December 2022 is as follows:

Land and buildings
£


At cost
765,086
At valuation:

31 December 2022
1,834,914



2,600,000

Page 8

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

           5.Tangible fixed assets (continued)

A revaluation was carried out during the year by Avison Young. The directors have chosen to use this as the basis for their revaluation carried out during the year.
If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

31 December
2022
£



Cost
765,086

Net book value
765,086


6.


Stocks




31 December
31 October
2022
2021 (unaudited, as restated)
£
£

Work in progress
132,400
101,557

Finished goods
395,281
-

527,681
101,557



7.


Debtors

31 December
31 October
2022
2021 (unaudited)
£
£


Trade debtors
119,165
60,414

Amounts owed by group undertakings
95,000
-

Other debtors
-
1,906

Prepayments and accrued income
10,123
-

224,288
62,320


Page 9

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

8.


Creditors: Amounts falling due within one year

31 December
31 October
2022
2021 (unaudited)
£
£

Bank loans
-
28,972

Trade creditors
14,698
97,612

Amounts owed to group undertakings
938,380
-

Corporation tax
55,303
35,259

Other taxation and social security
1,688
4,247

Other creditors
-
111,124

Accruals and deferred income
131,904
22,181

1,141,973
299,395



9.


Loans


Analysis of the maturity of loans is given below:


31 December
31 October
2022
2021 (unaudited)
£
£

Amounts falling due within one year

Bank loans
-
28,972


-
28,972

Amounts falling due 1-2 years

Bank loans
-
459,082


-
459,082



-
488,054



10.


Deferred taxation

Page 10

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
 
10.Deferred taxation (continued)






2022


£






At beginning of year
(95,642)


Charged to profit or loss
5,350


Charged to other comprehensive income
(396,856)



At end of year
(487,148)

The provision for deferred taxation is made up as follows:

31 December
31 October
2022
2021 (unaudited)
£
£


Accelerated capital allowances
(28,419)
(33,769)

Property revaluation
(458,729)
(61,873)

(487,148)
(95,642)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. 
The pension cost charge represents contributions payable by the company to the fund and amounted to £1,091 (2021 - £1,127). Contributions totalling £Nil (2021 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

During the year the Company operated loan accounts with its parent and fellow subsidiaries. The balance owed to these entities and shown within other creditors as at 31 December 2022 was £843,380 (2021: -£34,093). These loans are repayable on demand.
During the year the Company paid a management charge to its parent entity Prestige Country Park Ltd totalling £15,000 (2021: £Nil), this charge was made on a commercial basis.


13.


Controlling party

The controlling party of the Company is Prestige Country Parks Limited by virtue of its 100% shareholding in Brickyard Leisure Ltd.
The Ultimate Controlling Parties are Mr M Knowles and Mrs J Knowles by virtue of their joint shareholding in Prestige Country Parks Limited.

Page 11

 
BRICKYARD LEISURE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

14.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was qualified.

The qualification in the audit report was as follows:
We were appointed as auditors of the group on 10 September 2023 and thus did not observe the counting of the physical inventories at 31 December 2021 or 31 December 2022. For the year ended 31 December 2022 we were able to satisfy ourselves as to the stock figure of £527,681 by alternative means however we were unable to satisfy ourselves by alternative means concerning stock quantities held at 31 December 2021 of £101,557.
Since stock enters into the determination of financial performance we were unable to determine whether adjustments might have been necessary in respect of the profit for the year reported in the Statement of Comprehensive Income.  
In addition to the above due to the company changing ownership during November 2022 we have been unable to access all of the accounting records prior to the acquisition date, this has meant we were unable to undertake some of our usual audit procedures on transactions in that period. We were able to complete sufficient audit work on the assets and liabilities on the balance sheet at 31 December 2022 but have not been able to obtain sufficient assurance over the transactions in the statement of comprehensive income for the year ended 31 December 2022.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

The audit report was signed on 1 February 2024 by R C Dilley FCA FCCA (Senior Statutory Auditor) on behalf of George Hay Partnership LLP.


Page 12