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REGISTERED NUMBER: 07512087 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Northern Victorian Pier Limited

Northern Victorian Pier Limited (Registered number: 07512087)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Northern Victorian Pier Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S Sedgwick
Miss R S Sedgwick





REGISTERED OFFICE: North Pier
Queens Promenade
Blackpool
Lancashire
FY1 1NE





REGISTERED NUMBER: 07512087 (England and Wales)





AUDITORS: Ashworth Treasure Limited
Statutory Auditors
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Northern Victorian Pier Limited (Registered number: 07512087)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,028,835 1,463,241

CURRENT ASSETS
Stocks 46,018 46,546
Debtors 507,152 65,720
Cash at bank and in hand 196,217 646,318
749,387 758,584
CREDITORS
Amounts falling due within one year 119,771 268,102
NET CURRENT ASSETS 629,616 490,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,658,451

1,953,723

CREDITORS
Amounts falling due after more than one
year

-

(26,456

)

PROVISIONS FOR LIABILITIES (218,569 ) (322,763 )
NET ASSETS 1,439,882 1,604,504

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 431,536 642,498
Retained earnings 1,008,246 961,906
SHAREHOLDERS' FUNDS 1,439,882 1,604,504

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 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 July 2024 and were signed on its behalf by:





Miss R S Sedgwick - Director


Northern Victorian Pier Limited (Registered number: 07512087)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Northern Victorian Pier 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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 - 33% on cost, 25% on reducing balance and 20% on cost

Fixed assets are stated at cost or revaluation, net of depreciation and any provision for impairment.

Assets that have been revalued are subject to subsequent revaluations performed with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the balance sheet date. The valuations are performed by a qualified external valuer.

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.

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.

Northern Victorian Pier Limited (Registered number: 07512087)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Contingent liabilities
A contingent liability is either a possible but uncertain obligation or a present obligation that is not recognised because a transfer of economic benefits is not probable. A contingent liability also arises if a present obligation exists but the amount required to settle it cannot be reliably estimated.

Contingent liabilities are not recoginsed unless they have arisen in a business combination. They are disclosed unless the possibility of an outflow of resources is remote.

When an entity is jointly and severally liable for an obligation, the part of the obligation that is expected to be met by other parties is treated as a contingent liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023 1,943,081
Additions 30,514
Revaluations (281,283 )
At 31 December 2023 1,692,312
DEPRECIATION
At 1 January 2023 479,840
Charge for year 183,637
At 31 December 2023 663,477
NET BOOK VALUE
At 31 December 2023 1,028,835
At 31 December 2022 1,463,241

Cost or valuation at 31 December 2023 is represented by:

Totals
£   
Valuation in 2015 1,056,665
Valuation in 2017 (200,000 )
Valuation in 2023 (281,283 )
Cost 1,116,930
1,692,312

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 143,335 143,335

The freehold property was valued on an open market basis on 9 February 2023 by CBRE Limited .

Northern Victorian Pier Limited (Registered number: 07512087)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 27,966 100,817

Liabilities under hire purchase contracts and finance leases are secured against the assets to which they relate.

6. RESERVES
Revaluation
reserve
£   
At 1 January 2023 642,498
Property revaluation reserve (210,962 )

At 31 December 2023 431,536

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

The Report of the Auditors was unqualified.

Victoria Reynolds (Senior Statutory Auditor)
for and on behalf of Ashworth Treasure Limited

8. CONTINGENT LIABILITIES

A cross group guarantee is in place for bank loans and some hire purchase agreements secured against the above assets.The total indebtness of other group companies was £5,256,330.

9. ULTIMATE PARENT UNDERTAKING

Northern Victorian Pier Limited is a wholly owned subsidiary of The Blackpool Pier Company Limited, Empress
Buildings, 97 Church Street, Blackpool, England, FY1 1HU. This is the ultimate parent company for which group
accounts are drawn up.