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REGISTERED NUMBER: 05224146 (England and Wales)










A & C Leisure (Holdings) Limited

Unaudited Financial Statements

for the period

1 October 2022 to 28 February 2024






A & C Leisure (Holdings) Limited (Registered number: 05224146)






Contents of the Financial Statements
for the period 1 October 2022 to 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A & C Leisure (Holdings) Limited

Company Information
for the period 1 October 2022 to 28 February 2024







DIRECTORS: Mr C W Holmes
Mrs D Holmes
Mr H W Holmes
Mr H J Holmes





SECRETARY: Mr C W Holmes





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





REGISTERED NUMBER: 05224146 (England and Wales)





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

A & C Leisure (Holdings) Limited (Registered number: 05224146)

Balance Sheet
28 February 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4 -
Tangible assets 5 1,482,112 442,834
1,482,116 442,834

CURRENT ASSETS
Stocks 169,491 111,071
Debtors 6 1,872,391 696,214
Cash at bank and in hand 68,485 36,241
2,110,367 843,526
CREDITORS
Amounts falling due within one year 7 2,388,067 468,823
NET CURRENT (LIABILITIES)/ASSETS (277,700 ) 374,703
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,204,416

817,537

PROVISIONS FOR LIABILITIES 8,962 40
NET ASSETS 1,195,454 817,497

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 - 342,468
Retained earnings 1,195,452 475,027
SHAREHOLDERS' FUNDS 1,195,454 817,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2024 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 13 August 2024 and were signed on its behalf by:





Mr C W Holmes - Director


A & C Leisure (Holdings) Limited (Registered number: 05224146)

Notes to the Financial Statements
for the period 1 October 2022 to 28 February 2024

1. STATUTORY INFORMATION

A & C Leisure (Holdings) 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 2023, 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 - 33% on reducing balance and 25% 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

A & C Leisure (Holdings) Limited (Registered number: 05224146)

Notes to the Financial Statements - continued
for the period 1 October 2022 to 28 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 4
At 28 February 2024 4
NET BOOK VALUE
At 28 February 2024 4

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 442,468 4,040 446,508
Additions 1,441,394 47,157 1,488,551
Disposals (442,468 ) (4,040 ) (446,508 )
At 28 February 2024 1,441,394 47,157 1,488,551
DEPRECIATION
At 1 October 2022 - 3,674 3,674
Charge for period - 6,566 6,566
Eliminated on disposal - (3,801 ) (3,801 )
At 28 February 2024 - 6,439 6,439
NET BOOK VALUE
At 28 February 2024 1,441,394 40,718 1,482,112
At 30 September 2022 442,468 366 442,834

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 383,013 5,374
Amounts owed by participating interests 1,482,225 690,840
Other debtors 7,153 -
1,872,391 696,214

As at 28th February 2024 the company was owed £148,953 (2022: £148,953) by its parent company Holmes Family Investments Ltd.

Also included in amounts owed by participating interests are amounts owed to the company from Restaurant 72 Limited of £617,807 (2022 £386,807) and North Wales Coffee Lounge Limited of £125,972 (2022 £155,080) both are companies in which Mr Holmes is also a director.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 1,598,500 -
Trade creditors 1,950 -
Amounts owed to participating interests 121,500 73,071
Taxation and social security 19,096 5,331
Other creditors 647,021 390,421
2,388,067 468,823

A & C Leisure (Holdings) Limited (Registered number: 05224146)

Notes to the Financial Statements - continued
for the period 1 October 2022 to 28 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 1,598,500 -

The bank loan is secured on property at Aberafon Holiday Park, Nefyn, Pwllheli, Gwynedd LL53 6LL and is in favour of Livestock (UK) Limited

9. RESERVES
Revaluation
reserve
£   
At 1 October 2022 342,468
Revaluation (342,468 )

At 28 February 2024 -

10. RELATED PARTY DISCLOSURES

During the year the company paid for expenses on behalf of North Wales Resorts (Snowdonia) Limited a company under common control. A the year end £582,735 (2023 £73,071 owed to) was due from 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 £6,758 was due to the company.

During the year the company bought stock from North Wales Resorts Ltd for £121,500, this was still outstanding at the year end.

11. ULTIMATE CONTROLLING PARTY

The ultimate control of the company lies with Craig Holmes on the basis that he owns all of the issued share capital in Holmes Family Investments Limited, which owns all of the issued share capital in A & C Leisure (Holdings) Limited.