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10122468
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2022-12-31
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2022-12-31
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2022-12-31
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2023-12-31
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Company registration number:
10122468
Aqua Parks Group Limited
Unaudited filleted financial statements
31 December 2023
Aqua Parks Group Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Aqua Parks Group Limited
Directors and other information
|
|
|
|
Directors |
Mr Simon Spencer Paramour James |
|
|
Mrs Helen Judith Paramour James |
|
|
Mrs Lucy Mott |
|
|
Mr Connor James |
|
|
|
|
|
|
|
Company number |
10122468 |
|
|
|
|
|
|
|
Registered office |
Suite 4 Europa House |
|
|
Europa Way |
|
|
Lichfield |
|
|
Staffordshire |
|
|
WS14 9TZ |
|
|
|
|
|
|
|
Business address |
Water Sports Centre |
|
|
Bull Brigg lane, Whitwell |
|
|
Oakham |
|
|
Rutland |
|
|
LE15 8BL |
|
|
|
|
|
|
|
Accountants |
Lindley & Co |
|
|
Suite 4 Europa House |
|
|
Europa Way |
|
|
Lichfield |
|
|
Staffordshire |
|
|
WS14 9TZ |
|
|
|
Aqua Parks Group Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Aqua Parks Group Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aqua Parks Group Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Aqua Parks Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Aqua Parks Group Limited and state those matters that we have agreed to state to the board of directors of Aqua Parks Group Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aqua Parks Group Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Aqua Parks Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aqua Parks Group Limited. You consider that Aqua Parks Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Aqua Parks Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lindley & Co
Chartered Certified Accountants
Suite 4 Europa House
Europa Way
Lichfield
Staffordshire
WS14 9TZ
26 June 2024
Aqua Parks Group Limited
Statement of financial position
31 December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
1,043,229 |
|
|
|
1,145,552 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,043,229 |
|
|
|
1,145,552 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
- |
|
|
|
5,805 |
|
|
Debtors |
|
6 |
131,315 |
|
|
|
228,679 |
|
|
Cash at bank and in hand |
|
|
83,201 |
|
|
|
101,691 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
214,516 |
|
|
|
336,175 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
295,221) |
|
|
|
(
258,445) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current (liabilities)/assets |
|
|
|
|
(
80,705) |
|
|
|
77,730 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
962,524 |
|
|
|
1,223,282 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
33,321) |
|
|
|
(
52,929) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
156,311) |
|
|
|
(
156,311) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
772,892 |
|
|
|
1,014,042 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
772,792 |
|
|
|
1,013,942 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
772,892 |
|
|
|
1,014,042 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 June 2024
, and are signed on behalf of the board by:
Mr Simon Spencer Paramour James
Director
Company registration number:
10122468
Aqua Parks Group Limited
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Aqua Parks Group Limited, Suite 4 Europa House, Europa Way, Lichfield, Staffordshire, WS14 9TZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of management charges and asset rentals receivable,
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2023 |
1,786,318 |
24,040 |
68,400 |
1,878,758 |
|
|
|
|
Additions |
98,979 |
12,183 |
75,106 |
186,268 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 December 2023 |
1,885,297 |
36,223 |
143,506 |
2,065,026 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2023 |
715,438 |
668 |
17,100 |
733,206 |
|
|
|
|
Charge for the year |
243,156 |
9,558 |
35,877 |
288,591 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 December 2023 |
958,594 |
10,226 |
52,977 |
1,021,797 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2023 |
926,703 |
25,997 |
90,529 |
1,043,229 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 December 2022 |
1,070,880 |
23,372 |
51,300 |
1,145,552 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
131,315 |
95,276 |
|
Other debtors |
|
- |
133,403 |
|
|
|
_______ |
_______ |
|
|
|
131,315 |
228,679 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
15,000 |
15,000 |
|
Trade creditors |
|
38,104 |
2,218 |
|
Social security and other taxes |
|
95,355 |
33,079 |
|
Other creditors |
|
146,762 |
208,148 |
|
|
|
_______ |
_______ |
|
|
|
295,221 |
258,445 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loans are secured by a charge over the company's assets.
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
33,321 |
52,929 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loan is secured by a charge over the company's assets.
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Simon Spencer Paramour James |
(
200,000) |
- |
54,054 |
(
145,946) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Simon Spencer Paramour James |
550,000 |
(
750,000) |
- |
(
200,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
The director's advance is interest free and repayable on demand.
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Aqua Park Rutland Limited |
380,000 |
340,000 |
102,679 |
77,958 |
|
Aqua Park Cardiff Limited |
120,000 |
300,000 |
28,637 |
- |
|
Aqua Park Lakeside Limited |
40,000 |
210,000 |
(
37,615) |
54,000 |
|
Aqua Park Grafham Limited |
- |
(
45,000) |
- |
- |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The directors have a controlling interest in Aqua Park Rutland Limited, Aqua Park Cardiff Limited, Aqua Park Lakeside Limited and Aqua Park Grafham Limited.
11.
Controlling party
The company is controlled by Simon Spencer Paramour James who owns 100% of the issued share capital.