45
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-12-02
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
14521408
2022-12-02
2023-12-31
14521408
2023-12-31
14521408
core:PlantMachinery
2022-12-02
2023-12-31
14521408
core:FurnitureFittings
2022-12-02
2023-12-31
14521408
core:MotorVehicles
2022-12-02
2023-12-31
14521408
bus:RegisteredOffice
2022-12-02
2023-12-31
14521408
bus:OrdinaryShareClass1
2022-12-02
2023-12-31
14521408
bus:LeadAgentIfApplicable
2022-12-02
2023-12-31
14521408
bus:Director1
2022-12-02
2023-12-31
14521408
bus:Director2
2022-12-02
2023-12-31
14521408
core:PlantMachinery
2023-12-31
14521408
core:FurnitureFittings
2023-12-31
14521408
core:MotorVehicles
2023-12-31
14521408
core:WithinOneYear
2023-12-31
14521408
core:ShareCapital
2023-12-31
14521408
core:RetainedEarningsAccumulatedLosses
2023-12-31
14521408
bus:SmallEntities
2022-12-02
2023-12-31
14521408
bus:AuditExemptWithAccountantsReport
2022-12-02
2023-12-31
14521408
bus:FullAccounts
2022-12-02
2023-12-31
14521408
bus:SmallCompaniesRegimeForAccounts
2022-12-02
2023-12-31
14521408
bus:PrivateLimitedCompanyLtd
2022-12-02
2023-12-31
14521408
bus:OrdinaryShareClass1
2023-12-31
COMPANY REGISTRATION NUMBER:
14521408
Filleted Unaudited Financial Statements |
|
Period from 2 December 2022 to 31 December 2023
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Officers and Professional Advisers |
|
The board of directors |
Mr K Edwards |
|
Mr G Edwards |
|
|
Registered office |
Parc Le Breos House |
|
Penmaen |
|
Swansea |
|
United Kingdom |
|
SA3 2HA |
|
|
Accountants |
James & Uzzell Ltd |
|
Chartered Certified Accountants |
|
Axis 15, Axis Court |
|
Mallard Way |
|
Riverside Business Park |
|
Swansea |
|
SA7 0AJ |
|
|
Statement of Financial Position |
|
31 December 2023
FIXED ASSETS
Tangible assets |
5 |
155,005 |
|
|
|
CURRENT ASSETS
Stocks |
6 |
2,000 |
Debtors |
7 |
675,369 |
Cash at bank and in hand |
338,583 |
|
------------ |
|
1,015,952 |
|
|
|
CREDITORS: amounts falling due within one year |
8 |
1,076,271 |
|
------------ |
NET CURRENT LIABILITIES |
60,319 |
|
--------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
94,686 |
|
|
|
PROVISIONS |
38,751 |
|
-------- |
NET ASSETS |
55,935 |
|
-------- |
|
|
CAPITAL AND RESERVES
Called up share capital |
9 |
4 |
Profit and loss account |
55,931 |
|
-------- |
SHAREHOLDERS FUNDS |
55,935 |
|
-------- |
|
|
|
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.
For the period 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 period 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
.
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2024
, and are signed on behalf of the board by:
Kerry Edwards
Kerry Edwards
Director
Company registration number:
14521408
Notes to the Financial Statements |
|
Period from 2 December 2022 to 31 December 2023
1.
GENERAL INFORMATION
Parc Le Breos Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements is 13 months. These financial statements only include the results of the individual entity made up to 31 December 2023. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.
(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 13 for the net carrying amount of the debtors and associated impairment provision.
(iii) Stock Provisioning
When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.
(iv) Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes.
(v) Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover is recognised on the hotels primary operations when rooms are occupied and when food and beverages are sold. Interest Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
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 |
- |
10% reducing balance |
|
Fixtures and fittings |
- |
10% reducing balance |
|
Motor vehicles |
- |
20% reducing balance |
|
|
|
|
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
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 stock to its present location and condition.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
45
.
5.
TANGIBLE ASSETS
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 2 December 2022 |
– |
– |
– |
– |
Additions |
38,000 |
– |
– |
38,000 |
Disposals |
(
4,863) |
– |
– |
(
4,863) |
Transfers |
|
|
|
|
|
--------- |
-------- |
------ |
--------- |
At 31 December 2023 |
108,063 |
55,389 |
2,304 |
165,756 |
|
--------- |
-------- |
------ |
--------- |
Depreciation |
|
|
|
|
At 2 December 2022 |
– |
– |
– |
– |
Charge for the period |
6,397 |
4,282 |
363 |
11,042 |
Disposals |
(
291) |
– |
– |
(
291) |
|
--------- |
-------- |
------ |
--------- |
At 31 December 2023 |
6,106 |
4,282 |
363 |
10,751 |
|
--------- |
-------- |
------ |
--------- |
Carrying amount |
|
|
|
|
At 31 December 2023 |
101,957 |
51,107 |
1,941 |
155,005 |
|
--------- |
-------- |
------ |
--------- |
|
|
|
|
|
6.
STOCKS
|
31 Dec 23 |
|
£ |
Raw materials and consumables |
2,000 |
|
------ |
|
|
7.
DEBTORS
|
31 Dec 23 |
|
£ |
Trade debtors |
1,166 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
665,973 |
Other debtors |
8,230 |
|
--------- |
|
675,369 |
|
--------- |
|
|
8.
CREDITORS:
amounts falling due within one year
|
31 Dec 23 |
|
£ |
Trade creditors |
23,562 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
294,582 |
Corporation tax |
8,042 |
Social security and other taxes |
33,536 |
Other creditors |
716,549 |
|
------------ |
|
1,076,271 |
|
------------ |
|
|
9.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
31 Dec 23 |
|
No. |
£ |
Ordinary shares of £ 1 each |
4 |
4 |
|
---- |
---- |
|
|
|
10.
PARENT UNDERTAKINGS
The ultimate parent company is Parc Le Breos Holdings Limited, a company registered in Great Britain.