Registered number
05272564
Punchbowl Park Limited
Filleted Accounts
31 December 2023
Punchbowl Park Limited
Registered number: 05272564
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 4,107 4,107
Tangible assets 4 5,597 7,825
9,704 11,932
Current assets
Debtors 5 7,625 6,539
Cash at bank and in hand 98,480 93,174
106,105 99,713
Creditors: amounts falling due within one year 6 (19,180) (13,511)
Net current assets 86,925 86,202
Net assets 96,629 98,134
Capital and reserves
Called up share capital 100 100
Profit and loss account 96,529 98,034
Shareholders' funds 96,629 98,134
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J P Turner
Director
Approved by the board on 18 September 2024
Punchbowl Park Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 4,107
At 31 December 2023 4,107
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 4,107
At 31 December 2022 4,107
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 40,000 6,662 4,473 51,135
At 31 December 2023 40,000 6,662 4,473 51,135
Depreciation
At 1 January 2023 34,000 5,230 4,080 43,310
Charge for the year 2,000 149 79 2,228
At 31 December 2023 36,000 5,379 4,159 45,538
Net book value
At 31 December 2023 4,000 1,283 314 5,597
At 31 December 2022 6,000 1,432 393 7,825
5 Debtors 2023 2022
£ £
Other debtors 7,625 6,539
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,609 8,339
Corporation tax 743 2,110
Other taxes and social security costs 4,625 3,062
Other creditors 1,203 -
19,180 13,511
7 Other information
Punchbowl Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
Montgomery Chambers
22 Hardwick Street
Buxton
Derbyshire
SK17 6DH
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