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REGISTERED NUMBER: 00842819 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARKSIDE LEISURE LIMITED

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKSIDE LEISURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P C Sampson
Mrs G F Sampson
Mrs L K Whitnall
A Mansbridge
S Solazzo FCA
A C Smullen
T P Whitnall



SECRETARY: Mrs G F Sampson



REGISTERED OFFICE: Paradise Wildlife Park
White Stubbs Lane
Broxbourne
Hertfordshire
EN10 7QA



REGISTERED NUMBER: 00842819 (England and Wales)



ACCOUNTANTS: Brindley Millen Ltd
167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH



SOLICITORS: Longmores
24 Castle Street
Hertford
Hertfordshire
SG14 1HP

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,475 22,212
Tangible assets 5 58,988 1,831
Investments 6 251,550 251,450
Investment property 7 7,250,494 6,101,549
7,584,507 6,377,042

CURRENT ASSETS
Debtors: amounts falling due within one
year

8

16,635

60,849
Cash at bank 1,373,390 2,050,539
1,390,025 2,111,388
CREDITORS
Amounts falling due within one year 9 322,608 218,785
NET CURRENT ASSETS 1,067,417 1,892,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,651,924

8,269,645

PROVISIONS FOR LIABILITIES 10 740,319 558,802
NET ASSETS 7,911,605 7,710,843

CAPITAL AND RESERVES
Called up share capital 11 3,500 3,500
Fair value reserve 12 3,232,114 3,408,577
Retained earnings 12 4,675,991 4,298,766
SHAREHOLDERS' FUNDS 7,911,605 7,710,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

BALANCE SHEET - continued
31 DECEMBER 2023


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 18 September 2024 and were signed on its behalf by:




Mrs L K Whitnall - Director



T P Whitnall - Director


PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Parkside Leisure 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.

Having taken into account cash flow forecasts for the foreseeable period, the financial statements have been prepared on a going concern basis.

The financial statements are prepared in sterling which is also the functional currency.

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of these financial statements requires the Directors to exercise judgement and make estimates and assumptions on the book values of assets and liabilities that may not be available from other traditional sources. These estimates and assumptions are based on past experience and factors that are considered to be of relevance and are assessed annually on an ongoing basis. Any adjustments to values are recognised in the period of assessment.

FINANCIAL INSTRUMENTS AND CASH AND CASH EQUIVALENTS
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and recorded at the initial transaction cost. A provision for non-recovery of debtors is made where management consider that a risk exists that the company will not be able to recover fully amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

TURNOVER
Turnover represents rental income receivable and consultancy services provided.

INTANGIBLE ASSETS
Trade mark registration fees are included at cost.

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 - 15% on cost or reducing balance
Furniture & office equipment - 20% or 25% on cost
Motor vehicles - 25% on reducing balance

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company makes contributions to personal pension schemes on behalf of the directors. The amount charged to the profit and loss account represents the amounts contributed during the period.

INVESTMENT PROPERTIES
Investment properties are held for long term investment and are included in the balance sheet at fair value. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve. Depreciation is not provided on investment properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 22,212
Additions 1,263
At 31 December 2023 23,475
NET BOOK VALUE
At 31 December 2023 23,475
At 31 December 2022 22,212

5. TANGIBLE FIXED ASSETS
Furniture
Plant and & office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 54,401 46,563 10,900 111,864
Additions 25,400 - 35,210 60,610
Disposals - - (10,900 ) (10,900 )
At 31 December 2023 79,801 46,563 35,210 161,574
DEPRECIATION
At 1 January 2023 52,763 46,563 10,707 110,033
Charge for year 245 - 3,015 3,260
Eliminated on disposal - - (10,707 ) (10,707 )
At 31 December 2023 53,008 46,563 3,015 102,586
NET BOOK VALUE
At 31 December 2023 26,793 - 32,195 58,988
At 31 December 2022 1,638 - 193 1,831

The carrying values are reviewed at the year end for impairment if circumstances indicate that the full carrying values may not be recoverable.

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2023 251,450
Additions 100
At 31 December 2023 251,550
NET BOOK VALUE
At 31 December 2023 251,550
At 31 December 2022 251,450

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Paradise Wildlife Park Limited
Registered office: Paradise Wildlife Park White Stubbs Lane Broxbourne Herts EN10 7QA
Nature of business: Catering services and retail merchandising
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 3,247,855 2,685,071
Profit for the year 562,782 271,712

Parkside Construction Services Ltd
Registered office: Paradise Wildlife Park White Stubbs Lane Broxbourne Herts EN10 7QA
Nature of business: Ceased trading
%
Class of shares: holding
Ordinary £1 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (4,484 ) (4,397 )
Loss for the year (87 ) (97 )

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 6,101,549
Additions 1,148,945
At 31 December 2023 7,250,494
NET BOOK VALUE
At 31 December 2023 7,250,494
At 31 December 2022 6,101,549

The Directors are of the opinion that the fair value of these properties is not materially different to their book values.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 38,117
Amounts owed by group undertakings 550 -
Other debtors 262 1,800
Directors' current accounts 357 2,177
Prepayments and accrued income 15,466 18,755
16,635 60,849

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 35,277 16,593
Amounts owed to group undertakings 17,155 4,776
Corporation tax 154,418 153,996
Social security and other taxes 20,421 23,086
Other creditors 200 -
Directors' current accounts 22,366 17,834
Accruals and deferred income 72,771 2,500
322,608 218,785

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Provision 740,319 558,802

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 558,802
Charge to Income Statement during year 181,517
Balance at 31 December 2023 740,319

Provision for Deferred Tax on Investment Properties amounted to £735,265 (2022-£558,802) at the Balance Sheet date and is in respect of Corporation Tax that would become payable if the properties were sold at their book values.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
3,500 Ordinary £1 3,500 3,500

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 4,298,766 3,408,577 7,707,343
Profit for the year 340,762 340,762
Dividends (140,000 ) (140,000 )
Provision for deferred tax 176,463 (176,463 ) -
At 31 December 2023 4,675,991 3,232,114 7,908,105

Deferred tax on property valuations are accounted for in the Fair value reserve.

PARKSIDE LEISURE LIMITED (REGISTERED NUMBER: 00842819)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs G F Sampson
Balance outstanding at start of year 1,748 -
Amounts advanced 64,544 58,660
Amounts repaid (66,292 ) (56,912 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,748

Mrs L K Whitnall
Balance outstanding at start of year 429 429
Amounts advanced 5,552 -
Amounts repaid (5,624 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 357 429

Directors' loans are interest free and repayable on demand.

14. RELATED PARTY DISCLOSURES

L K Whitnall is a trustee of The Big Cat Sanctuary Ltd, a registered charity. During the year £124,075 (2022-£124,075) was charged for rent and services of which £NIL was outstanding at the year end (2022-£6,917l). The company made a donation of £2,153 during the year (2022-£2,550)..
The company charged rent and services amounting to £954,311 (2022-£938,682) to Hertfordshire Zoo, a registered charity in which L K Whitnall is a director of the corporate trustee companies managing the charity's affairs. All monies due to the company from the charity were paid by the year end and the previous period..The company made a donation of £680 during the year.
Rent received in the year from P C Sampson amounted to £7,200 (2022-£7,200).
The company acquired goods and services during the year amounting to £50,400 (2022-£nil) from Stephen Sampson and M7 Connects Ltd, a company in which a material interest is held.
During the year the company was charged £77,500 by Zoo Brothers Limited for media consultancy services. This is a company in which T P Whitnall has a material interest.The amount due to Zoo Brothers Limited at the year end was £70,000.

15. ULTIMATE CONTROLLING PARTY

P C Sampson is the company's ultimate controller by virtue of his majority shareholding.