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REGISTERED NUMBER: 01549051 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARADISE WILDLIFE PARK LIMITED

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)






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


PARADISE WILDLIFE PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs L K Whitnall
T P Whitnall
C K Whitnall



SECRETARY: Mrs R E Spiller



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



REGISTERED NUMBER: 01549051 (England and Wales)



ACCOUNTANTS: Solazzo & Co Ltd
Chartered Accountants
Woodlands,
27 Ferney Road
Cheshunt
Hertfordshire
EN7 6XQ



SOLICITORS: Longmores
24 Castle Street
Hertford
Hertfordshire
SG14 1HP

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,216 1,216
Tangible assets 5 979,907 968,461
981,123 969,677

CURRENT ASSETS
Stocks 6 82,451 138,738
Debtors 7 138,945 116,332
Cash at bank and in hand 2,607,729 1,817,503
2,829,125 2,072,573
CREDITORS
Amounts falling due within one year 8 452,387 264,726
NET CURRENT ASSETS 2,376,738 1,807,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,357,861

2,777,524

PROVISIONS FOR LIABILITIES 10 110,006 92,453
NET ASSETS 3,247,855 2,685,071

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 3,247,755 2,684,971
SHAREHOLDERS' FUNDS 3,247,855 2,685,071

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.

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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 13 September 2024 and were signed on its behalf by:




Mrs L K Whitnall - Director



C K Whitnall - Director


PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

1. STATUTORY INFORMATION

Paradise Wildlife Park 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.

GOING CONCERN
The Company's forecasts and projections indicate that the Company can meet its day-to-day working capital requirements as they fall due for a period of at least twelve months from the approval of the accounts. In addition, the Company has no external loan obligations and the Directors consider that the cash resources remain adequate to meet the Company's obligations as they fall due.

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.

TURNOVER
Turnover represents sales from catering and gift shop outlets, rides and other ancillary income.Revenue from retailing of goods, catering and other activities are recognised at the point of sale.

INTANGIBLE ASSETS
Intangible assets represents trade mark application costs incurred to date.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - at variable rates on cost or book value
Plant and machinery - 15% on cost or reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Items costing less than £750 are not capitalised.

STOCKS
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first in, first out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.


PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates two defined contribution pension schemes. Contributions to the scheme are charged to the profit and loss account in the period to which they relate. The company also makes contributions to the personal pension scheme on behalf of an employee. The amount charged to the profit and loss account represents the amount contributed during the period.

GRANTS
Grants received towards capital expenditure are recognised in the profit and loss account over the useful lives of the assets concerned.Where they relate to non capital projects, the income is recognised when received.

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 Group 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.

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. INTANGIBLE FIXED ASSETS
Intellectual
property
£   
COST
At 1 January 2023
and 31 December 2023 1,216
NET BOOK VALUE
At 31 December 2023 1,216
At 31 December 2022 1,216

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 1,896,675 563,865 56,467
Additions 15,031 143,097 -
Disposals - - -
At 31 December 2023 1,911,706 706,962 56,467
DEPRECIATION
At 1 January 2023 1,230,080 296,217 35,851
Charge for year 62,845 73,365 5,154
Eliminated on disposal - - -
At 31 December 2023 1,292,925 369,582 41,005
NET BOOK VALUE
At 31 December 2023 618,781 337,380 15,462
At 31 December 2022 666,595 267,648 20,616

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 116,979 30,557 2,664,543
Additions - 1,654 159,782
Disposals - (4,009 ) (4,009 )
At 31 December 2023 116,979 28,202 2,820,316
DEPRECIATION
At 1 January 2023 109,226 24,708 1,696,082
Charge for year 1,939 2,026 145,329
Eliminated on disposal - (1,002 ) (1,002 )
At 31 December 2023 111,165 25,732 1,840,409
NET BOOK VALUE
At 31 December 2023 5,814 2,470 979,907
At 31 December 2022 7,753 5,849 968,461

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

6. STOCKS
31.12.23 31.12.22
£    £   
Goods held for resale 82,451 138,738

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 64,288 64,229
Amounts owed by group undertakings 3,934 7,045
Other debtors 6,309 -
Amount due from parent company 17,022 4,677
Prepayments and accrued income 47,392 40,381
138,945 116,332

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 235,173 57,462
Corporation tax 176,055 73,919
Social security and other taxes 14,717 60,591
Other creditors 2,163 2,924
Accruals and deferred income 24,279 69,830
452,387 264,726

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 6,604 6,604
Between one and five years 15,964 15,964
22,568 22,568

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 110,006 92,453

Deferred
tax
£   
Balance at 1 January 2023 92,453
Movement in year 17,553
Balance at 31 December 2023 110,006

The provision for Deferred Tax is in respect of accelerated capital allowances available to the company which are expected to reverse in the foreseeable future.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

PARADISE WILDLIFE PARK LIMITED (REGISTERED NUMBER: 01549051)

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

12. RESERVES
Retained
earnings
£   

At 1 January 2023 2,684,971
Profit for the year 562,784
At 31 December 2023 3,247,755

13. RELATED PARTY DISCLOSURES

During the year the company provided goods and services amounting to £28,460 (2022-£843) to The Big Cat Sanctuary Ltd (BCS) a registered charity limited by guarantee in which L K Whitnall is a trustee. The amount due from BCS at the Balance Sheet date was £nil (2022-£1,013).
L K Whitnall is also a director of trustee companies acting on behalf of Hertfordshire Zoo, a registered charity formed under constitution. The company provided goods and services amounting to £301,766 (2022-£330,825) of which £69,776 (2022- £61,989) was outstanding at the Balance Sheet date. During the period the company also incurred rent,services and other charges amounting to £839,521 (2022-£770,595) of which £157,020 (2022-£13,891) was outstanding at the Balance Sheet date.
Included in Staff costs are severance payments totalling £nil (2022- £174,077) made to S P Sampson following termination of employment.
The company has taken advantage of exemptions 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 within the group.
P C Sampson is the majority shareholder of the parent company, Parkside Leisure Limited and is therefore the company's ultimate controller.