Grand Pier (Teignmouth) Limited 00686309 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is providing amusements on the Pier in Teignmouth. Digita Accounts Production Advanced 6.30.9574.0 true 00686309 2023-04-01 2024-03-31 00686309 2024-03-31 00686309 core:CapitalRedemptionReserve 2024-03-31 00686309 core:RetainedEarningsAccumulatedLosses 2024-03-31 00686309 core:ShareCapital 2024-03-31 00686309 core:CurrentFinancialInstruments 2024-03-31 00686309 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00686309 core:Non-currentFinancialInstruments 2024-03-31 00686309 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 00686309 core:FurnitureFittingsToolsEquipment 2024-03-31 00686309 core:LandBuildings 2024-03-31 00686309 core:MotorVehicles 2024-03-31 00686309 core:OtherPropertyPlantEquipment 2024-03-31 00686309 bus:SmallEntities 2023-04-01 2024-03-31 00686309 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00686309 bus:FullAccounts 2023-04-01 2024-03-31 00686309 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00686309 bus:RegisteredOffice 2023-04-01 2024-03-31 00686309 bus:CompanySecretary1 2023-04-01 2024-03-31 00686309 bus:Director2 2023-04-01 2024-03-31 00686309 bus:Director3 2023-04-01 2024-03-31 00686309 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00686309 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 00686309 core:LandBuildings 2023-04-01 2024-03-31 00686309 core:MotorVehicles 2023-04-01 2024-03-31 00686309 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00686309 countries:England 2023-04-01 2024-03-31 00686309 2023-03-31 00686309 core:FurnitureFittingsToolsEquipment 2023-03-31 00686309 core:LandBuildings 2023-03-31 00686309 core:MotorVehicles 2023-03-31 00686309 core:OtherPropertyPlantEquipment 2023-03-31 00686309 2022-04-01 2023-03-31 00686309 2023-03-31 00686309 core:CapitalRedemptionReserve 2023-03-31 00686309 core:RetainedEarningsAccumulatedLosses 2023-03-31 00686309 core:ShareCapital 2023-03-31 00686309 core:CurrentFinancialInstruments 2023-03-31 00686309 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00686309 core:Non-currentFinancialInstruments 2023-03-31 00686309 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00686309 core:FurnitureFittingsToolsEquipment 2023-03-31 00686309 core:LandBuildings 2023-03-31 00686309 core:MotorVehicles 2023-03-31 00686309 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 00686309

Grand Pier (Teignmouth) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Company Information

Directors

Mr N C R Brenner

Mrs L S Cooper

Company secretary

Mrs L S Cooper

Registered office

Grand Pier (Teignmouth) Ltd
The Pier
Teignmouth
Devon
TQ14 8BB

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

373,308

370,450

Current assets

 

Stocks

5

11,500

12,287

Debtors

6

4,080

14,761

Cash at bank and in hand

 

25,777

2,644

 

41,357

29,692

Creditors: Amounts falling due within one year

7

(250,442)

(219,905)

Net current liabilities

 

(209,085)

(190,213)

Total assets less current liabilities

 

164,223

180,237

Creditors: Amounts falling due after more than one year

7

(13,607)

(23,961)

Provisions for liabilities

(20,051)

(19,508)

Net assets

 

130,565

136,768

Capital and reserves

 

Called up share capital

22,600

22,600

Capital redemption reserve

7,400

7,400

Profit and loss account

100,565

106,768

Total equity

 

130,565

136,768

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
Mrs L S Cooper
Director

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Grand Pier (Teignmouth) Ltd
The Pier
Teignmouth
Devon
TQ14 8BB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The Coronavirus Job Retention Scheme, Small Business & Local Restrictions Supports grants have been recognised under the accrual model and are credited to income over the periods in which the compensated costs have been recognised.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Fire safety equipment

5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 11).

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Fire safety equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

267,776

414,921

10,080

440,763

1,133,540

Additions

-

-

-

27,886

27,886

At 31 March 2024

267,776

414,921

10,080

468,649

1,161,426

Depreciation

At 1 April 2023

-

401,003

9,754

352,333

763,090

Charge for the year

-

1,018

65

23,945

25,028

At 31 March 2024

-

402,021

9,819

376,278

788,118

Carrying amount

At 31 March 2024

267,776

12,900

261

92,371

373,308

At 31 March 2023

267,776

13,918

326

88,430

370,450

Included within the net book value of land and buildings above is £211,776 (2023 - £211,776) in respect of freehold land and buildings and £56,000 (2023 - £56,000) in respect of long leasehold land and buildings.
 

 

Grand Pier (Teignmouth) Limited
(Registration number: 00686309)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

11,500

12,287

6

Debtors

2024
£

2023
£

Other debtors

-

10,765

Prepayments and accrued income

4,080

3,996

Total current trade and other debtors

4,080

14,761

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

51,651

57,520

Trade creditors

 

15,603

11,019

Taxation and social security

 

17,766

3,272

Other creditors

 

114,818

131,977

Accrued expenses

 

32,267

5,182

Corporation tax liability

 

18,337

10,935

 

250,442

219,905

Due after one year

 

Loans and borrowings

8

13,607

23,961

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,354

9,882

Bank overdrafts

41,297

47,638

51,651

57,520

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,607

23,961