Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr R Z Baggott 30/11/2023 29/05/2018 Mrs C C Carlyle 09/08/2023 02/06/2021 Mr S J Curnow 09/08/2023 Mrs S Dann 09/08/2023 Mrs C L Deacon 09/08/2023 14/04/2021 Mr T Evans 09/08/2023 Mr T W Geary 11/05/2015 Mr A D Kemp 18/05/2006 Mrs M E Manning 16/03/2020 Mr B Patel 09/08/2023 02/06/2021 Mr R Stevens 01/12/2023 25 September 2024 The principal activity of the company is that of operating a function and events venue. 02951567 2023-12-31 02951567 bus:Director1 2023-12-31 02951567 bus:Director2 2023-12-31 02951567 bus:Director3 2023-12-31 02951567 bus:Director4 2023-12-31 02951567 bus:Director5 2023-12-31 02951567 bus:Director6 2023-12-31 02951567 bus:Director7 2023-12-31 02951567 bus:Director8 2023-12-31 02951567 bus:Director9 2023-12-31 02951567 bus:Director10 2023-12-31 02951567 bus:Director11 2023-12-31 02951567 2022-12-31 02951567 core:CurrentFinancialInstruments 2023-12-31 02951567 core:CurrentFinancialInstruments 2022-12-31 02951567 core:Non-currentFinancialInstruments 2023-12-31 02951567 core:Non-currentFinancialInstruments 2022-12-31 02951567 core:ShareCapital 2023-12-31 02951567 core:ShareCapital 2022-12-31 02951567 core:RetainedEarningsAccumulatedLosses 2023-12-31 02951567 core:RetainedEarningsAccumulatedLosses 2022-12-31 02951567 core:PlantMachinery 2022-12-31 02951567 core:FurnitureFittings 2022-12-31 02951567 core:PlantMachinery 2023-12-31 02951567 core:FurnitureFittings 2023-12-31 02951567 core:MoreThanFiveYears 2023-12-31 02951567 core:MoreThanFiveYears 2022-12-31 02951567 bus:OrdinaryShareClass1 2023-12-31 02951567 2023-01-01 2023-12-31 02951567 bus:FilletedAccounts 2023-01-01 2023-12-31 02951567 bus:SmallEntities 2023-01-01 2023-12-31 02951567 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02951567 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02951567 bus:Director1 2023-01-01 2023-12-31 02951567 bus:Director2 2023-01-01 2023-12-31 02951567 bus:Director3 2023-01-01 2023-12-31 02951567 bus:Director4 2023-01-01 2023-12-31 02951567 bus:Director5 2023-01-01 2023-12-31 02951567 bus:Director6 2023-01-01 2023-12-31 02951567 bus:Director7 2023-01-01 2023-12-31 02951567 bus:Director8 2023-01-01 2023-12-31 02951567 bus:Director9 2023-01-01 2023-12-31 02951567 bus:Director10 2023-01-01 2023-12-31 02951567 bus:Director11 2023-01-01 2023-12-31 02951567 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 02951567 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 02951567 2022-01-01 2022-12-31 02951567 core:PlantMachinery 2023-01-01 2023-12-31 02951567 core:FurnitureFittings 2023-01-01 2023-12-31 02951567 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 02951567 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 02951567 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02951567 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 02951567 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02951567 (England and Wales)

MOUNT BATTEN PARK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MOUNT BATTEN PARK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MOUNT BATTEN PARK LIMITED

BALANCE SHEET

As at 31 December 2023
MOUNT BATTEN PARK LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 9,971 14,880
9,971 14,880
Current assets
Stocks 4,873 5,699
Debtors 4 4,720 6,279
Cash at bank and in hand 15,593 34
25,186 12,012
Creditors: amounts falling due within one year 5 ( 77,735) ( 327,518)
Net current liabilities (52,549) (315,506)
Total assets less current liabilities (42,578) (300,626)
Creditors: amounts falling due after more than one year 6 ( 348,740) 0
Net liabilities ( 391,318) ( 300,626)
Capital and reserves
Called-up share capital 7 435,246 435,246
Profit and loss account ( 826,564 ) ( 735,872 )
Total shareholder's deficit ( 391,318) ( 300,626)

For the financial year 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 financial statements of Mount Batten Park Limited (registered number: 02951567) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

Mr R Stevens
Director
MOUNT BATTEN PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MOUNT BATTEN PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mount Batten Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 70 Lawrence Road,, Mount Batten Plymstock, Plymouth, PL9 9SJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 20

The directors received no remuneration from the company during the year.

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 January 2023 22,935 72,249 95,184
Additions 0 399 399
At 31 December 2023 22,935 72,648 95,583
Accumulated depreciation
At 01 January 2023 22,935 57,369 80,304
Charge for the financial year 0 5,308 5,308
At 31 December 2023 22,935 62,677 85,612
Net book value
At 31 December 2023 0 9,971 9,971
At 31 December 2022 0 14,880 14,880

4. Debtors

2023 2022
£ £
Other debtors 4,720 6,279

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,764 1,185
Amounts owed to Group undertakings 11,670 11,168
Other taxation and social security 6,146 3,741
Other creditors 56,155 311,424
77,735 327,518

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 348,740 0

Included in other creditors is a loan totalling £350,000 (2022: £nil) which is secured over property owned by Mount Batten Park Limited's parent company, Mount Batten Sailing and Water Sports Centre. A balance of £1,260 has been disclosed in creditors falling due within one year.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Other creditors (repayable by instalments) 186,749 0

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
435,246 Ordinary shares shares of £ 1.00 each 435,246 435,246

8. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £100 (2022 - £101).

9. Related party transactions

Summary of transactions with parent

The company has taken advantage of the exemption in FRS102 'Related Party Disclosures' from disclosing transactions with other wholly owned members of the group.

Summary of transactions with entities of joint control or significant interest

Mount Batten Centre Charity Trust
During the year the company operated a loan account with Mount Batten Centre Charity Trust. Mount Batten Park Limited supplied staff costing £138,425 (2022: £152,959) to the Mount Batten Centre Charity Trust. The company raised capital in the year by way of a loan from Plymouth City Council totalling £350,000, which was used to repay amounts owed to Mount Batten Centre Charity Trust. At the balance sheet date, £22,539 (2022: £302,416) was due to Mount Batten Centre Charity Trust.

Mount Batten Sailing and Water Sports Centre
During the year Mount Batten Park Limited received a loan which is secured over property owned by its parent company, Mount Batten Sailing and Water Sports Centre. At the balance sheet date, the total secured balance on this loan was £350,000 (2022: £nil) and has been included within other creditors.

10. Ultimate controlling party

Parent Company:

Mount Batten Sailing and Water Sports Centre
70 Lawrence Road, Mount Batten Plymstock, Plymouth, Devon, PL9 9SJ

The company's immediate parent is Mount Batten Sailing and Water Sports Centre, incorporated in England. These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.