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REGISTERED NUMBER: 12919482 (England and Wales)















BARRY ISLAND LEISURE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023






BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


BARRY ISLAND LEISURE LTD

COMPANY INFORMATION
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023







DIRECTOR: P Collins





REGISTERED OFFICE: Recess Pavilion Western Shelter
Paget Road
Barry
CF62 5TQ





REGISTERED NUMBER: 12919482 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

BALANCE SHEET
29TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 154,000 176,000
Tangible assets 5 159,810 102,431
313,810 278,431

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 1,161 -
Cash at bank and in hand 31,507 31,352
36,668 35,352
CREDITORS
Amounts falling due within one year 7 285,675 218,433
NET CURRENT LIABILITIES (249,007 ) (183,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,803

95,350

CREDITORS
Amounts falling due after more than one
year

8

(50,000

)

(80,000

)

PROVISIONS FOR LIABILITIES 11 (15,357 ) (19,462 )
NET LIABILITIES (554 ) (4,112 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (555 ) (4,113 )
(554 ) (4,112 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29th September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29th September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

BALANCE SHEET - continued
29TH SEPTEMBER 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 director and authorised for issue on 25th September 2024 and were signed by:





P Collins - Director


BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023

1. STATUTORY INFORMATION

Barry Island Leisure Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of the estimation means that the actual outcomes could differ from those estimates.

Recoverability of debtors
Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated bad debt provision. Factors such as the age of the debt, prior experience and recoverability statistics are included in management's assessment.

Useful economic lives of tangible fixed assets
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the assets' useful lives. Changes in assets' use economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Provision for impairments
Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of of the factors considered for impairments can affect the value reported in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings 10% Straight Line
Plant and Machinery 20% Straight Line

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year). including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the currently affective rate under the contract is used.

A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or, substantially all of the risks and rewards of ownership of the financial asset have been transferred to another party or when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that right unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. In this case, the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

Taxation
Taxation for the period 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 period 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.

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Creditors
Creditors include accruals and certain other short and long-term financial instruments.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Going concern
These financial statements have been prepared on a going concern basis on the grounds that the Directors consider that the Company has sufficient cash resources to enable the Company to continue to meet its liabilities as they fall due.

Debtors
Debtors include certain other financial instruments and prepayments.
Prepayments are payments made for goods or services that will be received in the future.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2022
and 29th September 2023 220,000
AMORTISATION
At 1st October 2022 44,000
Charge for period 22,000
At 29th September 2023 66,000
NET BOOK VALUE
At 29th September 2023 154,000
At 30th September 2022 176,000

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2022 128,639
Additions 87,681
At 29th September 2023 216,320
DEPRECIATION
At 1st October 2022 26,208
Charge for period 30,302
At 29th September 2023 56,510
NET BOOK VALUE
At 29th September 2023 159,810
At 30th September 2022 102,431

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,161 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5 -
Trade creditors (1 ) -
Taxation and social security 19,353 7,524
Other creditors 266,318 210,909
285,675 218,433

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 50,000 80,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,980 14,500
Between one and five years 17,525 32,625
32,505 47,125

BARRY ISLAND LEISURE LTD (REGISTERED NUMBER: 12919482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 29TH SEPTEMBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other Loans 80,000 110,000

The loans are secured by a charge over the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 15,357 19,462

Deferred
tax
£   
Balance at 1st October 2022 19,462
Credit to Income Statement during period (4,105 )
Balance at 29th September 2023 15,357

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29th September 2023 and the year ended 30th September 2022:

2023 2022
£    £   
P Collins
Balance outstanding at start of period (33,833 ) (9,989 )
Amounts advanced (25,015 ) (23,844 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (58,848 ) (33,833 )

13. RELATED PARTY DISCLOSURES

Included in Other Creditors is a balance of £73395 (2022 - £63395) due to Smugglers Cove Barry Island Limited a company controlled by Mr P Collins.
Included in Other Creditors is a balance of £80000 (2022 - £80000) due to North Valley Leisure a business controlled by Mr P Collins.
Included in Other Creditors is a balance of £20000 (2022 - £nil) due to Scoops Barry Island Limited a company controlled by Mr P Collins.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Collins.