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REGISTERED NUMBER: 07004323 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Otterspool Adventure Centre Limited

Otterspool Adventure Centre Limited (Registered number: 07004323)






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


Otterspool Adventure Centre Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S A Cosgrove
Mrs C Cosgrove





REGISTERED OFFICE: 37 Otterspool Drive
Aigburth
Liverpool
Merseyside
L17 5AL





REGISTERED NUMBER: 07004323 (England and Wales)





ACCOUNTANTS: Myersons
Chartered Accountants
32 Derby Street
Ormskirk
Lancashire
L39 2BY

Otterspool Adventure Centre Limited (Registered number: 07004323)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,462,143 2,118,888
2,462,143 2,118,888

CURRENT ASSETS
Stocks 11,500 11,500
Debtors 6 1,492,781 1,085,858
Cash at bank and in hand 22,569 6,391
1,526,850 1,103,749
CREDITORS
Amounts falling due within one year 7 789,807 725,596
NET CURRENT ASSETS 737,043 378,153
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,199,186

2,497,041

CREDITORS
Amounts falling due after more than one year 8 (945,001 ) (407,895 )

PROVISIONS FOR LIABILITIES (146,513 ) (139,069 )
NET ASSETS 2,107,672 1,950,077

CAPITAL AND RESERVES
Called up share capital 1,088,843 1,088,843
Share premium 143,500 143,500
Retained earnings 875,329 717,734
2,107,672 1,950,077

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.

Otterspool Adventure Centre Limited (Registered number: 07004323)

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 25 September 2024 and were signed on its behalf by:





S A Cosgrove - Director


Otterspool Adventure Centre Limited (Registered number: 07004323)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Otterspool Adventure Centre 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.

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

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.

Lease Premium are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

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

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.

Otterspool Adventure Centre Limited (Registered number: 07004323)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2022 - 65 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 7,875
AMORTISATION
At 1 January 2023
and 31 December 2023 7,875
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 1,328,873 1,856,375 338,867
Additions 414,522 1,978 66,243
At 31 December 2023 1,743,395 1,858,353 405,110
DEPRECIATION
At 1 January 2023 164,410 1,123,002 210,263
Charge for year 31,351 133,506 21,364
At 31 December 2023 195,761 1,256,508 231,627
NET BOOK VALUE
At 31 December 2023 1,547,634 601,845 173,483
At 31 December 2022 1,164,463 733,373 128,604

Otterspool Adventure Centre Limited (Registered number: 07004323)

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 184,195 1,033 3,709,343
Additions 108,049 - 590,792
At 31 December 2023 292,244 1,033 4,300,135
DEPRECIATION
At 1 January 2023 92,098 682 1,590,455
Charge for year 60,975 341 247,537
At 31 December 2023 153,073 1,023 1,837,992
NET BOOK VALUE
At 31 December 2023 139,171 10 2,462,143
At 31 December 2022 92,097 351 2,118,888

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 51,703 17,099
Other debtors 1,441,078 1,068,759
1,492,781 1,085,858

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 38,968 321,941
Hire purchase contracts 82,314 81,512
Trade creditors 217,976 52,637
Taxation and social security 200,907 117,052
Other creditors 249,642 152,454
789,807 725,596

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 732,613 186,765
Hire purchase contracts 212,388 221,130
945,001 407,895

Otterspool Adventure Centre Limited (Registered number: 07004323)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 771,581 498,302
Other loans 161,581 42,602
Hire purchase contracts 294,702 302,642
1,227,864 843,546

National Westminster Bank plc holds a legal charge dated 14 November 2011 over the property owned by the company.

There are a number of loans that are secured by way of personal guarantees from the directors.

The hire purchase liabilities are secured on the assets that they have funded.

10. RELATED PARTY DISCLOSURES

There is a loan to the parent company of £1,398,646 (YE 2022 £1,029,842).

11. ULTIMATE CONTROLLING PARTY

The controlling party is S & C Leisure Holding Limited.

The ultimate controlling party is Mr and Mrs S Cosgrove.