Company Registration No. 02085031 (England and Wales)
SHIREBURNE PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024
29 February 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SHIREBURNE PARK LIMITED
COMPANY INFORMATION
Directors
Mrs L E Rostron
Mr A J Rostron
Secretary
Mrs L E Rostron
Company number
02085031
Registered office
Edisford Road
Clitheroe
Lancashire
BB7 3LB
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SHIREBURNE PARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SHIREBURNE PARK LIMITED
BALANCE SHEET
AS AT 29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
390,292
396,794
Current assets
Stocks
36,957
84,282
Debtors
4
1,584,651
1,629,822
Cash at bank and in hand
785,401
723,309
2,407,009
2,437,413
Creditors: amounts falling due within one year
5
(911,045)
(905,355)
Net current assets
1,495,964
1,532,058
Total assets less current liabilities
1,886,256
1,928,852
Provisions for liabilities
(60,710)
(62,487)
Net assets
1,825,546
1,866,365
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,825,446
1,866,265
Total equity
1,825,546
1,866,365

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 October 2024 and are signed on its behalf by:
Mrs L E Rostron
Director
Company registration number 02085031 (England and Wales)
SHIREBURNE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Shireburne Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is Edisford Road, Clitheroe, Lancashire, BB7 3LB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

 

Pitch fees and rents received are recognised in the period to which they relate.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0% & 10% on cost
Plant and equipment
15% on cost
Fixtures and fittings
15% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SHIREBURNE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
8
SHIREBURNE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2023
149,587
453,798
188,931
203,426
995,742
Additions
4,350
6,708
3,510
121,248
135,816
Disposals
-
0
(66,643)
(3,516)
-
0
(70,159)
At 29 February 2024
153,937
393,863
188,925
324,674
1,061,399
Depreciation and impairment
At 1 March 2023
3,743
303,275
175,772
116,158
598,948
Depreciation charged in the year
3,743
33,989
4,075
62,898
104,705
Eliminated in respect of disposals
-
0
(29,030)
(3,516)
-
0
(32,546)
At 29 February 2024
7,486
308,234
176,331
179,056
671,107
Carrying amount
At 29 February 2024
146,451
85,629
12,594
145,618
390,292
At 28 February 2023
145,844
150,523
13,159
87,268
396,794
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,466
14,406
Other debtors
1,578,185
1,615,416
1,584,651
1,629,822
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
63,088
43,401
Amounts owed to group undertakings
319,198
301,688
Taxation and social security
76,652
182,695
Other creditors
452,107
377,571
911,045
905,355
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