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REGISTERED NUMBER: 11862774 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Luna Park Leisure Ltd

Luna Park Leisure Ltd (Registered number: 11862774)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Luna Park Leisure Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C L Crow
D W Crow





REGISTERED OFFICE: Luna Park
Sandside
Scarborough
North Yorkshire
YO11 1PG





REGISTERED NUMBER: 11862774 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Luna Park Leisure Ltd (Registered number: 11862774)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 266,670 293,336
Tangible assets 5 303,463 324,950
570,133 618,286

CURRENT ASSETS
Debtors 6 683 4,507
Cash at bank and in hand 134,414 154,535
135,097 159,042
CREDITORS
Amounts falling due within one year 7 426,657 471,758
NET CURRENT LIABILITIES (291,560 ) (312,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,573

305,570

CREDITORS
Amounts falling due after more than one
year

8

(15,587

)

(58,258

)

PROVISIONS FOR LIABILITIES 11 (70,246 ) (76,220 )
NET ASSETS 192,740 171,092

CAPITAL AND RESERVES
Called up share capital 12 110 110
Retained earnings 192,630 170,982
SHAREHOLDERS' FUNDS 192,740 171,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Luna Park Leisure Ltd (Registered number: 11862774)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





C L Crow - Director


Luna Park Leisure Ltd (Registered number: 11862774)

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

1. STATUTORY INFORMATION

Luna Park 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statement are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Income is recognised when the conditions contained within a contract for services have been met.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of fifteen 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.

Lease premium are being amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over period of the lease
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 15% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Luna Park Leisure Ltd (Registered number: 11862774)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Lease
Goodwill premium Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 200,000 200,000 400,000
AMORTISATION
At 1 April 2023 53,332 53,332 106,664
Amortisation for year 13,333 13,333 26,666
At 31 March 2024 66,665 66,665 133,330
NET BOOK VALUE
At 31 March 2024 133,335 133,335 266,670
At 31 March 2023 146,668 146,668 293,336

Luna Park Leisure Ltd (Registered number: 11862774)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 58,843 388,948 9,705 1,639 459,135
Additions 8,200 2,324 36,047 5,050 51,621
Disposals (3,900 ) - - - (3,900 )
At 31 March 2024 63,143 391,272 45,752 6,689 506,856
DEPRECIATION
At 1 April 2023 9,778 121,671 2,395 341 134,185
Charge for year 4,564 58,633 6,002 280 69,479
Eliminated on disposal (271 ) - - - (271 )
At 31 March 2024 14,071 180,304 8,397 621 203,393
NET BOOK VALUE
At 31 March 2024 49,072 210,968 37,355 6,068 303,463
At 31 March 2023 49,065 267,277 7,310 1,298 324,950

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT - 2,840
Prepayments 683 1,667
683 4,507

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,247 9,994
Other loans (see note 9) 32,416 82,969
Taxation and social security 112,298 48,987
Other creditors 269,646 275,000
Directors' loan accounts - 52,983
Accruals and deferred income 2,050 1,825
426,657 471,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 15,587 25,842
Other loans (see note 9) - 32,416
15,587 58,258

Luna Park Leisure Ltd (Registered number: 11862774)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,247 9,994
Other loans 32,416 82,969
42,663 92,963

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,506 10,247
Other loans - 1-2 years - 32,416
10,506 42,663

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,081 15,595

The company has two loans.

The bank loan is repayable over 6 years, with no repayment due for the first year, at an interest rate of 2.5% commencing after 1 year. The loan is due to mature in September 2026.

The second loan of £400,000 is repayable over 5 years at an interest rate of 7.86% per annum. The loan is due to mature in June 2024.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 64,000 64,000
Between one and five years 256,000 256,000
In more than five years 320,000 384,000
640,000 704,000

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 70,246 76,220

Deferred
tax
£   
Balance at 1 April 2023 76,220
Provided during year (5,974 )
Balance at 31 March 2024 70,246

Luna Park Leisure Ltd (Registered number: 11862774)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 A Ordinary £1 10 10
110 110

13. RELATED PARTY DISCLOSURES

2024 2023

£ £
Amount due to the directors - 52,983

No interest has been charged.