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REGISTERED NUMBER: 08953206 (England and Wales)















Funtime Rides (UK) Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Funtime Rides (UK) Limited (Registered number: 08953206)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Funtime Rides (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J R Clements
Mrs V Clements



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 08953206 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank
40 High Street
Chipping Sodbury
Bristol
BS37 6AW

Funtime Rides (UK) Limited (Registered number: 08953206)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 36,145 35,281
36,145 35,281

CURRENT ASSETS
Stocks 94,497 82,277
Debtors 116,153 128,809
Cash at bank 22,733 19,169
233,383 230,255
CREDITORS
Amounts falling due within one year 127,332 90,398
NET CURRENT ASSETS 106,051 139,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,196

175,138

CREDITORS
Amounts falling due after more than one year (11,667 ) (21,667 )

PROVISIONS FOR LIABILITIES (4,663 ) (3,380 )
NET ASSETS 125,866 150,091

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,766 149,991
SHAREHOLDERS' FUNDS 125,866 150,091

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.

Funtime Rides (UK) Limited (Registered number: 08953206)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





J R Clements - Director


Funtime Rides (UK) Limited (Registered number: 08953206)

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

1. STATUTORY INFORMATION

Funtime Rides (UK) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Funtime Rides (UK) Limited (Registered number: 08953206)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 36,000
AMORTISATION
At 1 April 2023
and 31 March 2024 36,000
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

Funtime Rides (UK) Limited (Registered number: 08953206)

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

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 71,052
Additions 5,250
Disposals (865 )
At 31 March 2024 75,437
DEPRECIATION
At 1 April 2023 35,771
Charge for year 4,306
Eliminated on disposal (785 )
At 31 March 2024 39,292
NET BOOK VALUE
At 31 March 2024 36,145
At 31 March 2023 35,281

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 1,209
At 31 March 2024 1,209
DEPRECIATION
Charge for year 399
At 31 March 2024 399
NET BOOK VALUE
At 31 March 2024 810

Funtime Rides (UK) Limited (Registered number: 08953206)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 21,667 31,667
Hire purchase contracts 605 -
22,272 31,667

The bank loan is a government backed bounce back loan.

The hire purchase is secured against the asset to which it relates.

8. ULTIMATE CONTROLLING PARTY

The controlling party is J R Clements and Mrs V Clements.

The above directors controlled the company throughout the current period, by virtue of the fact they own all of the company's issued share capital.