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REGISTERED NUMBER: 12027033 (England and Wales)















Financial Statements for the Period 1 October 2022 to 30 November 2023

for

Lakeshore Leisure (Upottery) Limited

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)






Contents of the Financial Statements
for the Period 1 October 2022 to 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lakeshore Leisure (Upottery) Limited

Company Information
for the Period 1 October 2022 to 30 November 2023







DIRECTORS: R J R Houe
P J R Houe
N J G Houe





REGISTERED OFFICE: 1st Floor, Olympus House
Quedgeley
Gloucester
Gloucestershire
GL2 4NF





REGISTERED NUMBER: 12027033 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Balance Sheet
30 November 2023

30.11.23 30.9.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 51,757 62,561
Tangible assets 5 5,449,663 3,886,820
5,501,420 3,949,381

CURRENT ASSETS
Stocks 13,328 13,223
Debtors 6 130,856 846,784
Cash at bank 50,553 115,891
194,737 975,898
CREDITORS
Amounts falling due within one year 7 (5,169,557 ) (4,318,751 )
NET CURRENT LIABILITIES (4,974,820 ) (3,342,853 )
TOTAL ASSETS LESS CURRENT LIABILITIES 526,600 606,528

CAPITAL AND RESERVES
Called up share capital 1,700 1,700
Share premium 168,299 168,299
Retained earnings 356,601 436,529
526,600 606,528

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 2 October 2024 and were signed on its behalf by:





N J G Houe - Director


Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Notes to the Financial Statements
for the Period 1 October 2022 to 30 November 2023

1. STATUTORY INFORMATION

Lakeshore Leisure (Upottery) 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

Going concern
The directors have prepared detailed forecasts and consider that the company has adequate financial resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from approval of these accounts.

The business model is based around generating continuing revenues from the current vendor lines that the company has been representing for several years. They have reviewed the costs incurred in the business and it is anticipated that profits will continue to be generated in future periods which will generate adequate cash to ensure the on-going strength of the business.

The directors have also prepared various projections scenarios considering the potential impact of changing market conditions and consider the company has the flexibility to re-plan the business where/if necessary whilst maintaining adequate financial resources to continue in operational existence for the foreseeable future for the various scenarios.

For those reasons the directors continue to adopt the going concern basis in preparing the annual report and financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 30 November 2023

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

Actual results may differ from these estimates.

The estimates and underlying assumption are reviewed on a regular and ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Information about assumptions and estimates uncertainties that have a significant risk or resulting in material adjustment adjustment within the next financial year are included below.

Critical accounting estimates and assumptions

In preparing these financial statements, the directors have had to make the following judgements:

- Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycle and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
Turnover represents the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover includes revenue earned from services in relation to the rental of lodges, which is recognised when the stay has been completed.

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 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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - at varying rates on cost
Plant and machinery - 10% on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and 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.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 29 (2022 - 20 ) .

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 30 November 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2022 83,500 57,526 141,026
Additions - 5,750 5,750
At 30 November 2023 83,500 63,276 146,776
AMORTISATION
At 1 October 2022 26,442 52,023 78,465
Charge for period 9,843 6,711 16,554
At 30 November 2023 36,285 58,734 95,019
NET BOOK VALUE
At 30 November 2023 47,215 4,542 51,757
At 30 September 2022 57,058 5,503 62,561

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 3,199,110 965,322 4,164,432
Additions 1,446,087 309,206 1,755,293
At 30 November 2023 4,645,197 1,274,528 5,919,725
DEPRECIATION
At 1 October 2022 106,094 171,518 277,612
Charge for period 94,381 98,069 192,450
At 30 November 2023 200,475 269,587 470,062
NET BOOK VALUE
At 30 November 2023 4,444,722 1,004,941 5,449,663
At 30 September 2022 3,093,016 793,804 3,886,820

Tangible fixed assets are included at cost less depreciation and impairment.

Included within Land and buildings is land totalling £1,100,000 in which no depreciation has been applied.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.9.22
£    £   
Amounts owed by group undertakings 63,127 799,148
Other debtors 67,729 47,636
130,856 846,784

Lakeshore Leisure (Upottery) Limited (Registered number: 12027033)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.9.22
£    £   
Trade creditors 93,114 108,894
Amounts owed to group undertakings 4,824,157 4,050,523
Taxation and social security 109,175 7,701
Other creditors 143,111 151,633
5,169,557 4,318,751

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

9. CAPITAL COMMITMENTS
30.11.23 30.9.22
£    £   
Contracted but not provided for in the
financial statements - 393,000

10. ULTIMATE CONTROLLING PARTY

The parent company is Lakeshore Leisure Group Limited, a limited company registered under 12026719 in England & Wales with its registered office being 1st Floor 10 Sabre Close, Quedgeley, Gloucester, United Kingdom, GL2 4NZ.

The ultimate parent company is considered to be Pierre Houe et Associes a limited company registered under 312 382 757 00069 in France with its registered office being 73 Parc D'activite L'argile, 06370 Mouans-Sartoux.

There is no ultimate controlling party.