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COMPANY REGISTRATION NUMBER: 11142558
Three Rivers Parc Limited
Unaudited financial statements
For the year ended
31 January 2024
Three Rivers Parc Limited
Statement of financial position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
179,601
198,282
Current assets
Debtors
6
4,170
Cash at bank and in hand
95,119
30,131
-------
-------
99,289
30,131
Creditors: Amounts falling due within one year
7
( 141,704)
( 53,863)
---------
-------
Net current liabilities
( 42,415)
( 23,732)
---------
---------
Total assets less current liabilities
137,186
174,550
Creditors: Amounts falling due after more than one year
8
( 30,714)
( 36,753)
Provisions
Taxation including deferred tax
( 9,876)
( 13,590)
---------
---------
Net assets
96,596
124,207
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
95,596
123,207
-------
---------
Shareholders funds
96,596
124,207
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Three Rivers Parc Limited
Statement of financial position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mrs J A Genn-Bromley
Director
Company registration number: 11142558
Three Rivers Parc Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Boat Shed, Station Road, Geldeston, Beccles, NR34 0HS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
5% on cost
Equipment
-
20% on cost
4. Employee numbers
The average number of employees during the year was 7 (2023: 6 ).
5. Tangible assets
Short leasehold property
Equipment
Total
£
£
£
Cost
At 1 February 2023
164,061
82,659
246,720
Additions
5,120
12,024
17,144
Disposals
( 26,497)
( 26,497)
---------
-------
---------
At 31 January 2024
169,181
68,186
237,367
---------
-------
---------
Depreciation
At 1 February 2023
22,129
26,309
48,438
Charge for the year
8,282
12,702
20,984
Disposals
( 11,656)
( 11,656)
---------
-------
---------
At 31 January 2024
30,411
27,355
57,766
---------
-------
---------
Carrying amount
At 31 January 2024
138,770
40,831
179,601
---------
-------
---------
At 31 January 2023
141,932
56,350
198,282
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
2,099
Other debtors
2,071
------
----
4,170
------
----
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,540
6,740
Trade creditors
15,940
10,556
Social security and other taxes
23,242
10,808
Other creditors
95,982
25,759
---------
-------
141,704
53,863
---------
-------
The bank loan is secured by a fixed and floating charge over the company's property. The charge was created in 2018.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,714
36,753
-------
-------
The bank loan is secured by a fixed and floating charge over the company's property. The charge was created in 2018.