Company registration number 12783413 (England and Wales)
FAIRGROUND HERITAGE TRADING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
FAIRGROUND HERITAGE TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
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The directors present their annual report and financial statements for the year ended 31 March 2024.
Principal activities
Welcome to the Fairground Heritage Trading (FHTL) company report for 2023/24.
The Fairground Heritage Trust, the charity that owns the share capital of FHTL retains the objectives of preserving the British fairground through the preservation of fairground art and a collection of fairground rides. The operating company; FHTL runs the commercial operations of the Fairground Heritage Trust primarily through Dingles Fairground Museum.
FHTL was created in 2021 to run Dingles Fairground Museum, and all commercial operations, on behalf of the Fairground Heritage Trust.
The accounts have a few items that are worth clarifying:
1.The Fairground Heritage Trust, made a loan of £43,874 to FHTL and this remains as a creditor with interest paid.
2.The site occupied by the Museum attracts an annual rent of which the FHTL funds 75%. The remainder being funded by the Fairground Heritage Trust for storage of the Trust’s collection
3.The Fairground Heritage Trust provided funding some of the operational expenses incurred by Dingles Fairground Museum in its first quarter of operation in 2022 and therefore these accounts represent the first full year of operation of Dingles Fairground Museum.
The customer offering and the operation of Dingles Fairground Museum was further enhanced this year with operating sessions now running a maximum of 2 x sessions per day with customers encouraged to view the art works, use the operating rides and use the vintage arcade. We have also provided a kiosk for catering and refreshments. The implementation of these changes has seen FHTL able to control its main operating expense; the diesel generators, so that these are now run once per session as opposed to running throughout the day. Other benefits have seen the staff having more regular hours without the need for double-shifts or working for more than five consecutive days.
Other changes implemented by FHTL has seen an investment in a new point-of-sale (Epos) system.
In terms of organisation, FHTL remains with directors drawn from the Fairground Heritage Trust. With the day-to-day operation of the FHTL controlled by an independent management team, led by Mr Thomas Rowland and Ms Sue Perry with a full team of staff and with support from a great team of volunteers.
The customer offering is very popular with a five-star rating from Trip-Advisor and regular exceptional reviews from customers.
Despite the operational progress, the efficiencies made and the positive reviews, trading remains difficult. The operating surplus, while an improvement on the previous year, is still disappointing and reflects the difficulty in providing a seasonal attraction in a rural area. For this reason, the Fairground Heritage Trust has decided that next year will be the last operating year of Dingles Fairground Museum and this report may document the last full year of operation of FHTL.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr A M Brown
Mr A S Reed
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
FAIRGROUND HERITAGE TRADING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
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On behalf of the board
Mr A M Brown
Mr A S Reed
Director
Director
9 November 2024
FAIRGROUND HERITAGE TRADING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
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2024
2023
£
£
Turnover
364,224
283,727
Other income
16,115
13,955
Cost of raw materials and consumables
(31,513)
(24,067)
Staff costs
(197,752)
(133,958)
Depreciation and other amounts written off assets
(1,041)
(444)
Other charges
(136,962)
(126,014)
Tax
(2,393)
(905)
Profit
10,678
12,294
FAIRGROUND HERITAGE TRADING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
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2024
2023
£
£
£
£
Fixed assets
6,857
6,383
Current assets
81,300
59,599
Creditors: amounts falling due within one year
(65,085)
(53,588)
Net current assets
16,215
6,011
Total assets less current liabilities
23,072
12,394
Net assets
23,072
12,394
Capital and reserves
23,072
12,394
Notes to the financial statements
1
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2024
2023
Number
Number
Employees
9
6
Fairground Heritage Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Milford Farm, Lifton, Devon, United Kingdom, PL16 0AT.
For the year ended 31 March 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 in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
FAIRGROUND HERITAGE TRADING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
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The financial statements were approved by the board of directors and authorised for issue on 9 November 2024 and are signed on its behalf by:
Mr A M Brown
Mr A S Reed
Director
Director
Company registration number 12783413 (England and Wales)