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REGISTERED NUMBER: 01363890 (England and Wales)









HOLYWELL BAY FUN PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






HOLYWELL BAY FUN PARK LIMITED (REGISTERED NUMBER: 01363890)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOLYWELL BAY FUN PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R P M Hartley
R D T Hartley





SECRETARY: R P M Hartley





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: 01363890 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

HOLYWELL BAY FUN PARK LIMITED (REGISTERED NUMBER: 01363890)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 373,657 394,556
373,657 394,556

CURRENT ASSETS
Stocks 1,617 3,442
Debtors 7 1,235,564 1,298,962
Cash at bank and in hand 554,488 401,402
1,791,669 1,703,806
CREDITORS
Amounts falling due within one year 8 203,962 202,574
NET CURRENT ASSETS 1,587,707 1,501,232
TOTAL ASSETS LESS CURRENT LIABILITIES 1,961,364 1,895,788

PROVISIONS FOR LIABILITIES 6,000 11,000
NET ASSETS 1,955,364 1,884,788

CAPITAL AND RESERVES
Called up share capital 1,999 1,999
Share premium 799,001 799,001
Retained earnings 1,154,364 1,083,788
SHAREHOLDERS' FUNDS 1,955,364 1,884,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 28 November 2024 and were signed on its behalf by:




R P M Hartley - Director


HOLYWELL BAY FUN PARK LIMITED (REGISTERED NUMBER: 01363890)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Holywell Bay Fun Park 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. 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 also represented by green fees from the golf course and sales of food and drink in the restaurant, excluding value added tax. Turnover is recognised on the day the goods or services are provided.

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.

Improvements to property - Straight line over 20 years
Plant and machinery - Straight line over 5 years

No depreciation is charged on Freehold Property as this consists solely of land. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Stocks
Stock represents food and drink stock held at the year end that are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock.


HOLYWELL BAY FUN PARK LIMITED (REGISTERED NUMBER: 01363890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 403,246
AMORTISATION
At 1 March 2023
and 29 February 2024 403,246
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

HOLYWELL BAY FUN PARK LIMITED (REGISTERED NUMBER: 01363890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. TANGIBLE FIXED ASSETS
Improvement
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 March 2023 301,444 214,461 62,169
Additions - - -
At 29 February 2024 301,444 214,461 62,169
DEPRECIATION
At 1 March 2023 - 214,461 12,433
Charge for year - - 3,108
At 29 February 2024 - 214,461 15,541
NET BOOK VALUE
At 29 February 2024 301,444 - 46,628
At 28 February 2023 301,444 - 49,736

Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 434,597 12,445 1,025,116
Additions 1,803 - 1,803
At 29 February 2024 436,400 12,445 1,026,919
DEPRECIATION
At 1 March 2023 391,221 12,445 630,560
Charge for year 19,594 - 22,702
At 29 February 2024 410,815 12,445 653,262
NET BOOK VALUE
At 29 February 2024 25,585 - 373,657
At 28 February 2023 43,376 - 394,556

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 178 -
Other debtors 1,235,386 1,298,962
1,235,564 1,298,962

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,637 8,408
Taxation and social security 136,319 122,059
Other creditors 63,006 72,107
203,962 202,574