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REGISTERED NUMBER: 09509212 (England and Wales)










Llandudno Pier Limited

Financial Statements

for the Year Ended 29 February 2024






Llandudno Pier Limited (Registered number: 09509212)






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


Llandudno Pier Limited

Company Information
for the year ended 29 February 2024







DIRECTOR: Mr A J Williams





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 09509212 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Llandudno Pier Limited (Registered number: 09509212)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,648,070 6,799,444

CURRENT ASSETS
Cash at bank 89 3

CREDITORS
Amounts falling due within one year 5 3,031,247 3,177,206
NET CURRENT LIABILITIES (3,031,158 ) (3,177,203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,616,912

3,622,241

CREDITORS
Amounts falling due after more than one
year

6

3,839,804

3,654,920
NET LIABILITIES (222,892 ) (32,679 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (222,893 ) (32,680 )
(222,892 ) (32,679 )

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 director and authorised for issue on 28 November 2024 and were signed by:





Mr A J Williams - Director


Llandudno Pier Limited (Registered number: 09509212)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Llandudno Pier 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company's ultimate parent undertaking, Tir Prince Raceway Limited, includes the company in its consolidated financial statements. In these financial statements, the company is considered to be a qualifying entity (for the purpose of FRS) and has applied the exemptions available under FRS 102 in respect of the Cash Flow Statements and related notes.

As at the balance sheet date, the company had net liabilities. The group will continue to support the company.

These financial statements have been prepared on a going concern basis.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost

Freehold property is held at cost and reviewed annually for impairment.

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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Llandudno Pier Limited (Registered number: 09509212)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 March 2023
and 29 February 2024 7,568,704
DEPRECIATION
At 1 March 2023 769,260
Charge for year 151,374
At 29 February 2024 920,634
NET BOOK VALUE
At 29 February 2024 6,648,070
At 28 February 2023 6,799,444

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 7) - 484,152
Trade creditors 50 -
Amounts owed to group undertakings 2,826,471 2,492,601
Taxation and social security 47,406 45,053
Other creditors 157,320 155,400
3,031,247 3,177,206

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 7) 3,839,804 3,654,920

7. LOANS

The company's long term loan facility is being amortised over the full period of the loan.

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,839,804 4,139,072

The bank loans are secured by fixed and floating charges over the assets of the company.

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

The Report of the Auditors was unqualified.

Aled Roberts FCA (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited

10. CONTINGENT LIABILITIES

There exists a cross guarantee and debenture between Llandudno Pier Limited and Tir Prince Raceway Limited, the company's parent company, and Llandudno Pier Trading Limited, a company under common control.

Llandudno Pier Limited (Registered number: 09509212)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

11. COMMITMENTS UNDER OPERATING LEASES

The company has no commitments under the non-cancellable operating leases at the balance sheet date.

12. RELATED PARTY DISCLOSURES

During the year the director received total remuneration totalling £1,200 (2023: £1,200).

At the year end directors loan account were in credit of £157,320 (2023: £155,400).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A J Williams.