CASINO PALACE LTD

Company Registration Number:
NI050551 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

CASINO PALACE LTD

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

CASINO PALACE LTD

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 395,972 355,832
Total fixed assets: 395,972 355,832
Current assets
Debtors:     41,584
Cash at bank and in hand: 195,077 90,281
Total current assets: 195,077 131,865
Creditors: amounts falling due within one year:   (388,999) (333,893)
Net current assets (liabilities): (193,922) (202,028)
Total assets less current liabilities: 202,050 153,804
Provision for liabilities: (66,849) (31,914)
Total net assets (liabilities): 135,201 121,890
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 135,200 121,889
Shareholders funds: 135,201 121,890

The notes form part of these financial statements

CASINO PALACE LTD

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 January 2025
and signed on behalf of the board by:

Name: Hugh Boyle
Status: Director

The notes form part of these financial statements

CASINO PALACE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the total value of services supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: Long leasehold property - Not being depreciated Plant and machinery - 20% Reducing Balance Fixtures, fittings and equipment - 15% Reducing Balance The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Other accounting policies

Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. Taxation and deferred taxation Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

CASINO PALACE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 8 8

CASINO PALACE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible Assets

Total
Cost £
At 01 May 2023 726,208
Additions 95,105
At 30 April 2024 821,313
Depreciation
At 01 May 2023 370,376
Charge for year 54,965
At 30 April 2024 425,341
Net book value
At 30 April 2024 395,972
At 30 April 2023 355,832

CASINO PALACE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Financial commitments

PENSION COMMITMENTS The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, there was an outstanding liability of £1,494 (2023: 1,000 ) due to the fund. This is included in creditors amounts falling due within one year.