Company registration number 07448161 (England and Wales)
PARK VALLEY LEISURE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PARK VALLEY LEISURE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PARK VALLEY LEISURE LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
139,151
139,151
Current assets
Debtors
4
100
100
Cash at bank and in hand
130
127
230
227
Creditors: amounts falling due within one year
5
(187,542)
(186,930)
Net current liabilities
(187,312)
(186,703)
Net liabilities
(48,161)
(47,552)
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss reserves
(98,161)
(97,552)
Total equity
(48,161)
(47,552)
For the financial year ended 22 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared 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
The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
Mr J Bennett
Mrs S Bennett
Director
Director
Company registration number 07448161 (England and Wales)
PARK VALLEY LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 MAY 2024
- 2 -
1
Accounting policies
Company information
Park Valley Leisure Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Victoria House, 14 New Road Avenue, Chatham, Kent, ME4 6BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
None
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
PARK VALLEY LEISURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MAY 2024
- 3 -
2
Employees
2024
2023
Number
Number
Total
3
Tangible fixed assets
Land and buildings
£
Cost
At 23 May 2023 and 22 May 2024
139,151
Depreciation and impairment
At 23 May 2023 and 22 May 2024
Carrying amount
At 22 May 2024
139,151
At 22 May 2023
139,151
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
100
100
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
187,542
186,930