Company registration number 01413435 (England and Wales)
BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
BALANCE SHEET
AS AT 24 MARCH 2024
24 March 2024
- 1 -
24 March 2024
26 March 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
18,533
8,766
Tangible assets
4
91,080
66,050
Investments
5
105,405
105,405
215,018
180,221
Current assets
Stocks
157,954
121,047
Debtors
6
130,093
110,991
288,047
232,038
Creditors: amounts falling due within one year
7
(1,115,160)
(896,304)
Net current liabilities
(827,113)
(664,266)
Total assets less current liabilities
(612,095)
(484,045)
Provisions for liabilities
(15,584)
(7,242)
Net liabilities
(627,679)
(491,287)
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss reserves
(677,679)
(541,287)
Total equity
(627,679)
(491,287)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 24 March 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary 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 period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 24 MARCH 2024
24 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
J Gray
Director
Company registration number 01413435 (England and Wales)
BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 MARCH 2024
- 3 -
1
Accounting policies
Company information

Blackpool Leisure and Amusement Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pleasure Beach, Ocean Boulevard, Promenade, Blackpool, FY4 1EZ.

1.1
Reporting period

The current reporting period relates to the 52 week period ending 24 March 2024. The comparative reporting period relates to the 53 week period ending 26 March 2023.

1.2
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.

1.3
Going concern

The company is party to cross guarantees securing all bank and local government debts of the group to which the company belongs, as disclosed in note 23 to the financial statements. The group meets its day to day working capital requirements through a short term loan and an overdraft. In addition the group is funded through longer term bank and local government loans. true

 

The directors have prepared detailed forecasts including cash flow projections which indicate that the group and the company will have sufficient funds to meet its liabilities as they fall due for the foreseeable future. In preparing their forecasts the directors have had to make key assumptions and there are therefore uncertainties. The key assumptions include visitor numbers for 2025/26 increasing by 2% over 2024/25 numbers, bank and loan facilities remaining in place and the cost saving plan approved by the directors being successfully implemented. The directors are confident that the assumptions made are modest and achievable.

 

Based on the forecasts, the directors expect that the company and group will meet its obligations in respect of loan repayments and interest payments but certain financial covenants attached to the revolving credit facility will not be met. Notwithstanding this, the company and group’s most recent forecasts present a more favourable position than was presented to the bank during the most recent refinancing in December 2024.

 

The directors are in regular communication with the bank and expect that the revolving credit facility will remain in place for the foreseeable future and the short term facilities will be renewed as required during the latter part of 2025.

 

If trading were to fall short of the forecasts to the extent that a shortfall in funding would result, then the directors believe asset realisations or additional cost savings are achievable that would enable the group and the company to continue to operate.

 

After making enquiries and considering the uncertainties described above the directors confidently expect the group will have adequate resources to continue trading for the foreseeable future. It is therefore appropriate to prepare the financial statements of the company on a going concern basis.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Turnover

Turnover represents the amount derived from show operations which fall within the company's ordinary activities, stated net of value added tax. Turnover is recognised on the date of the provision of services at which point risk and rewards have passed to the customer. Pre-booked ticket revenue is deferred at the year-end.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Music rights
5 years
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line

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.

1.7
Fixed asset investments

Investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are valued at the lower of cost and net realisable value. Cost of stock includes stage works and props and is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated resale prices.

1.10
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
18
14
3
Intangible fixed assets
Music rights
£
Cost
At 27 March 2023
66,466
Additions
11,534
At 24 March 2024
78,000
Amortisation and impairment
At 27 March 2023
57,700
Amortisation charged for the period
1,767
At 24 March 2024
59,467
Carrying amount
At 24 March 2024
18,533
At 26 March 2023
8,766
BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
- 8 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 27 March 2023
763,674
Additions
50,589
At 24 March 2024
814,263
Depreciation and impairment
At 27 March 2023
697,624
Depreciation charged in the period
25,559
At 24 March 2024
723,183
Carrying amount
At 24 March 2024
91,080
At 26 March 2023
66,050
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
105,405
105,405

The investment relates to 1.1% of the founder member deposits of South Shore Mutual Insurance Company Limited, a provider of insurance services to the group.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
130,093
110,991

All amounts fall due for payment within one year. Amounts owed by group undertakings are interest free and repayable on demand.

BLACKPOOL LEISURE AND AMUSEMENT CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 MARCH 2024
- 9 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,066,088
856,960
Other creditors
49,072
39,344
1,115,160
896,304

Amounts owed to group undertakings are interest free and repayable on demand.

8
Financial commitments, guarantees and contingent liabilities

The outstanding liabilities at the balance sheet date of the company has been guaranteed by the parent company Blackpool Pleasure Beach (Holdings) Limited, pursuant to s479A and s479C of the Companies Act 2006.

 

The company is party to a composite cross company guarantee in favour of the group's facility providers. The total bank and governmental body borrowings outstanding at the year end, under group guarantees were £19.6m (2023: £16.5m).

 

The following fellow subsidiary undertakings and parent company were party to the cross guarantee:

 

 

The following related undertakings was party to the cross guarantee:

 

9
Related party transactions

The directors have chosen not to disclose transactions entered into with other companies wholly owned within the group, as permitted under FRS102 paragraph 33.1A.

10
Parent company

The company's parent company is Blackpool Pleasure Beach (Holdings) Limited, a company registered in England and Wales with registered office at Pleasure Beach, Ocean Boulevard, Promenade, Blackpool, FY4 1EZ.

 

The smallest and largest group in which the results of the company are consolidated is that headed by Blackpool Pleasure Beach (Holdings) Limited. Copies of the consolidated financial statements of Blackpool Pleasure Beach (Holdings) Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

 

The ultimate controlling parties are members of the Thompson family acting in concert.

2024-03-242023-03-27falsefalsefalse21 March 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activityMrs F C GiljeMr J GrayMr N P KilagallonMiss A J ThompsonMs A J RobinsonMr S P HodkinsonMr M HoldenFor the financial year ended 24 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 014134352023-03-272024-03-24014134352024-03-24014134352023-03-2601413435core:IntangibleAssetsOtherThanGoodwill2024-03-2401413435core:IntangibleAssetsOtherThanGoodwill2023-03-2601413435core:OtherPropertyPlantEquipment2024-03-2401413435core:OtherPropertyPlantEquipment2023-03-2601413435core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-2401413435core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-2601413435core:CurrentFinancialInstruments2024-03-2401413435core:CurrentFinancialInstruments2023-03-2601413435core:ShareCapital2024-03-2401413435core:ShareCapital2023-03-2601413435core:RetainedEarningsAccumulatedLosses2024-03-2401413435core:RetainedEarningsAccumulatedLosses2023-03-2601413435bus:Director22023-03-272024-03-2401413435core:IntangibleAssetsOtherThanGoodwill2023-03-272024-03-2401413435core:PatentsTrademarksLicencesConcessionsSimilar2023-03-272024-03-2401413435core:PlantMachinery2023-03-272024-03-24014134352022-03-202023-03-2601413435core:IntangibleAssetsOtherThanGoodwill2023-03-2601413435core:OtherPropertyPlantEquipment2023-03-2601413435core:OtherPropertyPlantEquipment2023-03-272024-03-2401413435bus:PrivateLimitedCompanyLtd2023-03-272024-03-2401413435bus:SmallCompaniesRegimeForAccounts2023-03-272024-03-2401413435bus:FRS1022023-03-272024-03-2401413435bus:AuditExempt-NoAccountantsReport2023-03-272024-03-2401413435bus:Director12023-03-272024-03-2401413435bus:Director32023-03-272024-03-2401413435bus:Director42023-03-272024-03-2401413435bus:Director52023-03-272024-03-2401413435bus:Director62023-03-272024-03-2401413435bus:Director72023-03-272024-03-2401413435bus:FullAccounts2023-03-272024-03-24xbrli:purexbrli:sharesiso4217:GBP