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REGISTERED NUMBER: 01382621 (England and Wales)















SEASIDE LEISURE PARKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


SEASIDE LEISURE PARKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: A R C Pritchard



REGISTERED OFFICE: 27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



REGISTERED NUMBER: 01382621 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Barclays Bank PLC
65 Lumley Road
Skegness
Lincolnshire
PE25 3LU

SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 120,000
Tangible assets 5 18,189,183 15,493,311
Investments 6 304,500 304,500
Investment property 7 200,523 -
18,774,206 15,917,811

CURRENT ASSETS
Stocks 1,199,373 1,436,930
Debtors 8 8,149,528 7,623,658
Cash at bank and in hand 2,913,737 4,236,505
12,262,638 13,297,093
CREDITORS
Amounts falling due within one year 9 3,865,486 3,281,839
NET CURRENT ASSETS 8,397,152 10,015,254
TOTAL ASSETS LESS CURRENT LIABILITIES 27,171,358 25,933,065

CREDITORS
Amounts falling due after more than one year 10 (2,890,000 ) (3,166,666 )

PROVISIONS FOR LIABILITIES (329,227 ) (279,853 )
NET ASSETS 23,952,131 22,486,546

CAPITAL AND RESERVES
Called up share capital 835,002 835,002
Retained earnings 23,117,129 21,651,544
23,952,131 22,486,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 3 February 2025 and were signed by:





A R C Pritchard - Director


SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Seaside Leisure Parks 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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 - 10% on cost, 2% on cost and Nil
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.


SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 500,000
AMORTISATION
At 1 December 2023 380,000
Charge for year 40,000
At 30 November 2024 420,000
NET BOOK VALUE
At 30 November 2024 80,000
At 30 November 2023 120,000

SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 16,069,256 1,181,566 17,250,822
Additions 2,501,852 500,749 3,002,601
Disposals - (85,606 ) (85,606 )
At 30 November 2024 18,571,108 1,596,709 20,167,817
DEPRECIATION
At 1 December 2023 1,132,296 625,215 1,757,511
Charge for year 138,516 132,042 270,558
Eliminated on disposal - (49,435 ) (49,435 )
At 30 November 2024 1,270,812 707,822 1,978,634
NET BOOK VALUE
At 30 November 2024 17,300,296 888,887 18,189,183
At 30 November 2023 14,936,960 556,351 15,493,311

Included in cost of land and buildings is freehold land of £ 11,552,090 (2023 - £ 9,245,665 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023
and 30 November 2024 304,500
NET BOOK VALUE
At 30 November 2024 304,500
At 30 November 2023 304,500

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 200,523
At 30 November 2024 200,523
NET BOOK VALUE
At 30 November 2024 200,523

The properties are included in the financial statements at market value as valued by the director.

SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

8. DEBTORS
30.11.24 30.11.23
£    £   
Amounts falling due within one year:
Trade debtors 911,220 1,044,173
Amounts receivable in respect of hire purchase
contracts

322,851

295,791
Other debtors 868,251 760,493
2,102,322 2,100,457

Amounts falling due after more than one year:
Amounts receivable in respect of hire purchase
contracts

656,484

633,880
Other debtors 5,390,722 4,889,321
6,047,206 5,523,201

Aggregate amounts 8,149,528 7,623,658

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 340,000 333,333
Trade creditors 531,892 187,794
Taxation and social security 703,610 680,457
Other creditors 2,289,984 2,080,255
3,865,486 3,281,839

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 2,890,000 3,166,666

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,530,000 1,833,333

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.24 30.11.23
£    £   
Within one year 36,257 36,257
Between one and five years 60,429 96,687
96,686 132,944

SEASIDE LEISURE PARKS LIMITED (REGISTERED NUMBER: 01382621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 3,230,000 3,499,999

The bank loan is secured on the company's freehold property.

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
A R C Pritchard
Balance outstanding at start of year (603,623 ) (604,885 )
Amounts advanced 4,780 67,875
Amounts repaid (7,394 ) (66,613 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (606,237 ) (603,623 )