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REGISTERED NUMBER: 06638727 (England and Wales)















LLB PARKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LLB PARKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr L T Burdon
Mrs L L Burdon





SECRETARY: Mr L T Burdon





REGISTERED OFFICE: Ashlea Pools Country Park
Hopton Heath
Craven Arms
Shropshire
SY7 0QD





REGISTERED NUMBER: 06638727 (England and Wales)





ACCOUNTANTS: TCA (Shrewsbury) LLP
Third Floor
21 St Mary's Street
Shrewsbury
Shropshire
SY1 1ED

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,819,517 2,774,162
2,819,517 2,774,162

CURRENT ASSETS
Stocks 35,000 30,000
Debtors 6 373,669 120,615
Cash at bank 49,418 95,280
458,087 245,895
CREDITORS
Amounts falling due within one year 7 265,466 218,299
NET CURRENT ASSETS 192,621 27,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,012,138

2,801,758

CREDITORS
Amounts falling due after more than one
year

8

(1,065,937

)

(1,049,132

)

PROVISIONS FOR LIABILITIES (262,294 ) (269,012 )
NET ASSETS 1,683,907 1,483,614

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 601,887 629,474
Retained earnings 1,081,920 854,040
SHAREHOLDERS' FUNDS 1,683,907 1,483,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mr L T Burdon - Director


LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

LLB 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.

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 as modified by the revaluation of certain assets.

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

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the company; and

- the costs incurred or to be incurred in respect of the transition can be measured reliably.

Specifically, revenue from the sale of goods is recognised when the goods are delivered and legal title has passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2008, was originally amortised over its estimated useful life of twenty years and now, having been reassessed in 2017, its remaining useful life has been reduced to 5 years.

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Freehold property- 2% on cost
Improvements to property- 10% on cost
Plant and machinery- 10% on reducing balance
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance
Equipment- 33% on cost
Land- nil depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Revaluation of tangible fixed assets

On transition to FRS 102, the company adopted the exemption to include the fair value of the freehold property as deemed cost. This results in no further formal revaluations being required. The uplift from historic cost to fair value (deemed cost) has been shown in a revaluation reserve on the balance sheet for clarity as a non distributable reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 statement of financial position date.


LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capitalelement of the future payments is treated as a liability.

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 profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Interest income
Interest income is recognised in the Profit and loss account using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 27 ) .

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 469,126
AMORTISATION
At 1 August 2023
and 31 July 2024 469,126
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 August 2023 3,077,967 16,999 48,681
Additions 150,000 - 51,230
Disposals (63,000 ) - -
At 31 July 2024 3,164,967 16,999 99,911
DEPRECIATION
At 1 August 2023 540,550 6,800 32,564
Charge for year 60,738 1,700 6,735
Eliminated on disposal (9,180 ) - -
At 31 July 2024 592,108 8,500 39,299
NET BOOK VALUE
At 31 July 2024 2,572,859 8,499 60,612
At 31 July 2023 2,537,417 10,199 16,117

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2023 254,684 124,879 3,885 3,527,095
Additions - 2,280 - 203,510
Disposals - (36,016 ) - (99,016 )
At 31 July 2024 254,684 91,143 3,885 3,631,589
DEPRECIATION
At 1 August 2023 91,843 77,291 3,885 752,933
Charge for year 16,284 10,331 - 95,788
Eliminated on disposal - (27,469 ) - (36,649 )
At 31 July 2024 108,127 60,153 3,885 812,072
NET BOOK VALUE
At 31 July 2024 146,557 30,990 - 2,819,517
At 31 July 2023 162,841 47,588 - 2,774,162

Included in cost or valuation of land and buildings is freehold land of £ 202,078 (2023 - £ 202,078 ) which is not depreciated.

The freehold property was revalued on 31 July 2016. This fair valuation was included as the deemed cost.

If the land and buildings had not been included at cost valuation they would have been included under the historical cost convention as fallows:

2024 2023
£ £
Cost2,185,8042,078,804
Depreciation415,458380,683
Net book value1,770,3461,698,121

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 5,840 10,023
Other debtors 48,867 48,867
Prepayments and accrued income 78,962 61,725
133,669 120,615

Amounts falling due after more than one year:
LLB Property Investments 240,000 -

Aggregate amounts 373,669 120,615

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,331 46,902
Allica Finance 5,461 5,001
Trade creditors 18,205 2,017
Tax 28,927 19,082
Social security and other taxes 4,180 3,828
VAT 78,504 59,979
Other creditors 56,165 55,923
Accruals and deferred income 23,693 25,567
265,466 218,299

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 198,173 182,600
Bounce back loan up to 5 years 9,876 19,999
Bank loans more 5 yr by instal 680,088 735,855
Allica Finance 19,243 24,999
Directors' loan accounts 158,557 85,679
1,065,937 1,049,132

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 680,088 735,855

9. FINANCIAL INSTRUMENTS

2024 2023
£ £
Financial assets
Financial assets measured at fair value through profit or loss 49,418 95,280
Financial assets that are debt instruments measured at amortised
cost

373,669

120,615
423,087 215,895

Financial liabilities
Financial liabilities measured at amortised cost 1,219,792 1,184,542
1,219,792 1,184,542

Financial assets measured at fair value through profit or loss comprise the cash at bank.
Financial assets measured at amortised cost comprise trade debtors and other debtors.

Financial liabilities measured at amortised cost comprise trade and other creditors and accruals.

LLB PARKS LIMITED (REGISTERED NUMBER: 06638727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

10. RESERVES

Revaluation reserve

The revaluation reserve represents the increase in the valuation of the freehold property in excess of historical costs. A deferred tax provision has been included and offset against the revaluation. The additional depreciation resulting from the revaluation has also been debited to the revaluation reserve. This reserve is not available for distribution.

Profit & loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders. This is available for distribution.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans918,466955,351

Bank loans are secured over the freehold property and personally guaranteed by the directors.

The amounts due under the hire purchase agreements are secured against the assets to which they relate.

12. RELATED PARTY DISCLOSURE

Included within debtors due after more than one year is £240,000 (2023: £nil) owing from LLB Property Investments Limited, a company owned and controlled by Mr L T Burdon and Mrs L L Burdon, directors. This loan is interest free and the balance outstanding at the financial year end represents the highest amount outstanding during the year.

Included within other debtors due within one year is £48,867 (2023: £48,867) owing from Locks Leisure Limited, a company owned and controlled by Mr L T Burdon, director. This loan is interest free and the balance outstanding at the financial year end represents the highest amount outstanding during the year.

Included within other creditors due within one year is £55,073 (2023: £55,073) owing to LLB Leisure Limited, a company owned and controlled by Mr L T Burdon and Mrs L L Burdon, directors. This loan is interest free and the balance outstanding at the financial year end represents the highest amount outstanding during the year.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr L T Burdon and Mrs L L Burdon.

14. LEASING ARRANGEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£ £
Within one year 6,255 -
Between one and five years 25,022 -
More than five years 6,874 -
38,151 -