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Company No: 14552915 (England and Wales)

SUFFOLK LEISURE PARK ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SUFFOLK LEISURE PARK ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SUFFOLK LEISURE PARK ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
SUFFOLK LEISURE PARK ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 798,142 798,142
798,142 798,142
Current assets
Debtors 4 11,567 4,195
Cash at bank and in hand 4,720 1,295
16,287 5,490
Creditors: amounts falling due within one year 5 ( 3,727) ( 2,628)
Net current assets 12,560 2,862
Total assets less current liabilities 810,702 801,004
Creditors: amounts falling due after more than one year 6 ( 795,000) ( 795,000)
Net assets 15,702 6,004
Capital and reserves
Called-up share capital 10,500 10,500
Profit and loss account 5,202 ( 4,496 )
Total shareholders' funds 15,702 6,004

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Suffolk Leisure Park Estates Limited (registered number: 14552915) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Trinder
Director

17 April 2025

SUFFOLK LEISURE PARK ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SUFFOLK LEISURE PARK ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Suffolk Leisure Park Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suffolk Ski Centre Bourne Hill, Wherstead, Ipswich, IP2 8NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company's previous financial statements were prepared from incorporation on 21 December 2022 to 30 September 2023. The financial statements are therefore not entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 798,142
As at 30 September 2024 798,142

4. Debtors

2024 2023
£ £
Prepayments and accrued income 10,788 1,250
VAT recoverable 779 2,945
11,567 4,195

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,128
Accruals 1,601 1,500
Corporation tax 2,126 0
3,727 2,628

There are no amounts included above in respect of which any security has been given by the company.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to director 265,000 265,000
Other loans 530,000 530,000
795,000 795,000

Loans totalling £795,000 relate to loans obtained for the purchase of land. No interest will be charged based on the respective loan agreements with the principal amounts being repaid when the loans mature.

The loans will be deemed to mature and therefore be repayable in full upon the sale of the land.