Registered number: 09656034
TALLINGTON LAKES SALES LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024
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TALLINGTON LAKES SALES LTD
CONTENTS
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Statement of financial position
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Notes to the financial statements
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TALLINGTON LAKES SALES LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TALLINGTON LAKES SALES LTD
FOR THE YEAR ENDED 30 JUNE 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tallington Lakes Sales Ltd for the Year ended 30 June 2024 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.
This report is made solely to the Director of Tallington Lakes Sales Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tallington Lakes Sales Limited and state those matters that we have agreed to state to the Director of Tallington Lakes Sales Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tallington Lakes Sales Limited and its Director for our work or for this report.
It is your duty to ensure that Tallington Lakes Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position, and profit of Tallington Lakes Sales Limited. You consider that Tallington Lakes Sales Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Tallington Lakes Sales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Xeinadin London Limited
Accountants
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
16 June 2025
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TALLINGTON LAKES SALES LTD
REGISTERED NUMBER: 09656034
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Debtors: amounts falling due within one year
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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TALLINGTON LAKES SALES LTD
REGISTERED NUMBER: 09656034
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 8 form part of these financial statements.
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TALLINGTON LAKES SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Tallington Lakes Sales Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Barholm Road, Tallington, Stamford, Lincolnshire, PE9 4RJ.
The nature of the Company's operations and principal activities continued to be the provision of amusement and recreational activities.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Tthe directors have confirmed their financial support will be provided for the foreseeable future as and when required for the business. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover comprimises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the Year in which they are incurred.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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TALLINGTON LAKES SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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.
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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TALLINGTON LAKES SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the Year was 1 (2023 - 1).
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Charge for the Year on owned assets
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Amounts owed by group undertakings
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TALLINGTON LAKES SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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The loan was repaid during the year.
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TALLINGTON LAKES SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Related party transactions
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Other than the transaction detailed above, the Company has taken advantage of the exemption available under FRS 102 section 33.1A where disclosures of transactions between group members are not required, provided that the subsidiary is wholly owned.
As at the year end, the Company were owed £1,788,962 (2023: £1,788,962) by Tallington Lakes Land Limited, a company under common control.
As at the year end, the Company were owed £690,427 (2023: £690,427) by Tallington Lakes Activities Limited, a company under common control.
As at the year end, the Company were owed £2,336,669 (2023: £2,336,669) by Tallington Lakes Site Limited, a company under common control.
As at the year end, the Company owed £6,246,678 (2023: £6,246,678) to Tallington Holdings Limited, the parent company of Tallington Lakes Sales Limited.
As at the year end, the Company owed £705,693 (2023: £705,693) to Tallington Lakes Limited, a company under common control.
As at the year end, the Company owed £53,898 (2023: £53,898) to Leisure Site Limited, a company under common control
As at the year end, the Company owed £1,294,474 (2023: £129,052 were owed) to Venture Lodges Limited, a company under common control.
As at the year end, the Company owed £50,000 (2023: £50,000) to Tallington Lakes Restaurant & Bar Limited, a company under common control.
As at the year end, the Company owed £44,185 (2023: £Nil) to Activity Ventures Limited, a company under common control.
As at at the balance sheet date the amount due to Arcadia Estates. Limited, a company in which N Morgan has common control was owed £1,310,153
As at the year end, the Company owed £3,186 to N Morgan, a director in the company.
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The Company is controlled by Tallington Holdings Limited.
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