Parc Le Breos Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14521408

Parc Le Breos Limited

Filleted Unaudited Financial Statements

31 December 2024

Parc Le Breos Limited

Financial Statements

Year ended 31 December 2024

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Parc Le Breos Limited

Officers and Professional Advisers

The board of directors	Mr K Edwards
	Mr G Edwards

Registered office	Parc Le Breos House
	Penmaen
	Swansea
	United Kingdom
	SA3 2HA

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Parc Le Breos Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

FIXED ASSETS

Tangible assets	5	197,564	155,005

CURRENT ASSETS

Stocks	6	2,000	2,000
Debtors	7	766,541	675,369
Cash at bank and in hand		168,121	338,583
		---------	------------
		936,662	1,015,952

CREDITORS: amounts falling due within one year	8	1,045,779	1,076,271
		------------	------------
NET CURRENT LIABILITIES		109,117	60,319
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		88,447	94,686

PROVISIONS	49,391	38,751
	--------	--------
NET ASSETS	39,056	55,935
	--------	--------

CAPITAL AND RESERVES

Called up share capital	9	4	4
Profit and loss account		39,052	55,931
		--------	--------
SHAREHOLDERS FUNDS		39,056	55,935
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Parc Le Breos Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 August 2025 , and are signed on behalf of the board by:

Kerry Edwards

Director

Company registration number: 14521408

Parc Le Breos Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. GENERAL INFORMATION

Parc Le Breos Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is the operation of a wedding venue with related accommodation and hospitality services.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements is 12 months and its comparative period is 13 months. These financial statements only include the results of the individual entity made up to 31 December 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable

Going concern

The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets, for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience, for the net carrying amount of the debtors and associated impairment provision.

(iii) Stock Provisioning

When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.

(iv) Provisions

Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes.

(v) Going Concern

The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover is recognised on the hotels primary operations when rooms are occupied and when food and beverages are sold. Interest receivable Interest income is recognised using the effective interest method.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

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.

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery	-	10% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 45 (2023: 45 ).

5. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	108,063	55,389	2,304	165,756
Additions	63,000	–	–	63,000
	---------	--------	------	---------
At 31 December 2024	171,063	55,389	2,304	228,756
	---------	--------	------	---------
Depreciation
At 1 January 2024	6,106	4,282	363	10,751
Charge for the year	14,921	5,132	388	20,441
	---------	--------	------	---------
At 31 December 2024	21,027	9,414	751	31,192
	---------	--------	------	---------
Carrying amount
At 31 December 2024	150,036	45,975	1,553	197,564
	---------	--------	------	---------
At 31 December 2023	101,957	51,107	1,941	155,005
	---------	--------	------	---------

6. STOCKS

	2024	2023
	£	£
Raw materials and consumables	2,000	2,000
	------	------

7. DEBTORS

	2024	2023
	£	£
Trade debtors	17,122	1,166
Amounts owed by group undertakings and undertakings in which the company has a participating interest	733,242	665,973
Other debtors	16,177	8,230
	---------	---------
	766,541	675,369
	---------	---------

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	36,176	23,562
Amounts owed to group undertakings and undertakings in which the company has a participating interest	294,582	294,582
Corporation tax	489	8,042
Social security and other taxes	34,616	33,536
Other creditors	679,916	716,549
	------------	------------
	1,045,779	1,076,271
	------------	------------

9. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----

10. RELATED PARTY TRANSACTIONS

Key Management Personnel of the entity or its parent

	2024	2023
	£	£
Balance due (to)/from key management personnel	(366,701)	(368,634)

No interest has been incurred in relation to this balance. Entities with control, joint control or significant influence over the entity Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.

11. PARENT UNDERTAKINGS

The ultimate parent company is Parc Le Breos Holdings Limited, a company registered in Great Britain. The registered office of Parc Le Breos Holdings Limited is Parc Le Breos House Parkmill, Penmaen, Swansea, Wales, SA3 2HA