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

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Sines Parks Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the company's net liabilities wastrue £5,167,975 (2023: £3,369,354).

The directors consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.

If the company was unable to continue to obtain sufficient funding to enable it to pay its debts as they fell due, it would be unable to continue trading and adjustments would have to be made reduce the value of assets to their realisable amount, to provide for any further liabilities which might arise.

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Interests in subsidiaries are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets which include debtors, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The company provides pension benefits for senior employees. Under the terms of the pension contracts entered into with the senior employees, fixed sums are provided for now in order to provide pension benefits to the individuals upon their retirement. The pension contracts allow for an annual increase in respect of indexation over and above the initial contracted amount.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors consider that it does not bear any of the hallmarks of a defined benefit scheme as the company’s contributions are fixed until the point of retirement at which point any further contributions of annual increases cease. Further information can be found in note 8 to the financial statements.

The average monthly number of persons (including directors) employed by the company during the year was:

Details of the company's subsidiaries at 31 March 2024 are as follows:

The company has undertaken to expend sums in the future to provide retirement benefits to senior employees under the terms of their pension agreements. The liabilities are expected to be paid for the acquisition of suitable policies over the period ending with earlier of the retirement of the senior employee or on the employee's 75th birthday.

The company provided pension benefits in respect of senior employees. Amounts payable are charged to the profit and loss account in the year the contracts are entered into between the company and the employees. The number of directors to whom benefits are accruing under these pension agreements is 1 (2023: 1).

The contributions and potential liabilities of the company in respect of the pension agreements are fixed at least until the date of retirement of the employee which is 13 years from the year end date.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors are of the opinion that it does not bear any of the hallmarks of what is usually considered to be a defined benefit scheme and therefore no further disclosures are considered necessary in order to understand the nature and measurement of the liability.

The directors are of the opinion that the liability as disclosed in the financial statements represents the full and final amount which could be expected, at this stage, to be paid in the future to settle the pension agreement liabilities.

Included within profit and loss account reserves is an amount of £641,015 (2023: £577,255) in respect of the Preferred Ordinary Shares reserve in accordance with the Articles of Association.

Included in creditors is the directors' current account balance of £2,520,012 (2023: £2,520,212) as at the balance sheet date.

Included in other creditors is a balance of £1,907,582 (2023: £1,780,728) due to the Funded Unapproved Retirement Benefit Scheme at the balance sheet date and interest of £126,854 (2023: £45,000) was charged to the company during the year on the outstanding amount.

Included in other creditors is a balance due to Sines Parks (S.E.) Limited, a company controlled by Mr F Doe, amounting to £1,772,114 (2023: £1,772,114) as at the balance sheet date.

Included in other debtors is a balance due from Leisure Parks Real Estate Limited, a company in which Mr F Doe is also a director, amounting to £2,187,622 (2023: £2,187,622) at the balance sheet date.

The company's ultimate parent company is Sines Parks Holdings Limited and its registered office is 166 College Road, Harrow, Middlesex, England, HA1 1RA.