Otterspool Adventure Centre Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07004323 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Otterspool Adventure Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Cosgrove

Mrs C Cosgrove

REGISTERED OFFICE:

37 Otterspool Drive

Aigburth

Liverpool

Merseyside

L17 5AL

REGISTERED NUMBER:

07004323 (England and Wales)

ACCOUNTANTS:

Myersons

Chartered Accountants

32 Derby Street

Ormskirk

Lancashire

L39 2BY

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

2,737,122

2,462,143

2,737,122

2,462,143

CURRENT ASSETS

Stocks

11,500

Debtors

6

1,478,717

1,492,781

Cash at bank and in hand

6,765

22,569

1,496,982

1,526,850

CREDITORS

Amounts falling due within one year

7

838,356

789,807

NET CURRENT ASSETS

658,626

737,043

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,395,748

3,199,186

CREDITORS

Amounts falling due after more than one year

8

(891,665

)

(945,001

)

PROVISIONS FOR LIABILITIES

(194,379

)

(146,513

)

NET ASSETS

2,309,704

2,107,672

CAPITAL AND RESERVES

Called up share capital

1,088,843

Share premium

143,500

Retained earnings

1,077,361

875,329

2,309,704

2,107,672

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 28 October 2025 and were signed on its behalf by:

S A Cosgrove - Director

1.	STATUTORY INFORMATION

Otterspool Adventure Centre 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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease Premium are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2023 - 61 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

7,875

AMORTISATION

At 1 January 2024

and 31 December 2024

7,875

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

COST

At 1 January 2024

1,743,395

1,858,353

405,110

Additions

266,098

53,807

87,965

Disposals

-

At 31 December 2024

2,009,493

1,912,160

493,075

DEPRECIATION

At 1 January 2024

195,761

1,256,508

231,627

Charge for year

39,825

111,659

32,696

Eliminated on disposal

-

At 31 December 2024

235,586

1,368,167

264,323

NET BOOK VALUE

At 31 December 2024

1,773,907

543,993

228,752

At 31 December 2023

1,547,634

601,845

173,483

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 January 2024

292,244

1,033

4,300,135

Additions

118,124

4,826

530,820

Disposals

(157,830

)

-

(157,830

)

At 31 December 2024

252,538

5,859

4,673,125

DEPRECIATION

At 1 January 2024

153,073

1,023

1,837,992

Charge for year

30,900

1,304

216,384

Eliminated on disposal

(118,373

)

-

(118,373

)

At 31 December 2024

65,600

2,327

1,936,003

NET BOOK VALUE

At 31 December 2024

186,938

3,532

2,737,122

At 31 December 2023

139,171

10

2,462,143

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

41,336

51,703

Other debtors

1,437,381

1,441,078

1,478,717

1,492,781

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

40,814

38,968

Hire purchase contracts

90,249

82,314

Trade creditors

278,953

217,976

Taxation and social security

272,356

200,907

Other creditors

155,984

249,642

838,356

789,807

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

691,852

732,613

Hire purchase contracts

195,051

212,388

Other creditors

4,762

-

891,665

945,001

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

730,820

771,581

Other loans

82,738

161,581

Hire purchase contracts

285,300

294,702

1,098,858

1,227,864

National Westminster Bank plc holds a legal charge dated 14 November 2011 over the property owned by the company.

There are a number of loans that are secured by way of personal guarantees from the directors.

The hire purchase liabilities are secured on the assets that they have funded.

10.	RELATED PARTY DISCLOSURES

There is a loan to the parent company of £1,397,009 (YE 2023 £1,399,717).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S & C Leisure Holding Limited.

The ultimate controlling party is Mr and Mrs S Cosgrove.