Britannia Pier (Great Yarmouth) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14218840

Britannia Pier (Great Yarmouth) Ltd

Unaudited financial statements

31 March 2025

Britannia Pier (Great Yarmouth) Ltd

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		1,761,526		2,143,075

Current assets

Stocks		27,196	28,049
Debtors	6	208,056	69,561
Cash at bank and in hand		4,381	35,633
		---------	---------
		239,633	133,243

Creditors: Amounts falling due within one year	7	( 2,638,071)		( 2,406,559)
		-----------		-----------
Net current liabilities			( 2,398,438)		( 2,273,316)
			-----------		-----------
Total assets less current liabilities			( 636,912)		( 130,241)

Creditors: Amounts falling due after more than one year	8		( 1,059,786)		–

Provisions

Taxation including deferred tax		–		( 6,073)

Accruals and deferred income	( 176,620)	( 162,313)
	-----------	---------
Net liabilities	( 1,873,318)	( 298,627)
	-----------	---------

Capital and reserves

Called up share capital	9	1	1
Profit and loss account		( 1,873,319)	( 298,628)
		-----------	---------
Shareholders deficit		( 1,873,318)	( 298,627)
		-----------	---------

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 income statement has not been delivered.

For the year ending 31 March 2025 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 .

Britannia Pier (Great Yarmouth) Ltd

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

J J Abbott

Director

Company registration number: 14218840

Britannia Pier (Great Yarmouth) Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, NR7 0LB. The trading address is Marine Parade, Great Yarmouth, NR30 2EH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the amount of income from the bars, theatre and amusement rides and attractions located on the pier during the period, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset when bought fully in to use. The pier was undergoing refurbishment during the period and hence no depreciation has been charged.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	5% straight line
Plant and machinery	-	20% reducing balance
Fixtures, fittings and equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution pension plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 46 (2024: 34 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1 April 2024	1,888,622	258,675	156,750	2,304,047
Additions	1,152,973	8,890	29,187	1,191,050
Disposals	( 1,270,000)	( 56,275)	( 45)	( 1,326,320)
	-----------	---------	---------	-----------
At 31 March 2025	1,771,595	211,290	185,892	2,168,777
	-----------	---------	---------	-----------
Depreciation
At 1 April 2024	93,192	46,400	21,380	160,972
Charge for the year	39,430	124,478	90,849	254,757
Disposals	–	( 8,469)	( 9)	( 8,478)
	-----------	---------	---------	-----------
At 31 March 2025	132,622	162,409	112,220	407,251
	-----------	---------	---------	-----------
Carrying amount
At 31 March 2025	1,638,973	48,881	73,672	1,761,526
	-----------	---------	---------	-----------
At 31 March 2024	1,795,430	212,275	135,370	2,143,075
	-----------	---------	---------	-----------

6. Debtors

	2025	2024
	£	£
Trade debtors	12,925	1,084
Prepayments and accrued income	62,558	68,477
Other debtors	132,573	–
	---------	-------
	208,056	69,561
	---------	-------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	79,560	–
Trade creditors	341,229	122,346
Amounts owed to group undertakings	2,214,292	2,276,402
Social security and other taxes	2,191	6,947
Other creditors	799	864
	-----------	-----------
	2,638,071	2,406,559
	-----------	-----------

Bank loans are secured via a charge against property of the company and group companies, as well as a fixed and floating charge and guarantee given by the company and group companies.

8. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,059,786	–
	-----------	----

Bank loans are secured via a charge against property of the company and group companies, as well as a fixed and floating charge and guarantee given by the company and group companies.

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

10. Contingencies

A bank loan of £ 1,559,300 (2024: £ 1,600,000 ) included as a liability in the financial statements of the parent company is secured via a fixed and floating charge on all property of this company.

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are £4,464,000 (2024: £4,510,500).