Brentwood Park Ski and Snowboard Centre Limited Filleted accounts for Companies House (small and micro)

BRENTWOOD PARK SKI AND SNOWBOARD CENTRE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03965895

Brentwood Park Ski and Snowboard Centre Limited

Filleted Unaudited Financial Statements

31 March 2021

Brentwood Park Ski and Snowboard Centre Limited

Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	5		15,840		25,476

Current assets

Stocks		–	427
Debtors	6	11,886	120,546
Cash at bank and in hand		154,176	147,668
		---------	---------
		166,062	268,641

Creditors: amounts falling due within one year	7	103,926		55,955
		---------		---------
Net current assets			62,136		212,686
			--------		---------
Total assets less current liabilities			77,976		238,162

Provisions

Taxation including deferred tax	3,010	4,840
	--------	---------
Net assets	74,966	233,322
	--------	---------

Capital and reserves

Called up share capital	9	40	100
Capital redemption reserve		( 199,940)	–
Profit and loss account		274,866	233,222
		---------	---------
Shareholders funds		74,966	233,322
		---------	---------

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 March 2021 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 .

Brentwood Park Ski and Snowboard Centre Limited

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 1 December 2021 , and are signed on behalf of the board by:

Mr Steven Cis	Mrs Sophie Cis
Director	Director

Company registration number: 03965895

Brentwood Park Ski and Snowboard Centre Limited

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

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.

Going concern

The directors have considered the impact of the covid-19 pandemic in their assessment of the company's ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the company and its customers, but having taken all the factors into account, the directors are of the opinion that the company has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and 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.

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.

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:

Leasehold improvements	-	20% straight line
Equipment	-	20% straight line

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.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2020: 13 ).

5. Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost
At 1 April 2020	1,736	85,446	87,182
Additions	–	238	238
	-------	--------	--------
At 31 March 2021	1,736	85,684	87,420
	-------	--------	--------
Depreciation
At 1 April 2020	1,736	59,970	61,706
Charge for the year	–	9,874	9,874
	-------	--------	--------
At 31 March 2021	1,736	69,844	71,580
	-------	--------	--------
Carrying amount
At 31 March 2021	–	15,840	15,840
	-------	--------	--------
At 31 March 2020	–	25,476	25,476
	-------	--------	--------

6. Debtors

	2021	2020
	£	£
Directors loan account	–	120,546
Other debtors	11,886	–
	--------	---------
	11,886	120,546
	--------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Accruals and deferred income	4,732	23,697
Corporation tax	13,893	6,988
Social security and other taxes	5,801	25,270
Director loan accounts	79,500	–
	---------	--------
	103,926	55,955
	---------	--------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2021	2020
	£	£
Included in provisions	3,010	4,840
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2021	2020
	£	£
Accelerated capital allowances	3,010	4,840
	-------	-------

9. Called up share capital

Authorised share capital

	2021		2020
	No.	£	No.	£
Ordinary A shares of £ 1 each	2,000	2,000	2,000	2,000
Ordinary B shares of £ 1 each	2,000	2,000	2,000	2,000
Ordinary C shares of £ 1 each	2,000	2,000	2,000	2,000
Ordinary D shares of £ 1 each	2,000	2,000	2,000	2,000
Ordinary E shares of £1 each	2,000	2,000	2,000	2,000
	--------	--------	--------	--------
	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary A shares of £ 1 each	–	–	40	40
Ordinary B shares of £ 1 each	10	10	10	10
Ordinary C shares of £ 1 each	20	20	20	20
Ordinary D shares of £ 1 each	10	10	10	10
Ordinary E shares of £1 each	–	–	20	20
	----	----	----	----
	40	40	100	100
	----	----	----	----

10. Directors' advances, credits and guarantees

At the year end Mr S Cis owed the company £Nil (2020 - £120,546) which is shown amongst debtors. This amount was repaid within 9 months of the year end.

11. Related party transactions

At the year end the company owed its director £79,500 (2020 - £Nil).