Five Sisters Zoo Ltd - Period Ending 2016-09-30

Registration number: SC377723

Five Sisters Zoo Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Five Sisters Zoo Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Five Sisters Zoo Ltd
(Registration number: SC377723)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					830,606			731,205
Current assets
Stocks					6,298			6,700
Debtors					2			100,240
Cash at bank and in hand					244,543			63,681
					250,843			170,621
Creditors: Amounts falling due within one year					(1,096,592)			(909,126)
Net current liabilities					(845,749)			(738,505)
Total assets less current liabilities					(15,143)			(7,300)
Creditors: Amounts falling due after more than one year					(153,465)			(140,316)
Provisions for liabilities					(105,313)			(128,217)
Net liabilities					(273,921)			(275,833)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(274,021)			(275,933)
Shareholders' deficit					(273,921)			(275,833)

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 7 July 2017 and signed on its behalf by:

.........................................
Mr BB Curran
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The accounts have been prepared on a going concern basis as the director has undertaken to continue supporting the company using a loan account with Land and Utility Ltd (fellow subsidiary) until such a time that the company has generated sufficient profits to allow it to be repaid.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line
Motor vehicles	33% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		1,335,456			1,335,456
Additions		408,923			408,923
At 30 September 2016		1,744,379			1,744,379
Depreciation
At 1 October 2015		604,251			604,251
Charge for the year		309,522			309,522
At 30 September 2016		913,773			913,773
Net book value
At 30 September 2016		830,606			830,606
At 30 September 2015		731,205			731,205

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		31,786			31,786
Amounts falling due after more than one year		138,150			114,321
Total secured creditors		169,936			146,107

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Page 3

Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Land and Utility Limited (Fellow subsidiary) Various expenses were paid by Land and Utility Limited on behalf of Five Sisters Zoo Limited. At the balance sheet date the amount due to Land and Utility Limited was £864,126 (2015 - £710,401).

Curran and Curran Limited (Parent company ) The above operated a loan account with the company during the year. There are no repayment terms and no interest is due on the balance. At the balance sheet date the amount due (to)/from Curran and Curran Limited was £nil (2015 - £85,538).

6

Control

The company is a wholly owned subsidiary of Curran & Curran Limited. The ultimate controlling party is Brian Curran and Shirley Curran.

Page 4