Brentwood Park Ski and Snowboard Centre Limited Company Accounts
Brentwood Park Ski and Snowboard Centre Limited Company Accounts
COMPANY REGISTRATION NUMBER:
03965895
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Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
8 |
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--------- |
--------- |
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Net current assets |
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--------- |
--------- |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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– |
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--------- |
--------- |
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Net assets |
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--------- |
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Capital and reserves
Called up share capital |
10 |
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Profit and loss account |
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--------- |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
17 November 2017
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
03965895
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Notes to the Financial Statements |
Year ended 31 March 2017
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
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Income tax
Tangible assets
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 |
- |
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Equipment |
- |
20% straight line |
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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
Provisions
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
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2016:
6
).
5.
Tax on profit
Major components of tax expense
2017 |
2016 |
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£ |
£ |
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Current tax:
UK current tax expense |
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Deferred tax:
Origination and reversal of timing differences |
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– |
-------- |
-------- |
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Tax on profit |
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-------- |
-------- |
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6.
Tangible assets
Land and buildings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2016 |
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36,156 |
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Additions |
– |
12,922 |
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------- |
-------- |
-------- |
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At 31 March 2017 |
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49,078 |
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------- |
-------- |
-------- |
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Depreciation |
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At 1 April 2016 |
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28,527 |
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Charge for the year |
– |
5,507 |
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------- |
-------- |
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At 31 March 2017 |
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34,034 |
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-------- |
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Carrying amount |
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At 31 March 2017 |
– |
15,044 |
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------- |
-------- |
-------- |
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At 31 March 2016 |
– |
7,629 |
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-------- |
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7.
Debtors
2017 |
2016 |
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£ |
£ |
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Prepayments and accrued income |
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Directors loan account |
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– |
-------- |
-------- |
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-------- |
-------- |
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8.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
– |
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-------- |
-------- |
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9.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2017 |
2016 |
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£ |
£ |
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Included in provisions |
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– |
------- |
---- |
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10.
Called up share capital
Authorised share capital
2017 |
2016 |
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No. |
£ |
No. |
£ |
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2,000 |
2,000 |
2,000 |
2,000 |
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2,000 |
2,000 |
2,000 |
2,000 |
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2,000 |
2,000 |
2,000 |
2,000 |
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2,000 |
2,000 |
2,000 |
2,000 |
Ordinary E shares of £1 each |
2,000 |
2,000 |
2,000 |
2,000 |
-------- |
-------- |
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10,000 |
10,000 |
10,000 |
10,000 |
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-------- |
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Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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40 |
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40 |
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10 |
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10 |
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20 |
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20 |
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10 |
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10 |
Ordinary E shares of £1 each |
20 |
20 |
20 |
20 |
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11.
Directors' advances, credits and guarantees
At the year end the directors owed the company £268 (2016 - £133 credit) which is shown amongst debtors.
12.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.