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Beic Parcio Cymru Ltd |
T/A |
BikePark Wales |
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Audited Financial Statements for the Year Ended 30 September 2021 |
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Beic Parcio Cymru Ltd |
T/A |
BikePark Wales |
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Audited Financial Statements for the Year Ended 30 September 2021 |
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Beic Parcio Cymru Ltd |
T/A BikePark Wales |
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Company Information |
for the Year Ended 30 September 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY
AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Balance Sheet |
30 September 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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DEFERRED TAX | ( |
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CAPITAL GRANTS | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Non distributable reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Balance Sheet - continued |
30 September 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Changes in accounting policies |
The short leasehold property accounting policy has been altered so that depreciation is charged from 2019 over the term of the lease. Prior to that date the short leasehold property was revalued. |
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Turnover |
Turnover represents the value of services provided, net of vat and in relation to, the principal activity of the company, mountain bike park activities, under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. |
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Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. |
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Where deposits are received from customers in advance of services provided, or where revenue and sponsorship income is received in advance, the amounts are recorded as deferred income and included as part of creditors due within one year. |
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Tangible fixed assets |
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Short leasehold | - |
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Assets under construction | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Mountain bikes & vehicles | - |
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Office equipment | - |
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Capital grants |
Capital grants will be released to income on a five year straight line basis from the date the assets were completed. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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1. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs |
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. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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3. | TANGIBLE FIXED ASSETS |
Assets |
Short | under | Plant and |
leasehold | construction | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2020 |
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Additions |
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Disposals |
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Transfer | 552,018 | (552,018 | ) | - |
At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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Fixtures | Mountain |
and | bikes & | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 October 2020 |
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Additions |
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Disposals |
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( |
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Transfer | - | - | - | - |
At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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3. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 30 September 2021 is represented by: |
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Assets |
Short | under | Plant and |
leasehold | construction | machinery |
£ | £ | £ |
Valuation in 2018 | 1,019,091 | - | - |
Cost | 2,690,726 | 4,803 | 651,188 |
3,709,817 | 4,803 | 651,188 |
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Fixtures | Mountain |
and | bikes & | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2018 | - | - | - | 1,019,091 |
Cost | 122,061 | 168,579 | 23,490 | 3,660,847 |
122,061 | 168,579 | 23,490 | 4,679,938 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxes & social security costs |
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Other creditors, accruals |
& deferred income |
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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
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The company had total guarantees and commitments at the balance sheet date of £325,000 (2020 - £477,500). |
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8. | ULTIMATE PARENT UNDERTAKING |
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The company's ultimate parent undertaking at the balance sheet date was Bikepark Holdings Limited. |