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Financial Statements |
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for the Year Ended 30 November 2018 |
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for |
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Petwood Leisure Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 November 2018 |
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for |
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Petwood Leisure Limited |
Petwood Leisure Limited (Registered number: 07090990) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Petwood Leisure Limited |
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Company Information |
for the Year Ended 30 November 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Newland House |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
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BANKERS: |
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221 High Street |
LINCOLN |
Lincolnshire |
LN1 1TS |
Petwood Leisure Limited (Registered number: 07090990) |
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Statement of Financial Position |
30 November 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Petwood Leisure Limited (Registered number: 07090990) |
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Statement of Financial Position - continued |
30 November 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Petwood Leisure Limited (Registered number: 07090990) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2018 |
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1. | STATUTORY INFORMATION |
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Petwood Leisure Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents sales of goods and charges for caravan pitches , excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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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Financial instruments |
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial |
liabilities are recognised in the accounts only when the entity becomes party to the contractual |
provisions of the instrument and their measurement basis is as follows: |
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Financial assets - trade and other debtors are basic financial instruments and are debt |
instruments measured at amortised cost. Prepayments are not financial instruments. |
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Cash at bank is classified as a basic financial instrument and is measured at transaction price. |
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Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, |
and are measured at amortised cost. Where a financial liability constitutes a financing transaction |
it is initially and subsequently measures at the present value of future payments, discounted at a |
market rate of interest. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, 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 statement of financial position date. |
Petwood Leisure Limited (Registered number: 07090990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the statement of financial position 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 and other post-retirement benefits |
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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 December 2017 |
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Additions |
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At 30 November 2018 |
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DEPRECIATION |
At 1 December 2017 |
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Charge for year |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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Petwood Leisure Limited (Registered number: 07090990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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VAT | 8,766 | 8,424 |
Other creditors |
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Directors' current accounts | 229,709 | 234,174 |
Accruals and deferred income |
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7. | RELATED PARTY DISCLOSURES |
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Included in creditors are balances of £200,251 (2017: £202,386) and £29,458 (2017: £31,788) |
owed respectively to Mr R T Booth and Mrs J Booth on their directors' current accounts. |
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Also included in creditors is a balance of £32,857 (2017: £32,857) owed to Petwood Farming Co |
(Woodhall) Ltd. This company is controlled by Mr R T Booth, a directors and shareholder of the |
company. This amount is repayable on demand. |
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The above loans are unsecured and interest free. |