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Beic Parcio Cymru Ltd |
T/A |
BikePark Wales |
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Audited Financial Statements for the Period 1 June 2018 to 30 September 2019 |
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Beic Parcio Cymru Ltd |
T/A |
BikePark Wales |
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Audited Financial Statements for the Period 1 June 2018 to 30 September 2019 |
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Beic Parcio Cymru Ltd |
T/A BikePark Wales |
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Company Information |
for the Period 1 June 2018 to 30 September 2019 |
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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 2019 |
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2019 | 2018 |
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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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 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and 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 Period 1 June 2018 to 30 September 2019 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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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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The short leasehold property is shown at fair value. Any aggregate surplus or deficit arising |
from changes in fair value is recognised in the profit and loss account via other |
comprehensive income |
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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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Taxation |
Taxation for the period 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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Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Period 1 June 2018 to 30 September 2019 |
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1. | ACCOUNTING POLICIES - continued |
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 period 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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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where |
substantially all the risks and rewards of ownership of the asset have passed to the |
company, are capitalised in the balance sheet and depreciated over their useful lives. |
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The interest element of the rental obligations 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. |
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Rentals paid under operating leases are charged to income on a straight line basis over the |
lease term. |
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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 period 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 Period 1 June 2018 to 30 September 2019 |
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3. | TANGIBLE FIXED ASSETS |
Assets |
Short | under | Plant and |
leasehold | construction | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2018 |
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Additions |
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Disposals |
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( |
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Reclassification/transfer |
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At 30 September 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for period |
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Eliminated on disposal |
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( |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 31 May 2018 |
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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 Period 1 June 2018 to 30 September 2019 |
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3. | TANGIBLE FIXED ASSETS - continued |
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Fixtures | Mountain |
and | bikes & | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 June 2018 |
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Additions |
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Disposals |
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( |
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Reclassification/transfer |
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At 30 September 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for period |
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Eliminated on disposal |
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( |
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( |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 31 May 2018 |
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The short leasehold property is shown at fair value. Any aggregate surplus or deficit arising |
from changes in fair value is recognised in the profit and loss account via other |
comprehensive income. |
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Cost or valuation at 30 September 2019 is represented by: |
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Assets |
Short | under | Plant and |
leasehold | construction | machinery |
£ | £ | £ |
Valuation in 2018 | 1,019,091 | - | - |
Cost | 1,491,500 | 342,049 | 476,448 |
2,510,591 | 342,049 | 476,448 |
Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Period 1 June 2018 to 30 September 2019 |
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3. | TANGIBLE FIXED ASSETS - continued |
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Fixtures | Mountain |
and | bikes & | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2018 | - | - | - | 1,019,091 |
Cost | 119,446 | 123,440 | 31,945 | 2,584,828 |
119,446 | 123,440 | 31,945 | 3,603,919 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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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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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 £375,000 |
(2018 - £444,250). |
Beic Parcio Cymru Ltd (Registered number: 06919030) |
T/A BikePark Wales |
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Notes to the Financial Statements - continued |
for the Period 1 June 2018 to 30 September 2019 |
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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. |