REGISTERED NUMBER: 05224146 (England and Wales)

A & C Leisure (Holdings) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C W Holmes

SECRETARY:

Mr C W Holmes

REGISTERED OFFICE:

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

REGISTERED NUMBER:

05224146 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

443,705

444,118

CURRENT ASSETS

Stocks

35,000

35,000

Debtors

5

266,457

285,134

Cash at bank and in hand

25,100

14,207

326,557

334,341

CREDITORS

Amounts falling due within one year

6

25,998

38,003

NET CURRENT ASSETS

300,559

296,338

TOTAL ASSETS LESS CURRENT LIABILITIES

744,264

740,456

CREDITORS

Amounts falling due after more than one year

7

(133,655

)

(150,440

)

PROVISIONS FOR LIABILITIES

(235

)

(322

)

NET ASSETS

610,374

589,694

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

342,468

342,468

Retained earnings

267,904

247,224

SHAREHOLDERS' FUNDS

610,374

589,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 June 2018 and were signed by:

Mr C W Holmes - Director

1.	STATUTORY INFORMATION

A & C Leisure (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 October 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 October 2016

and 30 September 2017

442,468

3,725

446,193

DEPRECIATION

At 1 October 2016

-

2,075

2,075

Charge for year

-

413

413

At 30 September 2017

-

2,488

2,488

NET BOOK VALUE

At 30 September 2017

442,468

1,237

443,705

At 30 September 2016

442,468

1,650

444,118

Cost or valuation at 30 September 2011 is represented by:

Land and

buildings

£

Valuation in 2010

350,000

Valuation in 2011

92,468

442,468

If land had not been revalued it would have been included at the following historical cost:

2011

2010

£

£

Cost

100,000

100,000

The freehold interest in Gwydyr View Holiday Home Park was valued on an open market basis on 5 October

2011 by Colliers International UK.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by participating interests

161,825

180,125

Other debtors

104,632

105,009

266,457

285,134

As at 30th September 2017 the company was owed £148,953 (2016: £148,953) by its parent company Holmes

Family Investments Ltd.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

21,310

21,310

Hire purchase contracts

-

13,165

Trade creditors

201

1,855

Taxation and social security

3,537

-

Other creditors

950

1,673

25,998

38,003

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

133,655

150,440

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,795

22,580

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

154,965

171,750

The bank loan is secured on property at Gwydyr View, Gower Road, Trefriw, Conwy, LL27 0RZ and is in favour

of Natwest Bank.

9.

RESERVES

Revaluation

reserve

£

At 1 October 2016

and 30 September 2017

342,468

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

Mr C W Holmes

Balance outstanding at start of year

99,027

-

Amounts advanced

308,558

99,027

Amounts repaid

(304,181

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

103,404

99,027

The director's loan account was repaid in full on 28th June 2018.

11.	RELATED PARTY DISCLOSURES

During the year the company loaned £18,800 to Restaurant 72 Limited, a company in which Mr Holmes is also a

director. At the year end £1,265 was owed to the company.

During the year the company loaned £12,607 to North Wales Coffee Lounge Limited, a company in which Mr

Holmes is also a director. At the year end £11,607 was owed to the company.

During the year the company paid a dividend of Nil (2016: £15,000) to its parent company Holmes Family

Investments Ltd.

12.	ULTIMATE CONTROLLING PARTY

The ultimate control of the company lies with Craig Holmes on the basis that he owns all of the issued share

capital in Holmes Family Investments Limited, which owns all of the issued share capital in A & C Leisure

(Holdings) Limited.