REGISTERED NUMBER: 01907111 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2013

for

Park Leisure Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T Markham

SECRETARY:

K D Jones FCCA

REGISTERED OFFICE:

Pivington Mill

Pluckley

Ashford

Kent

TN27 0PG

REGISTERED NUMBER:

01907111 (England and Wales)

ACCOUNTANTS:

The Mudd Partnership

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Intangible assets

2

255,621

98,984

Tangible assets

3

114,031

144,642

369,652

243,626

CURRENT ASSETS

Stocks

317,074

258,019

Debtors

526,253

458,810

Cash at bank and in hand

18,873

1,104

862,200

717,933

CREDITORS

Amounts falling due within one year

4

1,179,305

1,212,819

NET CURRENT LIABILITIES

(317,105

)

(494,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

52,547

(251,260

)

CREDITORS

Amounts falling due after more than one year

4

40,500

10,509

NET ASSETS/(LIABILITIES)

12,047

(261,769

)

CAPITAL AND RESERVES

Called up share capital

5

120

120

Profit and loss account

11,927

(261,889

)

SHAREHOLDERS' FUNDS

12,047

(261,769

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 June 2013 and were signed by:

T Markham - Director

1.	ACCOUNTING POLICIES

Compliance with accounting standards

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards

(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as

otherwise stated).

The company meets it day to day working capital requirements through debt factoring and the use of a bank loan,

which replaced the companies overdraft during the year.

Based on existing contracts, anticipated expenditure and the above commentary by the company, Park Leisure

Limited should be able to meet it's obligations for the foreseeable future. On this basis, the director considers it

appropriate to prepare the financial statements on the going concern basis.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of fifteen years.

Licences

Licences are being amortised evenly over the estimated useful lives of 3 years.

Patents and development costs

Patents and development costs are being amortised evenly over the estimated useful lives of between 3 and 10

years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and

depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are

included in creditors net of the finance charge allocated to future periods. The finance element of the rental

payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net

obligation outstanding in each period.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2012

342,583

Additions

218,387

At 30 April 2013

560,970

AMORTISATION

At 1 May 2012

243,599

Amortisation for year

61,750

At 30 April 2013

305,349

NET BOOK VALUE

At 30 April 2013

255,621

At 30 April 2012

98,984

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2012

356,029

Disposals

(31,438

)

At 30 April 2013

324,591

DEPRECIATION

At 1 May 2012

211,387

Charge for year

20,482

Eliminated on disposal

(21,309

)

At 30 April 2013

210,560

NET BOOK VALUE

At 30 April 2013

114,031

At 30 April 2012

144,642

4.

CREDITORS

Creditors include an amount of £ 311,868 (30.4.12 - £ 117,956 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.13

30.4.12

value:

£

£

120

Ordinary

1

120

120

6.	TRANSACTIONS WITH DIRECTOR

The following loan to directors subsisted during the years ended 30 April 2013 and 30 April 2012:

30.4.13

30.4.12

£

£

T Markham

Balance outstanding at start of year

-

-

Amounts advanced

5,101

-

Amounts repaid

-

-

Balance outstanding at end of year

5,101

-