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Audited Financial Statements for the Year Ended 30 September 2018 |
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Delamere Park Management Limited |
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REGISTERED NUMBER:
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Audited Financial Statements for the Year Ended 30 September 2018 |
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for |
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Delamere Park Management Limited |
Delamere Park Management Limited (Registered number: 01013623) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Delamere Park Management Limited |
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Company Information |
for the Year Ended 30 September 2018 |
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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 Certified Accountants |
Statutory Auditors |
202 Merlin Park |
Ringtail Road |
Burscough |
Ormskirk |
Lancashire |
L40 8JY |
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BANKERS: |
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31 High Street |
Northwich |
Cheshire |
CW9 5BW |
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SOLICITORS: |
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9 Church Street |
Frodsham |
Cheshire |
WA6 7DN |
Delamere Park Management Limited (Registered number: 01013623) |
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Balance Sheet |
30 September 2018 |
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30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Revaluation reserve | 13 |
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Other reserves | 13 |
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Retained earnings | 13 |
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SHAREHOLDERS' FUNDS |
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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
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Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
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1. | STATUTORY INFORMATION |
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Delamere Park Management Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
At the Annual Meeting of the company held in September each year a budget is adopted to set the plot owners |
contributions for the coming financial year. |
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Despite no further budgets being prepared for the coming twelve months from the date of approval of the |
financial statements the directors of the company consider that it is appropriate to prepare the financial |
statements on a going concern basis and that current and future sources of income will be more than adequate for |
the company's needs. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold land and buildings | - |
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Play area refurbishment | - |
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Bar refurbishment | - |
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Bar equipment, fixtures and fittings | - |
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Landscape equipment | - |
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Kitchen refurbishment | - |
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It is the company's policy to ensure that its freehold land and buildings are maintained to a high standard by an |
ongoing maintenance programme, ensuring that estimated residual value exceeds net book amounts. As a |
consequence any element of depreciation would, in the opinion of the directors, be immaterial. No provision for |
depreciation of freehold land and buildings has therefore been included in the accounts. |
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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 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 balance sheet date. |
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Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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3. | 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 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Freehold |
land and | Play area | Bar |
buildings | refurbishment | refurbishment |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2017 |
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Additions |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Bar |
equipment, |
fixtures |
and | Landscape | Kitchen |
fittings | equipment | refurbishment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 October 2017 |
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Additions |
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Disposals | ( |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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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 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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Cost or valuation at 30 September 2018 is represented by: |
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Freehold |
land and | Play area | Bar |
buildings | refurbishment | refurbishment |
£ | £ | £ |
Valuation in 1980 | 50,000 | - | - |
Cost | 1,043,200 | 18,614 | 9,582 |
1,093,200 | 18,614 | 9,582 |
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Bar |
equipment, |
fixtures |
and | Landscape | Kitchen |
fittings | equipment | refurbishment | Totals |
£ | £ | £ | £ |
Valuation in 1980 | - | - | - | 50,000 |
Cost | 14,431 | 31,474 | 5,937 | 1,123,238 |
14,431 | 31,474 | 5,937 | 1,173,238 |
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6. | STOCKS |
30.9.18 | 30.9.17 |
£ | £ |
Bar stocks |
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Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loan | 67,112 | 73,156 |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.18 | 30.9.17 |
£ | £ |
Within one year |
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Between one and five years |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.9.18 | 30.9.17 |
£ | £ |
Bank loans |
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The company has given a first legal charge over its freehold property to Barclays Bank plc as security for bank |
borrowings. |
Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.18 | 30.9.17 |
value: | £ | £ |
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Ordinary | £1.00 | 5 | 5 |
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13. | RESERVES |
Retained | Revaluation | Other |
earnings | reserve | reserves | Totals |
£ | £ | £ | £ |
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At 1 October 2017 |
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982,808 |
Deficit for the year | ( |
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At 30 September 2018 |
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973,854 |
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Revaluation reserve - The freehold land and buildings were valued at £300,000 on 1 October 1980 on the |
transfer of the administration of the estate from Whelmar Limited to the plot owners of the estate. |
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A professional valuation has been sought previously but the restrictive nature of certain covenants in the Trust |
Deed governing the administration of Delamere Park precluded the valuer recommending a basis for valuation or |
an appropriate value for inclusion in the financial statements. |
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Included within the freehold land and buildings which were transferred to the plot owners of the estate from |
Whelmar Limited on 1 October 1980 was the main club building. This building was totally destroyed by fire on |
the night of Wednesday 10 March 2004. The directors of the company consider that the value of this building |
when it was transferred to the plot owners of the estate from Whelmar Limited was £250,000. |
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Other reserves - These represent the insurance proceeds received after the fire on the night of Wednesday 10 |
March 2004 plus bank account interest received on the insurance proceeds which were deposited in a Business |
Base Rate Tracker Account separate from the other funds of the company. The net book value of any assets |
destroyed in the fire and any other fire losses and investigation costs have been deducted from the insurance |
proceeds and the bank account interest received. |
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14. | 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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15. | PENSION COMMITMENTS |
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The company operates a defined contribution pension scheme for the members of staff. The assets of the scheme |
are held separately from those of the company, being invested with insurance companies. Pension costs charged |
in the Trading and Profit and Loss Account represent the contributions payable by the company in the year. |
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At the balance sheet date unpaid contributions of £196 (2017: - £77) were due to the fund. |
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16. | CAPITAL COMMITMENTS |
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At 30 September 2018 the company had capital commitments totalling £Nil (2017: - £Nil). |
Delamere Park Management Limited (Registered number: 01013623) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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17. | RELATED PARTY DISCLOSURES |
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The issued shares are held by the directors of the company in their capacity as trustees of Delamere Park |
Management Trust, on behalf of the plot owners of Delamere Park. |
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18. | ULTIMATE CONTROLLING PARTY |
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The company was controlled during the year by the directors holding office. They are responsible for |
ascertaining the wishes of the plot owners of Delamere Park. |