REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
ICE ARENA (WALES) LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
ICE ARENA (WALES) LIMITED |
ICE ARENA (WALES) LIMITED (REGISTERED NUMBER: 08319394) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
ICE ARENA (WALES) LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
|
|
|
|
|
|
Directors: |
|
|
|
|
|
|
|
|
Registered office: |
|
|
|
|
|
|
|
|
|
Registered number: |
|
|
|
|
|
|
Auditors: |
|
1st Floor Waterside House |
Waterside Drive |
Wigan |
Lancashire |
WN3 5AZ |
ICE ARENA (WALES) LIMITED (REGISTERED NUMBER: 08319394) |
|
BALANCE SHEET |
31 DECEMBER 2019 |
|
31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
ICE ARENA (WALES) LIMITED (REGISTERED NUMBER: 08319394) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
1. | STATUTORY INFORMATION |
|
Ice Arena (Wales) Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The directors have carried out a going concern review for the 12 months from the approval of these financial statements and in particular have considered the potential impact of the Coronavirus (COVID - 19) pandemic. Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that the company will be able to remain operational throughout the pandemic. |
|
The company is able to meet its day to day working capital requirements and also has the support of other related companies. On the basis of this review, the directors consider it appropriate to prepare the accounts on a going concern basis. |
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
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 |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
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. |
|
ICE ARENA (WALES) LIMITED (REGISTERED NUMBER: 08319394) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
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. |
|
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. |
|
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. |
|
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. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2019 |
|
|
|
|
Additions |
|
|
|
|
At 31 December 2019 |
|
|
|
|
DEPRECIATION |
At 1 January 2019 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 December 2019 |
|
|
|
|
NET BOOK VALUE |
At 31 December 2019 |
|
|
|
|
At 31 December 2018 |
|
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
ICE ARENA (WALES) LIMITED (REGISTERED NUMBER: 08319394) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Amounts owed to related parties | 982,523 | 1,132,524 |
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
Amounts owed to related parties is an amount due to Figurehead Homes Limited. The amount is interest free and is repayable on demand. |
|
The creditor has been treated as falling due within one year as this is the technical legal status at the balance sheet date. Subsequent to the year end the directors have confirmed that as in previous years they will provide sufficient financing to support the company for the 12 months following the approval of these accounts. |
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.19 | 31.12.18 |
value: | £ | £ |
|
Ordinary | 1 | 1 | 1 |
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
10. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
During the year there were recharges and transfers from Figurehead Homes Limited, a company of which Mr C J Baybutt, Mr D J Baybutt and Mr J Melling are directors of £150,000 (2018 - £184,882). There was a balance due to Figurehead Homes Limited as at 31 December 2019 of £982,523 (2018 - £1,132,523). |
|
11. | ULTIMATE PARENT COMPANY |
|
The controlling party is Helium Miracle 113 Limited. |