Company No:
Contents
DIRECTOR | R A Hardick |
REGISTERED OFFICE | Centenary House Peninsula Park |
Rydon Lane | |
Exeter | |
EX2 7XE | |
United Kingdom |
COMPANY NUMBER | 05097413 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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1,188,508 | 1,193,215 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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778,377 | 186,295 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 673,973 | 78,991 | ||
Total assets less current liabilities | 1,862,481 | 1,272,206 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 | (
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Provisions for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Revaluation reserve |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Salcombe Park Limited (registered number:
R A Hardick
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Salcombe Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsular Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Salcombe Retreat, Soar Mill Cove, Salcombe, TQ7 3DS.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There have been no material departures from FRS102.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings |
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Plant and machinery etc. |
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Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. During the year the company received £24,500 (2020: £30,514) in relation to council grants.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2021 |
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Additions |
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At 31 December 2021 |
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Accumulated depreciation | |||||
At 01 January 2021 |
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Charge for the financial year |
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At 31 December 2021 |
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Net book value | |||||
At 31 December 2021 |
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At 31 December 2020 |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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VAT recoverable |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to director |
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Other creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans (secured) |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
During the year, a loan existed between Salcombe Park Limited and Ocean Cove Limited, a company under common control. At the balance sheet date the amount due to Ocean Cove Limited was £1,538. The balance is repayable on demand.
During the year, a loan existed between Salcombe Park Limited and Ocean Cove Parks Limited, a company under common control. At the balance sheet date the amount due from Ocean Cove Parks was £711,331. The balance is repayable on demand.