Silverfin false 31/12/2021 31/12/2021 01/01/2021 R A Hardick 29/01/2021 J P Parker 29/01/2021 18/06/2004 N M Parker 29/01/2021 18/06/2004 05 September 2022 The principal activity of the Company during the financial year was the leasing of holiday home lodges. 05097413 2021-12-31 05097413 bus:Director1 2021-12-31 05097413 bus:Director2 2021-12-31 05097413 bus:Director3 2021-12-31 05097413 2020-12-31 05097413 core:CurrentFinancialInstruments 2021-12-31 05097413 core:CurrentFinancialInstruments 2020-12-31 05097413 core:Non-currentFinancialInstruments 2021-12-31 05097413 core:Non-currentFinancialInstruments 2020-12-31 05097413 core:ShareCapital 2021-12-31 05097413 core:ShareCapital 2020-12-31 05097413 core:RevaluationReserve 2021-12-31 05097413 core:RevaluationReserve 2020-12-31 05097413 core:CapitalRedemptionReserve 2021-12-31 05097413 core:CapitalRedemptionReserve 2020-12-31 05097413 core:RetainedEarningsAccumulatedLosses 2021-12-31 05097413 core:RetainedEarningsAccumulatedLosses 2020-12-31 05097413 core:LandBuildings 2020-12-31 05097413 core:OtherPropertyPlantEquipment 2020-12-31 05097413 core:LandBuildings 2021-12-31 05097413 core:OtherPropertyPlantEquipment 2021-12-31 05097413 core:RemainingRelatedParties core:CurrentFinancialInstruments 2021-12-31 05097413 core:RemainingRelatedParties core:CurrentFinancialInstruments 2020-12-31 05097413 core:CurrentFinancialInstruments core:Secured 2021-12-31 05097413 bus:OrdinaryShareClass1 2021-12-31 05097413 2021-01-01 2021-12-31 05097413 bus:FullAccounts 2021-01-01 2021-12-31 05097413 bus:SmallEntities 2021-01-01 2021-12-31 05097413 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 05097413 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05097413 bus:Director1 2021-01-01 2021-12-31 05097413 bus:Director2 2021-01-01 2021-12-31 05097413 bus:Director3 2021-01-01 2021-12-31 05097413 core:LandBuildings core:TopRangeValue 2021-01-01 2021-12-31 05097413 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 05097413 2020-01-01 2020-12-31 05097413 core:LandBuildings 2021-01-01 2021-12-31 05097413 core:CurrentFinancialInstruments 2021-01-01 2021-12-31 05097413 core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 05097413 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 05097413 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05097413 (England and Wales)

SALCOMBE PARK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

SALCOMBE PARK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2021

Contents

SALCOMBE PARK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2021
SALCOMBE PARK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2021
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
SALCOMBE PARK LIMITED

BALANCE SHEET

As at 31 December 2021
SALCOMBE PARK LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 1,188,508 1,193,215
1,188,508 1,193,215
Current assets
Stocks 1,947 250
Debtors 4 727,114 94,968
Cash at bank and in hand 49,316 91,077
778,377 186,295
Creditors
Amounts falling due within one year 5 ( 104,404) ( 107,304)
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 ( 676,706) ( 138,748)
Provisions for liabilities ( 216,080) ( 164,404)
Net assets 969,695 969,054
Capital and reserves
Called-up share capital 7 240 240
Revaluation reserve 730,529 730,529
Capital redemption reserve 240 240
Profit and loss account 238,686 238,045
Total shareholder's funds 969,695 969,054

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Salcombe Park Limited (registered number: 05097413) were approved and authorised for issue by the Director on 05 September 2022. They were signed on its behalf by:

R A Hardick
Director
SALCOMBE PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
SALCOMBE PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

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.

General information and basis of accounting

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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is stated net of VAT, rebates and trade discounts, and after eliminating sales within the company.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

Government grants

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.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2021 1,202,045 9,669 1,211,714
Additions 9,761 3,976 13,737
At 31 December 2021 1,211,806 13,645 1,225,451
Accumulated depreciation
At 01 January 2021 16,027 2,472 18,499
Charge for the financial year 16,027 2,417 18,444
At 31 December 2021 32,054 4,889 36,943
Net book value
At 31 December 2021 1,179,752 8,756 1,188,508
At 31 December 2020 1,186,018 7,197 1,193,215

4. Debtors

2021 2020
£ £
Trade debtors 9,631 602
Amounts owed by related parties 711,331 0
Prepayments 1,139 1,366
VAT recoverable 254 0
Other debtors 4,759 93,000
727,114 94,968

5. Creditors: amounts falling due within one year

2021 2020
£ £
Bank loans (secured) 42,677 14,116
Trade creditors 0 2,096
Amounts owed to Group undertakings 1,538 0
Amounts owed to director 0 51,998
Other creditors 22,746 11,315
Accruals 21,943 2,250
Corporation tax 15,500 22,750
Other taxation and social security 0 2,779
104,404 107,304

Bank loans of £42,677 are secured over the company's assets by way of a fixed and floating charge in favour of Lloyds bank.

6. Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans (secured) 676,706 138,748

Bank loans of £676,706 are secured over the company's assets by way of a fixed and floating charge in favour of Lloyds bank.

7. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
240 Ordinary shares of £ 1.00 each 240 240

8. Related party transactions

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.