Silverfin false 31/10/2022 01/10/2021 31/10/2022 J F Muir 11/09/2020 J A H Muir 30/11/2021 W Muir 30/11/2021 D Peach 12/09/2022 30/11/2021 24 October 2023 The principal activity of the company during the financial year was that of a caravan park and the rental of property. SC674033 2022-10-31 SC674033 bus:Director1 2022-10-31 SC674033 bus:Director2 2022-10-31 SC674033 bus:Director3 2022-10-31 SC674033 bus:Director4 2022-10-31 SC674033 2021-09-30 SC674033 core:CurrentFinancialInstruments 2022-10-31 SC674033 core:CurrentFinancialInstruments 2021-09-30 SC674033 core:ShareCapital 2022-10-31 SC674033 core:ShareCapital 2021-09-30 SC674033 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC674033 core:RetainedEarningsAccumulatedLosses 2021-09-30 SC674033 core:LandBuildings 2021-09-30 SC674033 core:OtherPropertyPlantEquipment 2021-09-30 SC674033 core:LandBuildings 2022-10-31 SC674033 core:OtherPropertyPlantEquipment 2022-10-31 SC674033 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-10-31 SC674033 core:RemainingRelatedParties core:CurrentFinancialInstruments 2021-09-30 SC674033 bus:OrdinaryShareClass1 2022-10-31 SC674033 2021-10-01 2022-10-31 SC674033 bus:FullAccounts 2021-10-01 2022-10-31 SC674033 bus:SmallEntities 2021-10-01 2022-10-31 SC674033 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-10-31 SC674033 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-10-31 SC674033 bus:Director1 2021-10-01 2022-10-31 SC674033 bus:Director2 2021-10-01 2022-10-31 SC674033 bus:Director3 2021-10-01 2022-10-31 SC674033 bus:Director4 2021-10-01 2022-10-31 SC674033 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-10-01 2022-10-31 SC674033 core:OtherPropertyPlantEquipment 2021-10-01 2022-10-31 SC674033 2020-10-01 2021-09-30 SC674033 core:LandBuildings 2021-10-01 2022-10-31 SC674033 bus:OrdinaryShareClass1 2021-10-01 2022-10-31 SC674033 bus:OrdinaryShareClass1 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC674033 (Scotland)

BLAIR DRUMMOND CARAVAN PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2021 TO 31 OCTOBER 2022
PAGES FOR FILING WITH THE REGISTRAR

BLAIR DRUMMOND CARAVAN PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2021 TO 31 OCTOBER 2022

Contents

BLAIR DRUMMOND CARAVAN PARK LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2022
BLAIR DRUMMOND CARAVAN PARK LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2022
Note 31.10.2022 30.09.2021
£ £
Fixed assets
Tangible assets 3 874,876 0
874,876 0
Current assets
Stocks 4 2,081 0
Debtors 5 1,739 1
Cash at bank and in hand 6 39,279 0
43,099 1
Creditors: amounts falling due within one year 7 ( 56,169) 0
Net current (liabilities)/assets (13,070) 1
Total assets less current liabilities 861,806 1
Provision for liabilities 8 ( 92,084) 0
Net assets 769,722 1
Capital and reserves
Called-up share capital 9 858,685 1
Profit and loss account ( 88,963 ) 0
Total shareholder's funds 769,722 1

For the financial period ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blair Drummond Caravan Park Limited (registered number: SC674033) were approved and authorised for issue by the Director on 24 October 2023. They were signed on its behalf by:

J F Muir
Director
BLAIR DRUMMOND CARAVAN PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2021 TO 31 OCTOBER 2022
BLAIR DRUMMOND CARAVAN PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2021 TO 31 OCTOBER 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blair Drummond Caravan 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 Scotland. The address of the Company's registered office is C/O Scottish African Safari Park Ltd, Blair Drummond, Stirling, FK9 4UR, United Kingdom.

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.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length of these accounts is 13 months.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 not depreciated
Plant and machinery etc. 4 years straight line
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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.10.2021 to
31.10.2022
Year ended
30.09.2021
Number Number
Monthly average number of persons employed by the Company during the period, including directors 8 1

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2021 0 0 0
Additions 800,000 99,146 899,146
At 31 October 2022 800,000 99,146 899,146
Accumulated depreciation
At 01 October 2021 0 0 0
Charge for the financial period 0 24,270 24,270
At 31 October 2022 0 24,270 24,270
Net book value
At 31 October 2022 800,000 74,876 874,876
At 30 September 2021 0 0 0

4. Stocks

31.10.2022 30.09.2021
£ £
Stocks 2,081 0

5. Debtors

31.10.2022 30.09.2021
£ £
Trade debtors 1,331 0
Other debtors 408 1
1,739 1

6. Cash and cash equivalents

31.10.2022 30.09.2021
£ £
Cash at bank and in hand 39,279 0

7. Creditors: amounts falling due within one year

31.10.2022 30.09.2021
£ £
Trade creditors 3,788 0
Amounts owed to related parties 19,058 0
Other taxation and social security 5,736 0
Other creditors 27,587 0
56,169 0

8. Provision for liabilities

31.10.2022 30.09.2021
£ £
Deferred tax 92,084 0

9. Called-up share capital

31.10.2022 30.09.2021
£ £
Allotted, called-up and fully-paid
858,685 Ordinary shares of £ 1.00 each (30.09.2021: nil shares) 858,685 0

10. Related party transactions

Other related party transactions

31.10.2022 30.09.2021
£ £
Amounts owed to related parties 19,058 0

Exceptional Item: Related Party Transaction: “Scheme of Reconstruction:”

i) 4 November 2021: Blair Drummond Farms Limited entered into a “Scheme of Reconstruction” [specifically an Indirect Capital Reduction Demerger] with Blair Drummond Caravan Park Limited and James Francis Muir (the Sole Shareholder of both Companies), implemented with the following Steps:

-Cancellation of “B” Shares by Blair Drummond Farms Limited (held solely by James Francis Muir);

-Transfer of the Caravan Park Business Division (and associated assets) from Blair Drummond Farms Limited to Blair Drummond Caravan Park Limited (sole Shareholder James Francis Muir);

-Issue of Ordinary Non Redeemable Shares by Blair Drummond Caravan Park Limited to James Francis Muir.

ii) Prior written HMRC agreement was requested and obtained that this Scheme of Reconstruction is intended for bona fide commercial reasons, and not for the avoidance of Corporation Tax or individual Shareholder Income and Capital Gains Tax.

On this basis, in principle the transactions occur at “no gain, no loss,” for Corporation Tax and Shareholder Income and Capital Gains Tax.

iii) In the course of preparing Annual Accounts, it was brought to the Directors’ attention that there was an arithmetical drafting error in the nominal shares documentation. This is now being corrected by the Companies’ legal advisor. Accounts have been prepared on this corrected basis.