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REGISTERED NUMBER: 02788369 (England and Wales)















Springvale Mobile Home Park Ltd

Unaudited Financial Statements for the Year Ended 31 May 2023






Springvale Mobile Home Park Ltd (Registered number: 02788369)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Springvale Mobile Home Park Ltd

Company Information
for the Year Ended 31 May 2023







Directors: R P Stevenson
Mrs R E Stevenson
C Stevenson





Secretary: Mrs R E Stevenson





Registered office: Pockthorpe Loke
Barnham Broom
Norwich
Norfolk
NR9 4BF





Registered number: 02788369 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Springvale Mobile Home Park Ltd (Registered number: 02788369)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,183,910 1,200,212
Investments 5 426,358 387,593
1,610,268 1,587,805

Current assets
Stocks 2,691 3,016
Debtors 6 118,770 119,575
Cash at bank and in hand 461,897 476,259
583,358 598,850
Creditors
Amounts falling due within one year 7 210,566 190,210
Net current assets 372,792 408,640
Total assets less current liabilities 1,983,060 1,996,445

Provisions for liabilities 126,545 129,512
Net assets 1,856,515 1,866,933

Capital and reserves
Called up share capital 100 100
Other reserves 782,699 782,699
Retained earnings 1,073,716 1,084,134
Shareholders' funds 1,856,515 1,866,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Springvale Mobile Home Park Ltd (Registered number: 02788369)

Statement of Financial Position - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:





R P Stevenson - Director


Springvale Mobile Home Park Ltd (Registered number: 02788369)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

Springvale Mobile Home Park Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Springvale Mobile Home Park Ltd (Registered number: 02788369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

4. Tangible fixed assets
Caravans
Freehold Plant and and Motor
property machinery fittings Vehicles Totals
£    £    £    £    £   
Cost
At 1 June 2022
and 31 May 2023 1,135,000 96,989 211,411 10,500 1,453,900
Depreciation
At 1 June 2022 - 43,723 203,403 6,562 253,688
Charge for year - 13,317 2,000 985 16,302
At 31 May 2023 - 57,040 205,403 7,547 269,990
Net book value
At 31 May 2023 1,135,000 39,949 6,008 2,953 1,183,910
At 31 May 2022 1,135,000 53,266 8,008 3,938 1,200,212

The Directors feel that the cost plus any revaluation amount reflects the value of the Freehold property held on the balance sheet.

5. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 June 2022 387,593
Additions 93,905
Disposals (60,150 )
Revaluations 5,010
At 31 May 2023 426,358
Net book value
At 31 May 2023 426,358
At 31 May 2022 387,593

Springvale Mobile Home Park Ltd (Registered number: 02788369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. Fixed asset investments - continued

Cost or valuation at 31 May 2023 is represented by:

Other
investments
£   
Valuation in 2017 80,248
Valuation in 2018 (13,924 )
Valuation in 2019 4,684
Valuation in 2020 1,946
Valuation in 2021 25,485
Valuation in 2022 (11,923 )
Valuation in 2023 275
Cost 339,567
426,358

If the fixed asset investment had not been revalued they would have been included at the following historical cost:

31/5/23 31/5/22
£    £   
Cost 339,567 301,077

Fixed asset investments are valued on an open market basis on 31 May 2023 by Barratt & Cooke Stockbrokers .

6. Debtors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Other debtors 118,770 119,575

7. Creditors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Trade creditors 17,361 17,249
Taxation and social security 20,666 7,300
Other creditors 172,539 165,661
210,566 190,210