Company Registration No. 07403109 (England and Wales)
TYDDYN MORTHWYL CARAVAN PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
TYDDYN MORTHWYL CARAVAN PARK LIMITED
COMPANY INFORMATION
Directors
Mr J.R. Meldrum
Mrs C.J. Meldrum
Company number
07403109
Registered office
Triangle Wood Caravan Park
Tyn y Morfa
Gwespyr
Holywell
Flintshire
CH8 9NH
Accountants
Gareth Hughes & Company Limited
The Round House
Glan-y-Mor Road
Llandudno Junction
Conwy
LL31 9SN
Business address
Tyddyn Morthwyl Caravan Park
Criccieth
Gwynedd
LL52 0NF
TYDDYN MORTHWYL CARAVAN PARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TYDDYN MORTHWYL CARAVAN PARK LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
353,463
328,485
Current assets
Stocks
64,379
23,000
Debtors
4
38,478
28,159
Cash at bank and in hand
16,685
58,979
119,542
110,138
Creditors: amounts falling due within one year
5
(341,973)
(278,387)
Net current liabilities
(222,431)
(168,249)
Net assets
131,032
160,236
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
130,932
160,136
Total equity
131,032
160,236
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 November 2023 and are signed on its behalf by:
Mrs C.J. Meldrum
Director
Company Registration No. 07403109
TYDDYN MORTHWYL CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Tyddyn Morthwyl Caravan Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is Triangle Wood Caravan Park, Tyn y Morfa, Gwespyr, Holywell, Flintshire, CH8 9NH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable from pitch fees, sale of caravans, commissions and utilities recharged net of VAT
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
25 Years Straight Line Basis
Plant and machinery
25% Reducing Balance
Motor vehicles
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.
1.4
Stocks
Stock is valued at the lower of cost and net realisable value.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
TYDDYN MORTHWYL CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
381,139
49,291
430,430
Additions
35,841
10,065
45,906
At 31 March 2023
416,980
59,356
476,336
Depreciation and impairment
At 1 April 2022
64,832
37,113
101,945
Depreciation charged in the year
16,680
4,248
20,928
At 31 March 2023
81,512
41,361
122,873
Carrying amount
At 31 March 2023
335,468
17,995
353,463
At 31 March 2022
316,307
12,178
328,485
TYDDYN MORTHWYL CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
24,936
15,502
Other debtors
13,542
12,657
38,478
28,159
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
51,275
(5,475)
Taxation and social security
13,300
Other creditors
290,698
270,562
341,973
278,387
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions
During the period under consideration the company received management support and services from Mrs C. Meldrum's sole trader business. A charge of £5,000 (2022 - £5,000) was made to the company in respect of this management support and service.