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REGISTERED NUMBER: 05085690 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ULWELL PARK LIMITED

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ULWELL PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: K J Orchard
Mrs J M Scadden





SECRETARIES: Mrs J M Scadden
J W L Orchard





REGISTERED OFFICE: Ulwell Cottage Caravan Park
Ulwell
Swanage
Dorset
BH19 3DG





REGISTERED NUMBER: 05085690 (England and Wales)





ACCOUNTANTS: Chorus Accounting Limited
9a & 10a Saxon Square
Christchurch
Dorset
BH23 1QA

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,403,368 2,169,392

CURRENT ASSETS
Stocks 225,455 43,113
Debtors 5 733,676 888,463
Cash at bank and in hand 1,254,447 1,427,307
2,213,578 2,358,883
CREDITORS
Amounts falling due within one year 6 (1,917,509 ) (2,003,862 )
NET CURRENT ASSETS 296,069 355,021
TOTAL ASSETS LESS CURRENT LIABILITIES 2,699,437 2,524,413

CREDITORS
Amounts falling due after more than one
year

7

(932,168

)

(1,007,618

)

PROVISIONS FOR LIABILITIES (171,535 ) (138,794 )
NET ASSETS 1,595,734 1,378,001

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 1,593,734 1,376,001
1,595,734 1,378,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

BALANCE SHEET - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





K J Orchard - Director


ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Ulwell Park Limited 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment of non-current assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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).. 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.

Recoverable amount is the higher of fair value less costs to sell and 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.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.
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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or
cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the
increased carrying amount does not exceed the carrying amount that would have been determined had no
impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a
revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 statement of financial position 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.

Basic financial assets
Basic financial assets, which include trade and other receivables 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.

Classification of financial liabilities
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 ail of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, 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 payables 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 [ess. if not, they are presented as non-current liabilities. Trade payables are recognised initially
at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 25 ) .

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 1,497,949 1,605,000 3,102,949
Additions 106,620 351,125 457,745
Disposals - (104,289 ) (104,289 )
At 28 February 2023 1,604,569 1,851,836 3,456,405
DEPRECIATION
At 1 March 2022 84,855 848,702 933,557
Charge for year 19,163 169,725 188,888
Eliminated on disposal - (69,408 ) (69,408 )
At 28 February 2023 104,018 949,019 1,053,037
NET BOOK VALUE
At 28 February 2023 1,500,551 902,817 2,403,368
At 28 February 2022 1,413,094 756,298 2,169,392

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 40,717
DEPRECIATION
At 1 March 2022 22,055
Charge for year 5,249
At 28 February 2023 27,304
NET BOOK VALUE
At 28 February 2023 13,413
At 28 February 2022 18,662

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 704,556 872,654
Other debtors 29,120 15,809
733,676 888,463

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 75,675 75,901
Hire purchase contracts - 11,168
Payments on account 2,483 221
Trade creditors 237,040 134,878
Taxation and social security 94,937 235,810
Other creditors 1,507,374 1,545,884
1,917,509 2,003,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 932,168 1,007,618

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,007,843 1,083,519
Hire purchase contracts - 11,168
1,007,843 1,094,687

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 28 February 2023 the company owed one of the directors £2,096 (2022: £5,572) on loan account,
the company owed a different director £1,489 (2022: £803) on loan account and the company owed a
shareholder £326 (2022: £9,326) on loan account.

Remuneration paid to the directors during the year was £70,440 (2022: £62,700).

The loans are interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £140,000 (2022 - £90,000) were paid to the directors .

ULWELL PARK LIMITED (REGISTERED NUMBER: 05085690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. RELATED PARTY DISCLOSURES - continued

Services provided Services received
2023 2022 2023 2022
£ £ £ £

Key management personnel 65,565 5,902 37,050 35,400

65,565 5,902 37,050 35,400

The directors and shareholders pay the company ground rent and utilities for the use of the park for private
caravans,

The company receives consultancy and accounting services from a related party.

The following amounts ware outstanding at the reporting end date:

2032 2022
£ £

Key management personnel (668) 24,052

(668) 6,230