Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31holiday lodge park2022-01-01false22truetrue 10380258 2022-01-01 2022-12-31 10380258 2021-01-01 2021-12-31 10380258 2022-12-31 10380258 2021-12-31 10380258 2021-01-01 10380258 c:Director2 2022-01-01 2022-12-31 10380258 d:Buildings 2022-01-01 2022-12-31 10380258 d:Buildings 2022-12-31 10380258 d:Buildings 2021-12-31 10380258 d:Buildings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:Buildings d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:PlantMachinery 2022-01-01 2022-12-31 10380258 d:PlantMachinery 2022-12-31 10380258 d:PlantMachinery 2021-12-31 10380258 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:MotorVehicles 2022-01-01 2022-12-31 10380258 d:MotorVehicles 2022-12-31 10380258 d:MotorVehicles 2021-12-31 10380258 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:FurnitureFittings 2022-01-01 2022-12-31 10380258 d:FurnitureFittings 2022-12-31 10380258 d:FurnitureFittings 2021-12-31 10380258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:OfficeEquipment 2022-01-01 2022-12-31 10380258 d:OfficeEquipment 2022-12-31 10380258 d:OfficeEquipment 2021-12-31 10380258 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10380258 d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 10380258 d:CurrentFinancialInstruments 2022-12-31 10380258 d:CurrentFinancialInstruments 2021-12-31 10380258 d:Non-currentFinancialInstruments 2022-12-31 10380258 d:Non-currentFinancialInstruments 2021-12-31 10380258 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10380258 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10380258 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10380258 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10380258 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10380258 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 10380258 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10380258 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 10380258 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 10380258 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 10380258 d:ShareCapital 2022-12-31 10380258 d:ShareCapital 2021-12-31 10380258 d:RevaluationReserve 2022-12-31 10380258 d:RevaluationReserve 2021-12-31 10380258 d:RetainedEarningsAccumulatedLosses 2022-12-31 10380258 d:RetainedEarningsAccumulatedLosses 2021-12-31 10380258 c:OrdinaryShareClass1 2022-01-01 2022-12-31 10380258 c:OrdinaryShareClass1 2022-12-31 10380258 c:OrdinaryShareClass1 2021-12-31 10380258 c:FRS102 2022-01-01 2022-12-31 10380258 c:Audited 2022-01-01 2022-12-31 10380258 c:FullAccounts 2022-01-01 2022-12-31 10380258 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10380258 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 10380258 2 2022-01-01 2022-12-31 10380258 5 2022-01-01 2022-12-31 10380258 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 10380258 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 10380258 d:OtherDeferredTax 2022-12-31 10380258 d:OtherDeferredTax 2021-12-31 10380258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 10380258 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10380258









MALTON GRANGE LODGES LTD

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022


 
MALTON GRANGE LODGES LTD
REGISTERED NUMBER: 10380258

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,601,071
3,548,139

  
3,601,071
3,548,139

Current assets
  

Stocks
 5 
99,606
151,808

Debtors: amounts falling due within one year
 6 
972,047
584,331

Cash at bank and in hand
  
576,418
276,555

  
1,648,071
1,012,694

Creditors: amounts falling due within one year
 7 
(817,013)
(701,084)

Net current assets
  
 
 
831,058
 
 
311,610

Total assets less current liabilities
  
4,432,129
3,859,749

Creditors: amounts falling due after more than one year
 8 
(467,491)
(509,752)

Provisions for liabilities
  

Deferred tax
 10 
(432,683)
(447,066)

  
 
 
(432,683)
 
 
(447,066)

Net assets
  
3,531,955
2,902,931


Capital and reserves
  

Called up share capital 
 11 
1
1

Revaluation reserve
  
1,285,197
1,303,947

Profit and loss account
  
2,246,757
1,598,983

  
3,531,955
2,902,931


Page 1

 
MALTON GRANGE LODGES LTD
REGISTERED NUMBER: 10380258

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr M W Knowles
Director

Date: 31 January 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Malton Grange Lodges Ltd is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is C/O Prestige Country Parks Melbourne Road, Allerthorpe, York, Yorkshire, United Kingdom, YO42 4RL. The principal activity of the Company continued to be that of a holiday lodge park. 
This Company is part of the Prestige Country Parks Limited Group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading, by the Company and the group, for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Site Fees, Commission and Other Income
Site fees are recognised on an accruals basis in the period to which they relate.
Sales of Holiday Lodges & caravans
Sales of holiday lodges are recognised when the risks and rewards of ownership are transferred to
the customer, usually on occupation when the licence agreement is signed or legal completion takes
place.
.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Corporation and deferred taxation

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% straight line
Office equipment
-
25% straight line

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Stock

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an
impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 6

 


 
MALTON GRANGE LODGES LTD


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


4.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2022
3,400,001
144,840
35,050
5,219
4,907
3,590,017


Additions
-
3,500
142,329
414
931
147,174


Disposals
-
-
(31,450)
-
-
(31,450)


Revaluations
(25,000)
-
-
-
-
(25,000)



At 31 December 2022

3,375,001
148,340
145,929
5,633
5,838
3,680,741



Depreciation


At 1 January 2022
-
30,670
4,678
4,690
1,840
41,878


Charge for the year on owned assets
-
18,749
10,829
239
1,248
31,065


Charge for the year on financed assets
-
8,300
-
-
-
8,300


Disposals
-
-
(1,573)
-
-
(1,573)



At 31 December 2022

-
57,719
13,934
4,929
3,088
79,670



Net book value



At 31 December 2022
3,375,001
90,621
131,995
704
2,750
3,601,071



At 31 December 2021
3,400,001
114,170
30,372
529
3,067
3,548,139

Page 7

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Plant and machinery
22,825
31,125

Cost or valuation at 31 December 2022 is as follows:

Land and buildings
£


At cost
1,678,922
At valuation:

April 2022
1,696,079



3,375,001

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2022
2021
£
£


Cost
1,678,922
1,678,922

The property was professionally revalued by Avison Young in April 2022.


5.


Stock and work in progress

2022
2021
£
£

Raw materials and consumables
99,606
146,666

Work in progress
-
5,142

99,606
151,808


Page 8

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Debtors

2022
2021
£
£

Trade debtors
105,874
69,118

Amounts owed by group undertakings
748,200
433,258

Other debtors
60,519
5,987

Prepayments and accrued income
57,454
75,968

972,047
584,331



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
42,309
40,001

Trade creditors
30,929
105,257

Amounts owed to group undertakings
169,420
139,778

Corporation tax
264,525
166,685

Other taxation and social security
81,722
68,895

Obligations under finance lease and hire purchase contracts
7,357
7,129

Accruals and deferred income
220,751
173,339

817,013
701,084



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
452,752
487,657

Net obligations under finance leases and hire purchase contracts
14,739
22,095

467,491
509,752


Included within creditors are secured debts amounting to £517,157 (2021 - £556,882) which are secured
on the fixed assets to which they relate.
Included within creditors are bounce back loans which are not secured on company assets.

Page 9

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
42,309
40,001

Amounts falling due 1-2 years

Bank loans
43,762
38,563

Amounts falling due 2-5 years

Bank loans
153,647
138,826

Amounts falling due after more than 5 years

Bank loans
255,343
310,268

495,061
527,658


Page 10

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Deferred taxation




2022
2021


£

£






At beginning of year
(447,066)
(64,384)


Charged to profit or loss
8,133
(20,222)


Charged to other comprehensive income
6,250
(362,460)



At end of year
(432,683)
(447,066)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(21,801)
(29,934)

Deferred tax on freehold property
(410,882)
(417,132)

(432,683)
(447,066)


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1 (2021 - 1) Ordinary share of £1.00
1
1



12.


Contingent liabilities

The Company has given a guarantee in respect of bank borrowings of its parent company which amount to £4,153,175 at 31 December 2022 (2021 - £3,047,724). The guarantee is secured by a fixed and floating charge on the company assets.

Page 11

 
MALTON GRANGE LODGES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

13.


Related party transactions

During the year the Company entered into an intercompany loans with fellow group companies. The balances are interest free and repayable on demand and shown within debtors and creditors. The balance of the intercompany loan at the year end is £578,780 (2021 - £293,480).
During the year the Company paid management charges of £92,022 (2021 - £82,097) to a fellow subsidiary company, Allerthorpe Golf and Country Park Limited.
During the year the Company entered into a loans with directors. The balances are interest free and repayable on demand and shown within debtors. The balance of the loans at the year end is £Nil (2021 - £182). 
During the year the Company entered into a loans with family members. The balances are interest free and repayable on demand and shown within debtors. The balance of the loans at the year end is £57,841 (2021 - £3,129).


14.


Controlling party

The parent company at the year end was Prestige Country Parks Limited by virtue of its 100% shareholding.
The Ultimate Controlling Parties are Mrs J A Knowles and Mr M W Knowles by virtue of their 100% shareholding in Prestige Country Parks Limited.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was qualified.

The qualification in the audit report was as follows:
We were appointed as auditors of the group on 10 September 2023 and thus did not observe the counting of the physical inventories at 31 December 2021 or 31 December 2022. For the year ended 31 December 2022 we were able to satisfy ourselves as to the stock figure of £99,606 by alternative means however we were unable to satisfy ourselves by alternative means concerning stock quantities held at 31 December 2021 of £151,808.
Since stock enters into the determination of financial performance we were unable to determine whether adjustments might have been necessary in respect of the profit for the year reported in the Statement of Comprehensive Income.  
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

The audit report was signed on 1 February 2024 by Martin Williams ACA (Senior Statutory Auditor) on behalf of George Hay Partnership LLP.


Page 12