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Registered number: 13938842









VALE OF YORK COUNTRY PARK LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
VALE OF YORK COUNTRY PARK LIMITED
REGISTERED NUMBER: 13938842

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note
£

Fixed assets
  

Tangible assets
 4 
4,172,103

  
4,172,103

Current assets
  

Stocks
  
416,744

Debtors: amounts falling due within one year
 5 
229,416

Cash at bank and in hand
  
40,505

  
686,665

Creditors: amounts falling due within one year
 6 
(2,728,320)

Net current (liabilities)/assets
  
 
 
(2,041,655)

Total assets less current liabilities
  
2,130,448

Creditors: amounts falling due after more than one year
 7 
(2,102,525)

Provisions for liabilities
  

Deferred tax
  
(367)

  
 
 
(367)

Net assets
  
27,556


Capital and reserves
  

Called up share capital 
 10 
100

Profit and loss account
  
27,456

  
27,556


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 income and retained earnings 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
Page 1

 
VALE OF YORK COUNTRY PARK LIMITED
REGISTERED NUMBER: 13938842

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

Director

Date: 31 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

1.


General information

Vale of York Counry Park Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdon. The address of the registered office is C/O Prestige Country Parks Melbourne Road, Allerthorpe, York, Yorkshire, United Kingdom, YO42 4RL. The principle activity of the company is that of a residential and holiday 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 continued group support. The Directors are confident that the group has the intention and ability to provide the support required.
The financial statements do not include any adjustments that would be result from the withdrawal of this support.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Site FeesHire FleetPitch Fees, Commissions & Recharge of expenses
Site Fees, Hire Fleet, Pitch Fees, Commissions & Recharge of expenses are recognised on an accruals basis in the period to which they relate.
Sales of Holiday Lodges
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

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.

Page 3

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current 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

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property and land
-
not depreciatied
Plant and machinery
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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.

 
2.7

Stocks

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.

 
2.8

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.

 
2.9

Cash and cash equivalents

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.

 
2.10

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.

Page 5

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

2.Accounting policies (continued)

 
2.11

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 Income and Retained Earnings.


3.


Employees

Period ended
31 December
2022
£

Wages and salaries
29,400

29,400


The average monthly number of employees, including directors, during the period was 2.


4.


Tangible fixed assets





Freehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


Additions
4,170,169
1,600
425
4,172,194



At 31 December 2022

4,170,169
1,600
425
4,172,194



Depreciation


Charge for the period on owned assets
-
80
11
91



At 31 December 2022

-
80
11
91



Net book value



At 31 December 2022
4,170,169
1,520
414
4,172,103

Page 6

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

5.


Debtors

2022
£


Trade debtors
153,340

Amounts owed by group undertakings
1,251

Other debtors
574

Prepayments and accrued income
74,251

229,416



6.


Creditors: Amounts falling due within one year

2022
£

Bank loans
100,425

Trade creditors
19,003

Amounts owed to group undertakings
2,388,662

Corporation tax
5,967

Other creditors
20,000

Accruals and deferred income
194,263

2,728,320



7.


Creditors: Amounts falling due after more than one year

2022
£

Bank loans
2,102,525


Included within creditors are secured debts amounting to £2,202,950 which are secured by a fixed and floating charge over the assets of the company, over the assets of Vale of York Country Park Limited, and a cross-company guarantee from the group.

Page 7

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

8.


Loans


Analysis of the maturity of loans is given below:


2022
£

Amounts falling due within one year

Bank loans
100,425

Amounts falling due 1-2 years

Bank loans
115,428

Amounts falling due 2-5 years

Bank loans
386,526

Amounts falling due after more than 5 years

Bank loans
1,600,572

2,202,951



9.


Deferred taxation



2022


£






Charged to profit or loss
(367)



At end of year
(367)

The deferred taxation balance is made up as follows:

2022
£


Accelerated capital allowances
(367)


10.


Share capital

2022
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the year 100 Ordinary shares were issued and paid at par for cash consideration.

Page 8

 
VALE OF YORK COUNTRY PARK LIMITED
 

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

11.


Related party transactions

During the period the Company operated intercompany loans with its parent and fellow subsidiaries. The net balance due from the Company as at the year end was £2,387,411. The balances are unsecured, interest free and repayable on demand.
During the year the Company paid management charges to group companies totalling £29,400, the charges were made on a commercial basis.


12.


Controlling party

The parent company of the Company is Prestige Country Parks Limited by virtue of its 100% shareholding in Vale of York Country Park Limited.
The Ultimate Controlling Parties are Mr M Knowles and Mrs J Knowles by virtue of their joint shareholding in Prestige Country Parks Limited.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 1 February 2024 by R C Dilley FCA FCCA (Senior Statutory Auditor) on behalf of George Hay Partnership LLP.


Page 9