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Company No: 09690626 (England and Wales)

COASTHOLME HOLIDAY PARK LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

COASTHOLME HOLIDAY PARK LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

COASTHOLME HOLIDAY PARK LIMITED

BALANCE SHEET

As at 30 November 2023
COASTHOLME HOLIDAY PARK LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,565,199 1,569,237
1,565,199 1,569,237
Current assets
Stocks 4 11,932 19,182
Debtors 5 71,856 90,648
Cash at bank and in hand 90,963 25,745
174,751 135,575
Creditors: amounts falling due within one year 6 ( 778,730) ( 738,245)
Net current liabilities (603,979) (602,670)
Total assets less current liabilities 961,220 966,567
Creditors: amounts falling due after more than one year 7 ( 383,241) ( 397,656)
Provision for liabilities ( 39,376) ( 38,496)
Net assets 538,603 530,415
Capital and reserves
Called-up share capital 200 200
Fair value reserve 295,090 295,090
Profit and loss account 243,313 235,125
Total shareholders' funds 538,603 530,415

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Coastholme Holiday Park Limited (registered number: 09690626) were approved and authorised for issue by the Board of Directors on 24 April 2024. They were signed on its behalf by:

R J Berryman
Director
COASTHOLME HOLIDAY PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
COASTHOLME HOLIDAY PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Coastholme Holiday Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for pitch fees, holiday lettings, caravan sales and other services recharged in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes caravans purchased for resale and is calculated using the FIFO (first-in, first-out) method.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 December 2022 1,556,626 16,381 1,650 1,574,657
Disposals 0 ( 3,750) 0 ( 3,750)
At 30 November 2023 1,556,626 12,631 1,650 1,570,907
Accumulated depreciation
At 01 December 2022 0 4,615 805 5,420
Charge for the financial year 0 1,975 169 2,144
Disposals 0 ( 1,856) 0 ( 1,856)
At 30 November 2023 0 4,734 974 5,708
Net book value
At 30 November 2023 1,556,626 7,897 676 1,565,199
At 30 November 2022 1,556,626 11,766 845 1,569,237

Freehold and land and buildings were revalued to fair value at 30 November 2022. An independent valuer was not involved. The directors revalued the freehold land and buildings with reference to the market value of similar assets. At the balance sheet date freehold land and buildings had an historical cost of £1,209,412 (2022 - £1,209,412).

4. Stocks

2023 2022
£ £
Stocks 11,932 19,182

5. Debtors

2023 2022
£ £
Trade debtors 67,028 76,401
Corporation tax 0 7,412
Other debtors 4,828 6,835
71,856 90,648

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 17,733 20,315
Trade creditors 16,578 15,881
Other taxation and social security 22,508 16,994
Other creditors 721,911 685,055
778,730 738,245

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 383,241 397,656

The bank loans are secured against the assets of the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (secured) 295,408 300,998