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REGISTERED NUMBER: 00674872 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PORTH BEACH TOURIST PARK LIMITED

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PORTH BEACH TOURIST PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R May
Mrs R J May
T M May



SECRETARY: R May



REGISTERED OFFICE: Porth Beach Tourist Park
Alexandra Road
Porth
Newquay
Cornwall
TR7 3NH



REGISTERED NUMBER: 00674872 (England and Wales)



ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD



BANKERS: HSBC Bank Plc
17 Boscawen Street
Truro
Cornwall
TR1 2QZ

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,132,698 1,200,499

CURRENT ASSETS
Stocks 5,391 4,316
Debtors 5 9,249 10,995
Cash at bank and in hand 884,326 744,345
898,966 759,656
CREDITORS
Amounts falling due within one year 6 531,196 429,611
NET CURRENT ASSETS 367,770 330,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,500,468

1,530,544

CREDITORS
Amounts falling due after more than one
year

7

(3,022

)

(51,220

)

PROVISIONS FOR LIABILITIES (99,030 ) (96,434 )
NET ASSETS 1,398,416 1,382,890

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,397,416 1,381,890
SHAREHOLDERS' FUNDS 1,398,416 1,382,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 5 March 2024 and were signed on its behalf by:





R May - Director


PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Porth Beach Tourist 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 comprises the value of accommodation and services provided, together with that of ancilliary goods supplied by the company, net of Value Added Tax.

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.
Freehold property - not provided
Caravans - 10% on cost
Fixtures & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Caravan soft furnishings - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

Freehold property
No depreciation is provided on freehold property at the Balance Sheet date. It is the company's practice to maintain these assets in a continual state of sound repair and, accordingly, the directors consider that the residual value of these assets is such that their depreciation is insignificant.


Caravans
Caravans purchased under finance lease agreements are written down to their estimated residual values, in accordance with the above policy on hire purchase and leasing commitments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
property Caravans & equipment
£    £    £   
COST
At 1 November 2022 692,957 623,203 245,759
Additions - - 7,770
At 31 October 2023 692,957 623,203 253,529
DEPRECIATION
At 1 November 2022 - 190,119 185,844
Charge for year - 61,869 10,152
At 31 October 2023 - 251,988 195,996
NET BOOK VALUE
At 31 October 2023 692,957 371,215 57,533
At 31 October 2022 692,957 433,084 59,915

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS - continued

Caravan
Motor soft
vehicles furnishings Totals
£    £    £   
COST
At 1 November 2022 24,345 6,188 1,592,452
Additions - - 7,770
At 31 October 2023 24,345 6,188 1,600,222
DEPRECIATION
At 1 November 2022 10,651 5,339 391,953
Charge for year 3,423 127 75,571
At 31 October 2023 14,074 5,466 467,524
NET BOOK VALUE
At 31 October 2023 10,271 722 1,132,698
At 31 October 2022 13,694 849 1,200,499

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Caravans & equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 525,535 13,250 538,785
DEPRECIATION
At 1 November 2022 157,661 3,677 161,338
Charge for year 52,553 1,436 53,989
At 31 October 2023 210,214 5,113 215,327
NET BOOK VALUE
At 31 October 2023 315,321 8,137 323,458
At 31 October 2022 367,874 9,573 377,447

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Prepayments and accrued income 9,249 10,995

PORTH BEACH TOURIST PARK LIMITED (REGISTERED NUMBER: 00674872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 48,198 47,998
Trade creditors 40,806 51,235
Corporation tax 112,052 126,879
Social security and other taxes 3,728 (75 )
VAT 32,993 31,539
Other creditors 127,800 -
Directors' loan accounts 147,878 147,878
Accruals and deferred income 17,741 24,157
531,196 429,611

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 3,022 51,220

8. ULTIMATE CONTROLLING PARTY

The controlling party is R May.

During the year the company was controlled by Mr R May by virtue of the fact that he owed 49.9% of the issued ordinary shares in his own right, but also had an interest as a trustee in the 426 shares owed by the trustees of the Rosemary May No. 1 Discretionary Settlement 2010.