Company registration number 04269385 (England and Wales)
ROCKINGHAM FOREST PARK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
ROCKINGHAM FOREST PARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
ROCKINGHAM FOREST PARK LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
5
9,348
14,021
Tangible assets
6
11,820,130
11,616,317
11,829,478
11,630,338
Current assets
Stocks
18,156
Debtors
7
308,476
271,190
Cash at bank and in hand
255,513
169,210
563,989
458,556
Creditors: amounts falling due within one year
8
(12,678,957)
(11,603,353)
Net current liabilities
(12,114,968)
(11,144,797)
Total assets less current liabilities
(285,490)
485,541
Creditors: amounts falling due after more than one year
9
(90,901)
Provisions for liabilities
10
(192,581)
(387,885)
Net (liabilities)/assets
(478,071)
6,755
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(478,171)
6,655
Total equity
(478,071)
6,755
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 April 2024 and are signed on its behalf by:
R V Mawhood
Director
Company Registration No. 04269385
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information
Rockingham Forest Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Sheraton House, Lower Road, Chorleywood, Hertfordshire, WD3 5LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future based on group support.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover from sale of goods represents:
- Amounts receivable from lodge lettings and other incidental sales is recognised within the time of arrival of the customer, and deferred income recognised for dates relating to lettings outside of the companies year end.
- Amounts received or receivable for farming and grazing provided.
1.4
Intangible fixed assets other than goodwill
Park Website and Software
20% straight line
1.5
Tangible fixed assets
The company has departed from the requirement to depreciate leasehold land additions in order to give a true and fair view.
The company occupies land owned by its parent company under a lease for which a nominal rent is paid and it is the intention of the parent to continue to renew the lease as it expires on similar terms for the foreseeable future. In order to show a true and fair view, infrastructure expenditure incurred by the company on that land, which is anticipated to have an indefinite life, is not depreciated.
Lodges and Buildings
4% straight line
Plant and Machinery
20% straight line
Fixtures, fittings & equipment
20% straight line
Motor Vehicles
25% straight line
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.7
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.
1.8
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Retirement benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
3
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,250
9,250
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
13
7
5
Intangible fixed assets
Park Website and Software
£
Cost
At 1 May 2022 and 30 April 2023
23,367
Amortisation and impairment
At 1 May 2022
9,346
Amortisation charged for the year
4,673
At 30 April 2023
14,019
Carrying amount
At 30 April 2023
9,348
At 30 April 2022
14,021
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2022
5,802,404
6,198,755
12,001,159
Additions
543,992
22,511
566,503
At 30 April 2023
6,346,396
6,221,266
12,567,662
Depreciation and impairment
At 1 May 2022
1,273
383,569
384,842
Depreciation charged in the year
362,690
362,690
At 30 April 2023
1,273
746,259
747,532
Carrying amount
At 30 April 2023
6,345,123
5,475,007
11,820,130
At 30 April 2022
5,801,131
5,815,186
11,616,317
The departure from the requirement to depreciate leasehold land (as per note 1.5) affects the results for the year by £1,042,280 (2022: £1,133,725), in respect of depreciation that would otherwise have been charged.
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,011
1,236
Other debtors
304,465
269,954
308,476
271,190
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
423,939
132,847
Amounts owed to group undertakings
8,655,145
7,196,437
Corporation tax
162
162
Other taxation and social security
5,737
Other creditors
3,593,974
4,273,907
12,678,957
11,603,353
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
90,901
10
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
994,182
841,777
Tax losses
(801,601)
(453,892)
192,581
387,885
2023
Movements in the year:
£
Liability at 1 May 2022
387,885
Credit to profit or loss
(195,304)
Liability at 30 April 2023
192,581
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Nicholas Corden ACA
Statutory Auditor:
Summers Morgan
Date of audit report:
12 April 2024
ROCKINGHAM FOREST PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
12
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
Within one year
50,000
50,000
Between two and five years
200,000
200,000
In over five years
50,000
250,000
300,000
13
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Grazing income
Rent & management fees payable
2023
2022
2023
2022
£
£
£
£
Group companies
24,555
40,555
116,667
100,000
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due to related parties
£
£
Other entities under common control
2,600,439
2,606,024
Group companies
8,227,146
7,196,437
14
Directors' transactions
At the balance sheet date the company owed £862,812 (2022: £1,290,812) to the directors of the company.
15
Ultimate controlling party
The company is a wholly owned subsidiary of M&R Bowman Limited, a company controlled by Mr R V Mawhood.
16
Non-audit services provided by auditor
In common with many businesses of our size and nature we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
2023-04-302022-05-01false12 April 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedR V MawhoodL J Ashton-JonesP Ashton-JonesMr Ian SharpeP Ashton-Jonesfalse042693852022-05-012023-04-30042693852023-04-30042693852022-04-3004269385core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-04-3004269385core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-04-3004269385core:LandBuildings2023-04-3004269385core:OtherPropertyPlantEquipment2023-04-3004269385core:LandBuildings2022-04-3004269385core:OtherPropertyPlantEquipment2022-04-3004269385core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004269385core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3004269385core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3004269385core:Non-currentFinancialInstrumentscore:AfterOneYear2022-04-3004269385core:ShareCapital2023-04-3004269385core:ShareCapital2022-04-3004269385core:RetainedEarningsAccumulatedLosses2023-04-3004269385core:RetainedEarningsAccumulatedLosses2022-04-3004269385bus:Director12022-05-012023-04-3004269385core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-05-012023-04-3004269385core:LandBuildingscore:LongLeaseholdAssets2022-05-012023-04-3004269385core:PlantMachinery2022-05-012023-04-3004269385core:FurnitureFittings2022-05-012023-04-3004269385core:MotorVehicles2022-05-012023-04-30042693852021-05-012022-04-3004269385core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-04-3004269385core:LandBuildings2022-04-3004269385core:OtherPropertyPlantEquipment2022-04-30042693852022-04-3004269385core:LandBuildings2022-05-012023-04-3004269385core:OtherPropertyPlantEquipment2022-05-012023-04-3004269385core:CurrentFinancialInstruments2023-04-3004269385core:CurrentFinancialInstruments2022-04-3004269385core:WithinOneYear2023-04-3004269385core:WithinOneYear2022-04-3004269385core:Non-currentFinancialInstruments2023-04-3004269385core:Non-currentFinancialInstruments2022-04-3004269385core:BetweenTwoFiveYears2023-04-3004269385core:BetweenTwoFiveYears2022-04-3004269385core:MoreThanFiveYears2023-04-3004269385core:MoreThanFiveYears2022-04-3004269385bus:PrivateLimitedCompanyLtd2022-05-012023-04-3004269385bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3004269385bus:FRS1022022-05-012023-04-3004269385bus:Audited2022-05-012023-04-3004269385bus:Director22022-05-012023-04-3004269385bus:Director32022-05-012023-04-3004269385bus:Director42022-05-012023-04-3004269385bus:CompanySecretary12022-05-012023-04-3004269385bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP