Company registration number 01144927 (England and Wales)
HARFORD BRIDGE PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
HARFORD BRIDGE PARK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HARFORD BRIDGE PARK LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
971,926
947,729
Current assets
Stocks
80,209
40,415
Debtors
5
151,811
144,488
Cash at bank and in hand
136,988
119,985
369,008
304,888
Creditors: amounts falling due within one year
6
(417,979)
(366,487)
Net current liabilities
(48,971)
(61,599)
Total assets less current liabilities
922,955
886,130
Creditors: amounts falling due after more than one year
7
(116,469)
(136,114)
Provisions for liabilities
(66,723)
(61,554)
Net assets
739,763
688,462
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
739,663
688,362
Total equity
739,763
688,462

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HARFORD BRIDGE PARK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 July 2024 and are signed on its behalf by:
Mr P Williamson
Mr N Williamson
Director
Director
Mrs L Pattison
Director
HARFORD BRIDGE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Harford Bridge Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is Harford Bridge Holiday Park, Peter Tavy, Tavistock, Devon, United Kingdom, PL19 9LS.

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 £.

1.2
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses where cost includes expenditure that is directly attributable to bringing the asset to the location and condition for necessary use.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
4% per annum straight line, 5% per annum straight line or 10% per annum straight line
Plant and machinery
15% per annum reducing balance
Fixtures and fittings
20% per annum reducing balance
Motor vehicles
20% per annum reducing balance
Caravans, pods and tipis
10% per annum straight line

Freehold property is not depreciated as this consists mainly of the land held. As a consequence, any element of depreciation on freehold property would, in the opinion of the directors, be immaterial and therefore no provision has been made.

 

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

HARFORD BRIDGE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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 balance sheet date.

Deferred tax

Deferred tax liabilities are generally recognised for all material 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.

 

Timing differences arise from the inclusion of income and expenses in the tax assessment periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted of 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.

1.6
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.

1.7
Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

HARFORD BRIDGE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
10
HARFORD BRIDGE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Caravans, pods and tipis
Total
£
£
£
£
£
£
£
Cost
At 1 March 2023
473,477
358,593
365,576
54,109
8,145
274,705
1,534,605
Additions
1,857
-
0
10,966
20
-
0
89,698
102,541
Disposals
-
0
(17,185)
-
0
-
0
(1,650)
(23,062)
(41,897)
At 29 February 2024
475,334
341,408
376,542
54,129
6,495
341,341
1,595,249
Depreciation and impairment
At 1 March 2023
-
0
191,195
235,452
47,747
1,463
111,020
586,877
Depreciation charged in the year
-
0
24,282
20,397
777
1,309
28,296
75,061
Eliminated in respect of disposals
-
0
(17,185)
-
0
-
0
(1,301)
(20,129)
(38,615)
At 29 February 2024
-
0
198,292
255,849
48,524
1,471
119,187
623,323
Carrying amount
At 29 February 2024
475,334
143,116
120,693
5,605
5,024
222,154
971,926
At 28 February 2023
473,477
167,398
130,124
6,362
6,682
163,686
947,729
HARFORD BRIDGE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
104,354
87,690
Taxation and social security
-
0
13,948
Other debtors
47,457
42,850
151,811
144,488
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
39,519
37,150
Trade creditors
118,326
68,171
Taxation and social security
29,079
32,273
Other creditors
231,055
228,893
417,979
366,487

Included within other creditors are prepaid site fees and deposits received in advance of £203,481 (2023 - £199,026) that relate to the following season.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
91,039
126,575
Other creditors
25,430
9,539
116,469
136,114
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
20,032
8
Secured liabilities

Security in favour of Lloyds exists on all liabilities due to the bank.

 

Also included within other creditors are liabilities under finance leases totalling £46,074 (2023 - £30,168) which is secured over plant and machinery held in fixed assets.

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