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Registration number: 04716801

Cambria Caravan Park Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Cambria Caravan Park Ltd

Contents

Company Information

1

Statement of Comprehensive Income

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Cambria Caravan Park Ltd

Company Information

Director

Mrs Toni Mayne

Registered office

Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

Accountants

Aston Hughes & Co
Chartered Accountants
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

 

Cambria Caravan Park Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

102,968

54,945

Total comprehensive income for the year

102,968

54,945

 

Cambria Caravan Park Ltd

(Registration number: 04716801)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,036,885

3,037,418

Current assets

 

Stocks

5

71,500

17,750

Debtors

6

2,651,519

2,725,370

Cash at bank and in hand

 

129,763

88,096

 

2,852,782

2,831,216

Creditors: Amounts falling due within one year

7

(1,628,541)

(1,652,449)

Net current assets

 

1,224,241

1,178,767

Total assets less current liabilities

 

4,261,126

4,216,185

Creditors: Amounts falling due after more than one year

7

(1,054,225)

(1,102,251)

Provisions for liabilities

(316,286)

(316,286)

Net assets

 

2,890,615

2,797,648

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

1,346,230

1,346,230

Retained earnings

1,544,285

1,451,318

Shareholders' funds

 

2,890,615

2,797,648

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2024
 

 

Cambria Caravan Park Ltd

(Registration number: 04716801)
Balance Sheet as at 31 March 2024

.........................................
Mrs Toni Mayne
Director

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

These financial statements were authorised for issue by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Changes in accounting policy

The following have been applied for the first time from 1 April 2023 and have had an effect on the financial statements:

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses, with ethe exception of land and buildings which are included at valuation.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Straight line

Freehold property

2% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,912,503

3,250

375,581

3,291,334

Additions

-

-

28,000

28,000

Disposals

-

-

(4,000)

(4,000)

At 31 March 2024

2,912,503

3,250

399,581

3,315,334

Depreciation

At 1 April 2023

45,658

1,192

207,066

253,916

Charge for the year

4,323

650

20,160

25,133

Eliminated on disposal

-

-

(600)

(600)

At 31 March 2024

49,981

1,842

226,626

278,449

Carrying amount

At 31 March 2024

2,862,522

1,408

172,955

3,036,885

At 31 March 2023

2,866,845

2,058

168,515

3,037,418

Included within the net book value of land and buildings above is £2,862,522 (2023 - £2,866,845) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Land and buildings was revalued on 1 July 2020 by an independent valuer.
Valuation has been prepared in accordance with the RICS Valuation - Global Standards (January 2020) and the IVSC International Valuation Standards (IVS). The name and qualification of the independent valuer are Sanderson Weatherall LLP.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2023 - £1,080,310).

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Other inventories

71,500

17,750

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

17,571

15,115

Amounts owed by related parties

11

2,616,647

2,686,001

Prepayments

 

9,821

7,922

Other debtors

 

7,480

16,332

   

2,651,519

2,725,370

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

55,551

62,364

Trade creditors

 

7,495

5,865

Taxation and social security

 

49,664

14,852

Accruals and deferred income

 

4,620

7,900

Other creditors

 

1,511,211

1,561,468

 

1,628,541

1,652,449

Bank loans and overdrafts of £50,141 (2023 - £57,068) are secured against the assets of the company.

Other creditors includes 2024; £978,500 (2023; £986,000) to the controlling shareholder, no interest is charged.

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

1,054,225

1,102,251

2024
£

2023
£

Due after more than five years

After more than five years by instalments

855,163

877,309

-

-

Bank loans and overdrafts of £1,054,225 (2023 - £1,060,212) are secured against the assets of the company.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Reserves

Deferred tax has been recognised on the revalued amount and charged to the revaluation reserve at the current rate of corporation tax.

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

1,054,225

1,102,251

2024
£

2023
£

Current loans and borrowings

Bank borrowings

26,692

30,004

Other borrowings

28,859

32,360

55,551

62,364

 

Cambria Caravan Park Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Springfield Leisure Group Ltd
Outstanding loan balance of £2,530,646 (2022; £2,606.001)
Interest free with no repayment terms.

12

Parent and ultimate parent undertaking

The company's immediate parent is Springfield Leisure Group Limited, incorporated in England and Wales.

 The ultimate controlling party is Mrs T Mayne.