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Registration number: 05459086

Seymours Parks Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Seymours Parks Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Seymours Parks Limited

Company Information

Directors

G M Seymour

P M Seymour

Company secretary

G M Seymour

Registered office

Royal Oak Caravan Park
Roman Bank
Skegness
Lincolnshire
PE25 1RB

 

Seymours Parks Limited

(Registration number: 05459086)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,004,246

5,744,711

Current assets

 

Stocks

6

1,868,215

748,180

Debtors

7

846,083

487,676

Cash at bank and in hand

 

2,210,255

2,691,897

 

4,924,553

3,927,753

Creditors: Amounts falling due within one year

8

(1,365,913)

(1,140,611)

Net current assets

 

3,558,640

2,787,142

Total assets less current liabilities

 

9,562,886

8,531,853

Provisions for liabilities

(332,257)

(73,014)

Net assets

 

9,230,629

8,458,839

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

9,230,627

8,458,837

Shareholders' funds

 

9,230,629

8,458,839

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 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 Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 May 2024 and signed on its behalf by:
 

.........................................
G M Seymour
Company secretary and director

 

Seymours Parks Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 05459086.

The address of its registered office is:
Royal Oak Caravan Park
Roman Bank
Skegness
Lincolnshire
PE25 1RB

These financial statements were authorised for issue by the Board on 20 May 2024.

These Financial Statements cover the individual entity, Seymours Parks Limited.

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.

The financial statements are prepared in sterling which is the functional currency of the company and have been expressed rounded to the nearest pound.

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 and deferred tax.

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.

 

Seymours Parks Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Land and Buildings Freehold

No depreciation

Fixtures, fittings and equipment

15% reducing balance basis

Motor Vehicles

25% reducing balance basis

Plant & machinery

15% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stock.
Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

 

Seymours Parks Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

330,000

330,000

At 30 November 2023

330,000

330,000

Amortisation

At 1 December 2022

330,000

330,000

At 30 November 2023

330,000

330,000

Carrying amount

At 30 November 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

5,452,655

433,879

8,655

5,895,189

Additions

-

325,885

-

325,885

At 30 November 2023

5,452,655

759,764

8,655

6,221,074

Depreciation

At 1 December 2022

-

143,424

7,054

150,478

Charge for the year

-

65,951

399

66,350

At 30 November 2023

-

209,375

7,453

216,828

Carrying amount

At 30 November 2023

5,452,655

550,389

1,202

6,004,246

At 30 November 2022

5,452,655

290,455

1,601

5,744,711

6

Stocks

2023
£

2022
£

Other inventories

1,868,215

748,180

 

Seymours Parks Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

827,094

475,460

Prepayments

18,989

12,216

 

846,083

487,676

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

-

12,558

Trade creditors

 

904,987

602,659

Taxation and social security

 

9,440

8,895

Other creditors

 

160,763

213,746

Accruals and deferred income

 

290,723

302,753

 

1,365,913

1,140,611

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

12,558

11

Parent and ultimate parent undertaking

The Company's immediate parent is Seymours Caravan Sales Limited, incorporated in England and Wales. Registered office: Royal Oak Caravan Park, Roman Bank, Skegness, Lincolnshire, PE25 1RB.