Company No:
Contents
DIRECTORS | R Hardick |
M Newing |
REGISTERED OFFICE | Centenary House Peninsula Park |
Rydon Lane | |
Exeter | |
EX2 7XE | |
United Kingdom |
COMPANY NUMBER | 13836804 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 30.11.2023 | 30.11.2022 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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4,187,770 | 4,187,770 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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35,818 | 24,583 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (3,412,162) | (1,335,513) | ||
Total assets less current liabilities | 775,608 | 2,852,257 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Devon Valley Park Limited (registered number:
R Hardick
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Devon Valley Park Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investments in subsidiary undertakings are recognised at cost.
Investments in unincorporated entities, including partnership interests, are initially recognised at cost (being the amount paid to acquire the interest and the capital invested in the partnership), plus attributable legal costs of acquisition. Subsequent measurement of this interest is in accordance with equity accounting principles with a share of the profit (or loss) being recognised within other operating income and either increasing or decreasing the carrying value of this investment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Year ended 30.11.2023 |
Period from 10.01.2022 to 30.11.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Subsidiary undertakings |
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Investments in subsidiaries
30.11.2023 | |
£ | |
Cost | |
At 01 December 2022 |
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At 30 November 2023 |
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Carrying value at 30 November 2023 |
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Carrying value at 30 November 2022 |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Amounts owed by related parties |
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Prepayments |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Bank loans and overdrafts (secured) |
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Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to related parties |
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Accruals |
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Taxation and social security |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Bank loans (secured) |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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During the current year, a loan existed between Wilson Leisure Limited and Devon Valley Park Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Wilson Leisure Limited was £3,158,228 (2022: £1,156,027).