Company Registration No. 09175216 (England and Wales)
YORK CARAVAN PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
31 March 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
YORK CARAVAN PARK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
YORK CARAVAN PARK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
483,468
361,563
Investments
4
100
100
483,568
361,663
Current assets
Debtors
5
1,365,483
1,931,622
Cash at bank and in hand
10,689
33,163
1,376,172
1,964,785
Creditors: amounts falling due within one year
6
(242,624)
(311,064)
Net current assets
1,133,548
1,653,721
Total assets less current liabilities
1,617,116
2,015,384
Creditors: amounts falling due after more than one year
7
(1,048,533)
(1,461,726)
Provisions for liabilities
(35,156)
(2,796)
Net assets
533,427
550,862
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
533,327
550,762
Total equity
533,427
550,862
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
YORK CARAVAN PARK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
Mr A R Wilson
Director
Company registration number 09175216 (England and Wales)
YORK CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
York Caravan Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is 121 Stockton Lane, York, Yorkshire, YO31 1JA.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
4% on cost
Plant and equipment
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
20% on cost
1.4
Fixed asset investments
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Investments in subsidiaries are initially measured at cost and subsequently at cost less any impairment losses.
YORK CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
4
YORK CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
430,500
42,013
3,010
475,523
Additions
11,208
8,995
139,908
160,111
At 31 March 2024
441,708
51,008
3,010
139,908
635,634
Depreciation and impairment
At 1 April 2023
86,100
25,620
2,240
113,960
Depreciation charged in the year
17,668
6,353
194
13,991
38,206
At 31 March 2024
103,768
31,973
2,434
13,991
152,166
Carrying amount
At 31 March 2024
337,940
19,035
576
125,917
483,468
At 31 March 2023
344,400
16,393
770
361,563
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
300,000
300,000
Other debtors
5,282
100
305,282
300,100
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
1,060,201
1,631,522
Total debtors
1,365,483
1,931,622
YORK CARAVAN PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
134,878
140,912
Taxation and social security
3,002
43,751
Other creditors
104,744
126,401
242,624
311,064
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,048,533
1,461,726
The bank loan is secured by a legal charge on the leasehold properties of this company and by a legal charges on the freehold property of it's subsidiary, Naburn Caravan Park Limited.
8
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:
2024
2023
£
£
45,000
1,250