Coly Vale Holiday Park Limited 05002428 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the running of a caravan holiday park. Digita Accounts Production Advanced 6.30.9574.0 true true 05002428 2023-01-01 2023-12-31 05002428 2023-12-31 05002428 core:RetainedEarningsAccumulatedLosses 2023-12-31 05002428 core:RevaluationReserve 2023-12-31 05002428 core:ShareCapital 2023-12-31 05002428 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 05002428 core:CurrentFinancialInstruments 2023-12-31 05002428 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05002428 core:FurnitureFittingsToolsEquipment 2023-12-31 05002428 core:LandBuildings 2023-12-31 05002428 core:MotorVehicles 2023-12-31 05002428 core:OtherPropertyPlantEquipment 2023-12-31 05002428 bus:SmallEntities 2023-01-01 2023-12-31 05002428 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05002428 bus:FullAccounts 2023-01-01 2023-12-31 05002428 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05002428 bus:RegisteredOffice 2023-01-01 2023-12-31 05002428 bus:Director1 2023-01-01 2023-12-31 05002428 bus:Director2 2023-01-01 2023-12-31 05002428 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05002428 bus:Agent1 2023-01-01 2023-12-31 05002428 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05002428 core:Land 2023-01-01 2023-12-31 05002428 core:LandBuildings 2023-01-01 2023-12-31 05002428 core:MotorVehicles 2023-01-01 2023-12-31 05002428 core:OfficeEquipment 2023-01-01 2023-12-31 05002428 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05002428 core:PlantMachinery 2023-01-01 2023-12-31 05002428 countries:EnglandWales 2023-01-01 2023-12-31 05002428 2022-12-31 05002428 core:FurnitureFittingsToolsEquipment 2022-12-31 05002428 core:LandBuildings 2022-12-31 05002428 core:MotorVehicles 2022-12-31 05002428 core:OtherPropertyPlantEquipment 2022-12-31 05002428 2022-01-01 2022-12-31 05002428 2022-12-31 05002428 core:RetainedEarningsAccumulatedLosses 2022-12-31 05002428 core:RevaluationReserve 2022-12-31 05002428 core:ShareCapital 2022-12-31 05002428 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 05002428 core:CurrentFinancialInstruments 2022-12-31 05002428 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05002428 core:FurnitureFittingsToolsEquipment 2022-12-31 05002428 core:LandBuildings 2022-12-31 05002428 core:MotorVehicles 2022-12-31 05002428 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05002428

Coly Vale Holiday Park Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Company Information

Directors

Mr N M Parker

Mr J P Parker

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Bankers

HSBC Bank Plc
250 High Street
Exeter
Devon
EX4 3PZ

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,003,296

1,009,583

Current assets

 

Debtors

5

3,024

4,343

Cash at bank and in hand

 

126,922

72,935

 

129,946

77,278

Creditors: Amounts falling due within one year

6

(333,901)

(328,333)

Net current liabilities

 

(203,955)

(251,055)

Total assets less current liabilities

 

799,341

758,528

Provisions for liabilities

(129,745)

(130,698)

Net assets

 

669,596

627,830

Capital and reserves

 

Called up share capital

6

6

Revaluation reserve

545,817

545,817

Profit and loss account

123,773

82,007

Total equity

 

669,596

627,830

For the financial year ending 31 December 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Balance Sheet as at 31 December 2023

.........................................
Mr J P Parker
Director

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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.

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.

Government grants

Grant income relates to the Business Support Grant and is recognised under the accrual model.

Tax

The tax expense for the period comprises current and deferred 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.

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.

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Not depreciated

Plant and machinery

20% straight line basis

Motor vehicles

20% straight line basis

Office equipment

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Freehold land and buildings
£

Office equipment
£

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 January 2023

1,000,000

742

38,664

1,897

1,041,303

At 31 December 2023

1,000,000

742

38,664

1,897

1,041,303

Depreciation

At 1 January 2023

-

297

29,526

1,897

31,720

Charge for the year

-

149

6,138

-

6,287

At 31 December 2023

-

446

35,664

1,897

38,007

Carrying amount

At 31 December 2023

1,000,000

296

3,000

-

1,003,296

At 31 December 2022

1,000,000

445

9,138

-

1,009,583

Revaluation

The fair value of the company's Freehold land and buildings was revalued on 31 December 2023. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £324,438 (2022 - £324,438).

5

Debtors

2023
£

2022
£

Trade debtors

1,264

529

Other debtors

-

2,463

Prepayments and accrued income

1,760

1,351

Total current trade and other debtors

3,024

4,343

 

Coly Vale Holiday Park Limited
(Registration number: 05002428)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

255,190

260,301

Trade creditors

 

1,407

44,690

Taxation and social security

 

42,791

17,394

Other creditors

 

29,563

998

Accrued expenses

 

4,950

4,950

 

333,901

328,333

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

-

2,828

Other borrowings

255,190

257,473

255,190

260,301