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Registration number: 09896866

Ty Hen Holiday Park Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Ty Hen Holiday Park Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Ty Hen Holiday Park Ltd

Company Information

Directors

Mr John Summerfield

Mrs Claire Michelle Summerfield

Registered office

Ty Hen Holiday Park
Station Road
Rhosneigr
Ynys Mon
LL65 5QZ

Accountants

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

 

Ty Hen Holiday Park Ltd

(Registration number: 09896866)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

805,513

814,013

Current assets

 

Stocks

5

300

300

Debtors

6

5,321

16,705

Cash at bank and in hand

 

1,850

37,053

 

7,471

54,058

Creditors: Amounts falling due within one year

7

(487,229)

(529,737)

Net current liabilities

 

(479,758)

(475,679)

Total assets less current liabilities

 

325,755

338,334

Creditors: Amounts falling due after more than one year

7

(332,743)

(340,663)

Net liabilities

 

(6,988)

(2,329)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(7,088)

(2,429)

Shareholders' deficit

 

(6,988)

(2,329)

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. 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 28 August 2024 and signed on its behalf by:
 

.........................................
Mr John Summerfield
Director

 

Ty Hen Holiday Park Ltd

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:
Ty Hen Holiday Park
Station Road
Rhosneigr
Ynys Mon
LL65 5QZ

These financial statements were authorised for issue by the Board on 28 August 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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.

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:

 

Ty Hen Holiday Park Ltd

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

Asset class

Depreciation method and rate

Buildings

2% Straight Line

Plant & Machinery

15% Reducing Balance

Motor Vehicles

25% Reducing Balance

Fixtures & Fittings

15% Reducing Balance

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.

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.

3

Staff numbers

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

 

Ty Hen Holiday Park Ltd

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

774,279

759

1,215

110,205

886,458

At 31 December 2023

774,279

759

1,215

110,205

886,458

Depreciation

At 1 January 2023

5,732

431

1,008

65,274

72,445

Charge for the year

1,659

49

52

6,740

8,500

At 31 December 2023

7,391

480

1,060

72,014

80,945

Carrying amount

At 31 December 2023

766,888

279

155

38,191

805,513

At 31 December 2022

768,547

328

207

44,931

814,013

Included within the net book value of land and buildings above is £747,885 (2022 - £749,544) in respect of freehold land and buildings and £19,003 (2022 - £19,003) in respect of long leasehold land and buildings.
 

 

Ty Hen Holiday Park Ltd

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

5

Stocks

2023
£

2022
£

Other inventories

300

300

6

Debtors

Current

2023
£

2022
£

Trade debtors

5,321

11,341

Other debtors

-

5,364

 

5,321

16,705

 

Ty Hen Holiday Park Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

66,328

64,191

Trade creditors

 

15,676

26,607

Taxation and social security

 

4,610

695

Accruals and deferred income

 

8,750

8,500

Other creditors

 

391,865

429,744

 

487,229

529,737

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

332,743

340,663

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

329,190

336,239

Hire purchase contracts

3,553

4,424

332,743

340,663

 

Ty Hen Holiday Park Ltd

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,648

10,648

Bank overdrafts

18,970

16,833

Other borrowings

36,710

36,710

66,328

64,191

10

Dividends