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REGISTERED NUMBER: 09951528 (England and Wales)










Pale Wood Holiday Park Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Pale Wood Holiday Park Limited (Registered number: 09951528)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pale Wood Holiday Park Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: Mr D J DeGregory
Mr S D DeGregory





REGISTERED OFFICE: Llandderfel
Bala
Gwynedd
LL23 7RA





REGISTERED NUMBER: 09951528 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Pale Wood Holiday Park Limited (Registered number: 09951528)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 61,321 87,572
Tangible assets 5 3,883,648 3,869,473
3,944,969 3,957,045

CURRENT ASSETS
Stocks 305,905 149,385
Debtors 6 8,585 2,932
Cash at bank and in hand 241,620 307,353
556,110 459,670
CREDITORS
Amounts falling due within one year 7 1,970,617 1,877,972
NET CURRENT LIABILITIES (1,414,507 ) (1,418,302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,530,462

2,538,743

CREDITORS
Amounts falling due after more than one year 8 (1,822,261 ) (1,771,049 )

PROVISIONS FOR LIABILITIES (22,785 ) (21,146 )
NET ASSETS 685,416 746,548

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 685,316 746,448
SHAREHOLDERS' FUNDS 685,416 746,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Pale Wood Holiday Park Limited (Registered number: 09951528)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Mr S D DeGregory - Director


Pale Wood Holiday Park Limited (Registered number: 09951528)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Pale Wood Holiday Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the company is legally entitled to the consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Pale Wood Holiday Park Limited (Registered number: 09951528)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 262,500
AMORTISATION
At 1 March 2023 174,928
Charge for year 26,251
At 29 February 2024 201,179
NET BOOK VALUE
At 29 February 2024 61,321
At 28 February 2023 87,572

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 3,785,180 200,952 3,986,132
Additions - 32,619 32,619
At 29 February 2024 3,785,180 233,571 4,018,751
DEPRECIATION
At 1 March 2023 - 116,659 116,659
Charge for year - 18,444 18,444
At 29 February 2024 - 135,103 135,103
NET BOOK VALUE
At 29 February 2024 3,785,180 98,468 3,883,648
At 28 February 2023 3,785,180 84,293 3,869,473

No depreciation is provided on the freehold property as, in the opinion of the directors, the net book value is representative of the fair value of the assets.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,397 2,932
Other debtors 6,188 -
8,585 2,932

Pale Wood Holiday Park Limited (Registered number: 09951528)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 112,591 37,244
Taxation and social security 118,443 132,213
Other creditors 1,739,583 1,708,515
1,970,617 1,877,972

Other creditors include loans from the directors totalling £1,179,274 (2022: £1,291,813). There are no repayment terms attached to these loans, and no interest is charged.

Other creditors also include deferred income of £420,899 (2022: £396,010), relating to future periods.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,822,261 1,771,049

Amounts falling due in more than five years:

Repayable by instalments
Bank mortgage 1,324,664 1,291,281

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank mortgage 1,946,660 1,876,891

The bank mortgage is secured by way of fixed and floating charges over the assets of the company.

10. ULTIMATE CONTROLLING PARTY

Ultimate control lies with the directors who, between them, hold 100% of the issued share capital.