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REGISTERED NUMBER: 08874929 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Salcombe Regis Park Ltd

Salcombe Regis Park Ltd (Registered number: 08874929)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Salcombe Regis Park Ltd

Company Information
for the year ended 31 December 2023







DIRECTORS: G Burns
A Wilson





REGISTERED OFFICE: Unit 6 Buccaneer Drive
Auckley
Finningley
Doncaster
South Yorkshire
DN9 3QP





REGISTERED NUMBER: 08874929 (England and Wales)





ACCOUNTANTS: Royston Parkin Limited
2 President Buildings
Savile Street East
Sheffield
South Yorkshire
S4 7UQ

Salcombe Regis Park Ltd (Registered number: 08874929)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,333 23,333
Tangible assets 5 3,359,265 3,381,752
3,362,598 3,405,085

CURRENT ASSETS
Stocks 6 59,192 5,559
Debtors 7 22,624 43,009
Cash at bank and in hand 33,055 30,236
114,871 78,804
CREDITORS
Amounts falling due within one year 8 3,327,003 2,994,448
NET CURRENT LIABILITIES (3,212,132 ) (2,915,644 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,466

489,441

PROVISIONS FOR LIABILITIES 9 - 44,568
NET ASSETS 150,466 444,873

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 150,366 444,773
150,466 444,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Salcombe Regis Park Ltd (Registered number: 08874929)

Statement of Financial Position - continued
31 December 2023


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 29 February 2024 and were signed on its behalf by:





G Burns - Director


Salcombe Regis Park Ltd (Registered number: 08874929)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Salcombe Regis Park Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is recognised at the time of the holiday on an accruals basis, including any holiday that falls past cancellation terms.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.
Freehold property - 0 - 4% on cost
Plant and machinery - 7 - 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Salcombe Regis Park Ltd (Registered number: 08874929)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 200,000
AMORTISATION
At 1 January 2023 176,667
Amortisation for year 20,000
At 31 December 2023 196,667
NET BOOK VALUE
At 31 December 2023 3,333
At 31 December 2022 23,333

Salcombe Regis Park Ltd (Registered number: 08874929)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 3,275,874 298,789 - 3,574,663
Additions 20,444 - 1,878 22,322
Disposals - (3,044 ) - (3,044 )
At 31 December 2023 3,296,318 295,745 1,878 3,593,941
DEPRECIATION
At 1 January 2023 33,951 158,960 - 192,911
Charge for year 20,591 22,012 313 42,916
Eliminated on disposal - (1,151 ) - (1,151 )
At 31 December 2023 54,542 179,821 313 234,676
NET BOOK VALUE
At 31 December 2023 3,241,776 115,924 1,565 3,359,265
At 31 December 2022 3,241,923 139,829 - 3,381,752

Included in cost of land and buildings is freehold land of £ 2,740,871 (2022 - £ 2,740,871 ) which is not depreciated.

6. STOCKS
2023 2022
£    £   
Work-in-progress 53,633 -
Finished goods 5,559 5,559
59,192 5,559

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,120 -
Other debtors 6,883 -
VAT 10,025 -
Prepayments and accrued income 1,596 43,009
22,624 43,009

Salcombe Regis Park Ltd (Registered number: 08874929)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,189 2,623
Amounts owed to participating interests 3,261,241 2,910,945
Tax - 23,339
VAT - 4,499
Other creditors 2,681 4,587
Accruals and deferred income 46,892 48,455
3,327,003 2,994,448

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 44,568

Deferred
tax
£   
Balance at 1 January 2023 44,568
Credit to Income Statement during year (44,568 )
Balance at 31 December 2023 -