2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-31 Sage Accounts Production Advanced 2023 - FRS102_2023 155,000 41,333 15,500 56,833 98,167 113,667 xbrli:pure xbrli:shares iso4217:GBP 12441678 2022-12-31 2023-12-31 12441678 2023-12-31 12441678 2022-12-30 12441678 2021-12-31 2022-12-30 12441678 2022-12-30 12441678 2021-12-30 12441678 core:PlantMachinery 2022-12-31 2023-12-31 12441678 core:NetGoodwill 2022-12-31 2023-12-31 12441678 bus:OrdinaryShareClass1 2022-12-31 2023-12-31 12441678 bus:Director2 2022-12-31 2023-12-31 12441678 core:WithinOneYear 2023-12-31 12441678 core:WithinOneYear 2022-12-30 12441678 core:NetGoodwill 2022-12-30 12441678 core:NetGoodwill 2023-12-31 12441678 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-30 12441678 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12441678 core:PlantMachinery 2023-12-31 12441678 core:AfterOneYear 2023-12-31 12441678 core:AfterOneYear 2022-12-30 12441678 core:ShareCapital 2023-12-31 12441678 core:ShareCapital 2022-12-30 12441678 core:RetainedEarningsAccumulatedLosses 2023-12-31 12441678 core:RetainedEarningsAccumulatedLosses 2022-12-30 12441678 core:NetGoodwill 2022-12-30 12441678 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-30 12441678 bus:SmallEntities 2022-12-31 2023-12-31 12441678 bus:AuditExemptWithAccountantsReport 2022-12-31 2023-12-31 12441678 bus:SmallCompaniesRegimeForAccounts 2022-12-31 2023-12-31 12441678 bus:PrivateLimitedCompanyLtd 2022-12-31 2023-12-31 12441678 bus:FullAccounts 2022-12-31 2023-12-31 12441678 bus:OrdinaryShareClass1 2023-12-31 12441678 bus:OrdinaryShareClass1 2022-12-30
COMPANY REGISTRATION NUMBER: 12441678
Sardis Leisure Park Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Sardis Leisure Park Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
98,167
113,667
Tangible assets
6
917,735
908,100
------------
------------
1,015,902
1,021,767
Current assets
Debtors
7
15,376
12,704
Cash at bank and in hand
63,968
44,640
--------
--------
79,344
57,344
Creditors: amounts falling due within one year
8
329,596
236,830
---------
---------
Net current liabilities
250,252
179,486
------------
------------
Total assets less current liabilities
765,650
842,281
Creditors: amounts falling due after more than one year
9
660,149
743,964
Provisions
( 2,409)
---------
---------
Net assets
103,092
98,317
---------
---------
Capital and reserves
Called up share capital
10
2
2
Profit and loss account
11
103,090
98,315
---------
--------
Shareholders funds
103,092
98,317
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sardis Leisure Park Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mrs S A Ennis
Director
Company registration number: 12441678
Sardis Leisure Park Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crofty Showground, Llanteg, Narberth, Wales, SA67 8QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future and conclude that the company has adequate resources to to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue represents the amounts derived from the provision of services which fall within the company's ordinary activities, measured ate the fair value of consideration received, net of discounts, rebates and value added tax. Revenue received from holiday sales is initially deferred and subsequently recognised when the holiday commences. Sales of goods through onsite facilities are shown net of returns and discounts. Retail sales are generally recognised at the point of cash receipt.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 31 December 2022 and 31 December 2023
155,000
---------
Amortisation
At 31 December 2022
41,333
Charge for the year
15,500
---------
At 31 December 2023
56,833
---------
Carrying amount
At 31 December 2023
98,167
---------
At 30 December 2022
113,667
---------
6. Tangible assets
Investment property
Plant and machinery
Office
Total
£
£
£
£
Cost
At 31 December 2022
862,090
46,010
908,100
Additions
12,500
12,500
---------
--------
--------
---------
At 31 December 2023
862,090
12,500
46,010
920,600
---------
--------
--------
---------
Depreciation
At 31 December 2022
Charge for the year
2,865
2,865
---------
--------
--------
---------
At 31 December 2023
2,865
2,865
---------
--------
--------
---------
Carrying amount
At 31 December 2023
862,090
9,635
46,010
917,735
---------
--------
--------
---------
At 30 December 2022
862,090
46,010
908,100
---------
--------
--------
---------
The directors confirm there is no change in the fair value of the investment property.
7. Debtors
2023
2022
£
£
Other debtors
15,376
12,704
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
36,268
37,906
Trade creditors
4,738
818
Accruals and deferred income
44,053
49,452
Social security and other taxes
4,559
13,291
Other creditors
239,978
135,363
---------
---------
329,596
236,830
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
487,227
501,042
Director loan accounts
172,922
242,922
---------
---------
660,149
743,964
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £342,153 (2022: £338,975) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
11. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
12. Directors' advances, credit and guarantees
The directors have provided a personal guarantee to the amount of £150,000 in respect of the bank loan.
13. Related party transactions
Included within other creditors are loans owed to the company directors of £172,944 (2022: £242,922). There are no fixed terms of repayment or interest charged. Included within creditors are amounts owed to Ocean Leisure Parks Limited of £2,114 (2022: £2,114), a company related through common control. At the year end the company owed £140,961 (2022: £71,346) to Tenby Tourers Limited, a company under common control. During the year the company incurred costs of £2,038 (2022: £22,052) which were paid by Zed Ten Caravans & Transport Limited, a Company under common control. At the year end the Company owed £96,903 (2022: £61,903).
14. Controlling party
The company is under the ultimate control of Mr R T Ennis and Mrs S A Ennis who between them own 100% of the issued share capital.