REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
St. Osyth Beach Estate Ltd |
Trading as |
Hutleys Caravan Park |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
St. Osyth Beach Estate Ltd |
Trading as |
Hutleys Caravan Park |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
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 |
St. Osyth Beach Estate Ltd |
Trading as Hutleys Caravan Park |
Company Information |
for the year ended 29 February 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Warden House |
37 Manor Road |
Colchester |
Essex |
CO3 3LX |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Capital redemption reserve |
Fair value reserve | 8 | 566,341 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Balance Sheet - continued |
29 February 2024 |
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 |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Notes to the Financial Statements |
for the year ended 29 February 2024 |
1. | STATUTORY INFORMATION |
St. Osyth Beach Estate Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Property under development is classified as either freehold land or assets in the course of construction. No depreciation is provided and such assets are not revalued. On completion they either remain within land & buildings with depreciation provided at an appropriate rate or are transferred to investment property and revalued. |
Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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. |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Included in cost of land and buildings is freehold land of £ 1,956,753 (2023 - £ 1,956,753 ) which is not depreciated. |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Land & buildings | Assets in the course of construction | Total |
£ | £ | £ |
Cost |
At 1 March 2023 | 3,689,500 | 31,038 | 3,720,538 |
Additions | 2,372 | 103,350 | 105,722 |
Disposals | - | - | - |
Surplus/(deficit) on revaluation | - | - | - |
Transfers between classes | - | - | - |
At 29 February 2024 | 3,691,872 | 134,388 | 3,826,260 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Revaluations | 191,490 |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Fair value at 29 February 2024 is represented by: |
£ |
Valuation in 2015 | (162,056 | ) |
Valuation in 2016 | 60,000 |
Valuation in 2017 | 54,000 |
Valuation in 2018 | 261,528 |
Valuation in 2019 | 22,000 |
Valuation in 2020 | 2,500 |
Valuation in 2021 | 60,500 |
Valuation in 2022 | 229,000 |
Valuation in 2023 | (58,000 | ) |
Valuation in 2024 | 191,490 |
Cost | 1,981,528 |
2,642,490 |
Investment property was valued by the Directors on 29 February 2024 using applicable house price indices and rental yield indicators. |
St. Osyth Beach Estate Ltd (Registered number: 00567404) |
Trading as Hutleys Caravan Park |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
6. | DEBTORS |
29.2.24 | 28.2.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1 March 2023 | 590,856 |
Reserve transfer | - | 143,617 | 143,617 |
At 29 February 2024 | 734,473 |
9. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date the total commitment to future minimum lease payments under non-cancellable operating leases was £10,212 (2023 - £24,841) |
10. | RELATED PARTY DISCLOSURES |
At the year end Mr A Hutley owed £3,743 (2023 £3,743) to the company. This loan is unsecured, interest free and repayable on demand. |
Mr B E Hutley paid £4,800 (2023 £4,800) rent to the company. |