Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2023-01-01false5649falsetrue 13681034 2023-01-01 2023-12-31 13681034 2022-02-01 2022-12-31 13681034 2023-12-31 13681034 2022-12-31 13681034 c:Director1 2023-01-01 2023-12-31 13681034 d:Buildings 2023-01-01 2023-12-31 13681034 d:Buildings 2023-12-31 13681034 d:Buildings 2022-12-31 13681034 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13681034 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13681034 d:PlantMachinery 2023-01-01 2023-12-31 13681034 d:PlantMachinery 2023-12-31 13681034 d:PlantMachinery 2022-12-31 13681034 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13681034 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13681034 d:MotorVehicles 2023-01-01 2023-12-31 13681034 d:MotorVehicles 2023-12-31 13681034 d:MotorVehicles 2022-12-31 13681034 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13681034 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13681034 d:FurnitureFittings 2023-01-01 2023-12-31 13681034 d:OfficeEquipment 2023-01-01 2023-12-31 13681034 d:ComputerEquipment 2023-01-01 2023-12-31 13681034 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 13681034 d:OtherPropertyPlantEquipment 2023-12-31 13681034 d:OtherPropertyPlantEquipment 2022-12-31 13681034 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13681034 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13681034 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13681034 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13681034 d:CurrentFinancialInstruments 2023-12-31 13681034 d:CurrentFinancialInstruments 2022-12-31 13681034 d:Non-currentFinancialInstruments 2023-12-31 13681034 d:Non-currentFinancialInstruments 2022-12-31 13681034 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13681034 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13681034 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13681034 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13681034 d:ShareCapital 2023-12-31 13681034 d:ShareCapital 2022-12-31 13681034 d:SharePremium 2023-12-31 13681034 d:SharePremium 2022-12-31 13681034 d:RetainedEarningsAccumulatedLosses 2023-12-31 13681034 d:RetainedEarningsAccumulatedLosses 2022-12-31 13681034 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 13681034 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 13681034 c:FRS102 2023-01-01 2023-12-31 13681034 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13681034 c:FullAccounts 2023-01-01 2023-12-31 13681034 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13681034 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 13681034 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 13681034 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 13681034 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 13681034 2 2023-01-01 2023-12-31 13681034 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-12-31 13681034 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-12-31 iso4217:GBP xbrli:pure

13681034







CROWHURST PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023

































CROWHURST PARK LIMITED
REGISTERED NUMBER:13681034

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,976,711
4,039,742

  
3,976,711
4,039,742

Current assets
  

Stocks
 5 
668,656
363,533

Debtors
 6 
90,617
177,890

Bank and cash balances
  
266,442
326,551

  
1,025,715
867,974

Creditors: amounts falling due within one year
 7 
(755,264)
(751,282)

Net current assets
  
 
 
270,451
 
 
116,692

Total assets less current liabilities
  
4,247,162
4,156,434

Creditors: amounts falling due after more than one year
 8 
(469,782)
(348,525)

Provisions for liabilities
  

Deferred tax
 10 
(147,764)
(177,428)

  
 
 
(147,764)
 
 
(177,428)

Net assets
  
3,629,616
3,630,481


Capital and reserves
  

Called up share capital 
  
300
300

Share premium account
  
2,925,681
2,925,681

Profit and loss account
  
703,635
704,500

  
3,629,616
3,630,481


Page 1

CROWHURST PARK LIMITED
REGISTERED NUMBER:13681034
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C. R. Simmons
Director

Date: 26 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Crowhurst Park Limited ("the company") is a private limited company, limited by shares and incorporated
and domiciled in England and Wales.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
The address of its principal place of business is Telham Lane, Battle, East Sussex, TN33 0SL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Holiday home sales revenue is recognised on the completion of a property sale. 
Lodge lettings which represent rents received, are recorded based on the dates of stay.
Bar, catering and leisure club income are recognised at the point of sales.
Other income streams are recognised as the activity arises. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
4%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Leisure club
-
4%
straight line
Pine Lodges
-
5%
straight line

Included in freehold property is freehold land which is not depreciated.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Page 4

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)


Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

  
2.7

Stocks

All stock is valued at the lower of cost and net realisable value. For caravan stock, cost is calculated as the purchase price, together with attributable improvement costs and legal expenses. Net realisable value is based upon estimated selling price less all further costs to complete.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

 Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 49 (2022 - 56).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
3,301,864
679,967
57,282
2,206,669
6,245,782


Additions
56,243
-
14,474
27,335
98,052


Disposals
-
-
-
(143,588)
(143,588)



At 31 December 2023

3,358,107
679,967
71,756
2,090,416
6,200,246



Depreciation


At 1 January 2023
19,348
646,078
32,717
1,507,897
2,206,040


Charge for the year on owned assets
20,008
8,473
9,232
92,297
130,010


Charge for the year on financed assets
-
-
-
2,167
2,167


Disposals
-
-
-
(114,682)
(114,682)



At 31 December 2023

39,356
654,551
41,949
1,487,679
2,223,535



Net book value



At 31 December 2023
3,318,751
25,416
29,807
602,737
3,976,711



At 31 December 2022
3,282,516
33,889
24,565
698,772
4,039,742

Included in freehold property is freehold land at cost of £2,761,115 (2022: £2,761,115) which is not depreciated.

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Other fixed assets
45,316
47,483

Page 6

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Caravanas and lodges
663,131
356,733

Finished goods and goods for resale
5,525
6,800

668,656
363,533



6.


Debtors

2023
2022
£
£


Due within one year

Trade debtors
5,694
28,696

Other debtors
65,139
108,966

Prepayments and accrued income
19,784
40,228

90,617
177,890


Page 7

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank overdrafts
3,732
-

Bank loans
34,632
33,789

Trade creditors
207,700
95,081

Corporation tax
73,149
232,472

Other taxation and social security
60,832
33,696

Obligations under finance leases
99,871
18,621

Other creditors
265,348
323,123

Accruals and deferred income
10,000
14,500

755,264
751,282


The following liabilities were secured:

2023
2022
£
£



Bank loans
334,077
368,171

Obligations under finance leases
270,208
32,764

604,285
400,935

Details of security provided:

Included within creditors is a bank loan of £307,461 (2022: £331,706) which is secured by a fixed charge over all assets owned by the company. 
There is also a bank loan of £26,616 (2022: £36,465) which was facilitated by the Government's Coronavirus Business Interruption Loan Scheme.
Obligations under finance leases are secured over the assets concerned.  


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
299,445
334,382

Net obligations under finance leases and hire purchase contracts
170,337
14,143

469,782
348,525


Page 8

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
99,871
18,621

Between 1-5 years
170,337
14,143

270,208
32,764


10.


Deferred taxation




2023


£






At beginning of year
(177,428)


Charged to profit or loss
29,664



At end of year
(147,764)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(147,764)
(177,428)

(147,764)
(177,428)


11.


Prior period adjustment

The Directors have become aware that as at 31 December 2022 one of the directors was owed an additional £50,000 by the Company that has not been accounted for. Therefore, a prior period adjustment has been made to increase the directors loan account creditor by £50,000 and reduce the share premium account by the same amount.
The directors are also aware that share capital has been incorrectly included within the financial statements at £200 as opposed to £300. A prior period adjustment has been made to increase share capital by £100 and reduce the share premium by an equivalent amount.  

Page 9

CROWHURST PARK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Capital commitments


At 31 December 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
-
52,200


13.


Related party transactions

As at the year-end, the company was owed £65,139 (2022: £69,139) from businesses under common control. These loans are unsecured, interest-free and repayable on demand. These loans are included within other debtors. 
During the year loans made to the company by the directors of £50,000 (2023:£80,000) were repaid. As at the year-end the amounts owed by the company to the directors was £49,760 (2023: £99,760). These loan are unsecured, interest-free and are included within other creditors.  


14.


Controlling party

As of 23 February 2024 the ultimate parent company is Crowhurst Park Holdings Limited, which is a private company limited by shares domiciled and incorporated in England and Wales. The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. The address of its principal place of business is Telham Lane, Battle, East Sussex, TN33 0SL. The ultimate controlling parties are S. V. Cordall, C.R. Simmons and E. J. Simmons by virture of their joint shareholdings.  

 
Page 10