Company registration number 12220187 (England and Wales)
OSMINGTON HOLIDAY PARK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
OSMINGTON HOLIDAY PARK LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
OSMINGTON HOLIDAY PARK LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs C V Hilton
Ms O J Jacobs
Mrs M L Harris
Mrs J H Jacobs
Company number
12220187
Registered office
10 Bridge Street
Christchurch
Dorset
BH23 1EF
Auditor
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
OSMINGTON HOLIDAY PARK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,039
2,549
Tangible assets
5
3,458,881
3,531,152
3,460,920
3,533,701
Current assets
Stocks
211,466
210,894
Debtors
6
3,830,818
2,740,729
Cash at bank and in hand
262,152
1,121,519
4,304,436
4,073,142
Creditors: amounts falling due within one year
7
(595,661)
(753,449)
Net current assets
3,708,775
3,319,693
Total assets less current liabilities
7,169,695
6,853,394
Provisions for liabilities
-
0
(193,669)
Net assets
7,169,695
6,659,725
Capital and reserves
Called up share capital
4,620,000
4,620,000
Profit and loss reserves
2,549,695
2,039,725
Total equity
7,169,695
6,659,725

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

OSMINGTON HOLIDAY PARK LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 1 August 2024 and are signed on its behalf by:
Mrs M L Harris
Director
Company Registration No. 12220187
OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Osmington Holiday Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF. The principal place of business is Osmington Holiday Park, Osmington Mills, Weymouth, DT3 6HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from holidays sold, and associated income, is recognised in the accounting period in which the holiday occurs. Lodge sales are recognised in the accounting period in which the company has fulfilled all of its obligations in respect of the sale which is typically when all the proceeds have been received and ownership is transferred. Income from pitch fees and other services is recognised in the accounting period in which the income is due to the company.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
5 years
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
4% on cost
Fixtures and fittings
15% on reducing balance
Lodges
10% on reducing balance
Other assets
15% on reducing balance, 10% on cost, 4% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stock is measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Taxation

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

Current tax

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.

OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
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 period 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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

 

The fixed asset depreciation charge is derived from the estimated useful economic life and residual value of the asset. These are reviewed annually alongside any impairment indicators.

 

The directors assess the closing debtor balances for recoverability and those not considered probable of recovery are provided for in full. For the current year, the directors have assessed the balances outstanding and consider no provision to be required against these.

 

Accruals for goods or services not yet invoiced are estimated based on historic activity with the supplier or quotations received ahead of invoicing. Accrued management fee charges are recognised at the invoice value raised post year end by the third party.

 

Prepayments are based on actual invoices received and costs allocated across the relevant accounting period on a straight line basis of the time period in which the service relates to.

 

Deferred income represents owners' site fees and rates paid in advance. These are deferred based on a monthly basis, applied under a straight line method, over the contracted period of 12 months.

 

Stock is held at the lower of cost and net realisable value which is based on the estimated sales value of the asset at the year end in relation all market data available to the directors.

 

There were no other key sources of estimation uncertainty.

 

 

 

 

3
Employees

The average monthly number of persons employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
Employees
(Continued)
- 8 -

The average number of employees reported above exclude those not meeting the requirements stipulated within FRS102. The average number of such individuals was 4 (2022 - 4).

 

Within prior reporting periods, the total average of these individuals have been disclosed.

4
Intangible fixed assets
Software
£
Cost
At 1 January 2023 and 31 December 2023
4,795
Amortisation and impairment
At 1 January 2023
2,246
Amortisation charged for the year
510
At 31 December 2023
2,756
Carrying amount
At 31 December 2023
2,039
At 31 December 2022
2,549
OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
5
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Lodges
Other assets
Total
£
£
£
£
£
Cost
At 1 January 2023
3,271,809
327,504
88,474
6,850
3,694,637
Additions
-
0
6,618
8,000
-
0
14,618
Disposals
-
0
-
0
(22,000)
-
0
(22,000)
At 31 December 2023
3,271,809
334,122
74,474
6,850
3,687,255
Depreciation and impairment
At 1 January 2023
19,934
127,859
14,969
723
163,485
Depreciation charged in the year
11,339
34,314
22,017
245
67,915
Eliminated in respect of disposals
-
0
-
0
(3,026)
-
0
(3,026)
At 31 December 2023
31,273
162,173
33,960
968
228,374
Carrying amount
At 31 December 2023
3,240,536
171,949
40,514
5,882
3,458,881
At 31 December 2022
3,251,875
199,645
73,505
6,127
3,531,152
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
104,824
95,091
Corporation tax recoverable
10,910
-
0
Other debtors
3,696,177
2,633,274
Prepayments and accrued income
18,907
12,364
3,830,818
2,740,729
OSMINGTON HOLIDAY PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
113,371
14,850
Corporation tax
-
0
228,931
Other taxation and social security
76,540
77,662
Other creditors
405,750
432,006
595,661
753,449
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Dean Pullen FCCA
Statutory Auditor:
TC Group
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
1,892
-
0
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