REGISTERED NUMBER: |
Orchard Farm Holiday Park Limited |
Unaudited Financial Statements for the Period 1st April 2023 to 21st March 2024 |
REGISTERED NUMBER: |
Orchard Farm Holiday Park Limited |
Unaudited Financial Statements for the Period 1st April 2023 to 21st March 2024 |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Contents of the Financial Statements |
for the period 1st April 2023 to 21st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Orchard Farm Holiday Park Limited |
Company Information |
for the period 1st April 2023 to 21st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Balance Sheet |
21st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
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. |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Balance Sheet - continued |
21st March 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 |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Notes to the Financial Statements |
for the period 1st April 2023 to 21st March 2024 |
1. | STATUTORY INFORMATION |
Orchard Farm Holiday Park Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services relating to the provision of self-catering holidays, alongside the sale of static caravans, in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. |
The company recognises revenue when: |
The amount of revenue can be reliably measured: |
It is probable that future economic benefits will flow to the entity: |
and specific criteria have been met for each of the company's activities. |
Goodwill |
Goodwill arising on the acquistion of an entity represents the excess of the cost of acquisition over the Company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life can not be made. |
Amortisation |
Amortisation is provided on intangible assets so as to write off the cost, less estimated residual value, over their useful life as follows: |
Asset class | Amortisation method and rate |
Goodwill | Fully amortised |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 21st March 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are stated at the lower of cost and estimated selling price costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. |
The cost of finished goods and work in progress comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for Impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell: the impairment is recognised immediately in profit or loss. |
Taxation |
Taxation for the period 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. |
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 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. |
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 period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2023 |
and 21st March 2024 |
AMORTISATION |
At 1st April 2023 |
and 21st March 2024 |
NET BOOK VALUE |
At 21st March 2024 |
At 31st March 2023 |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 21st March 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 21st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 21st March 2024 |
NET BOOK VALUE |
At 21st March 2024 |
At 31st March 2023 |
Included in cost of land and buildings is freehold land of £ 722,992 (2023 - £ 744,307 ) which is not depreciated. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Loans and borrowings (see note 9) |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 9) |
Orchard Farm Holiday Park Limited (Registered number: 00394381) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 21st March 2024 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loan |
Amounts falling due between one and two years: |
Bank loan falling due |
within 1 to 2 years |
Loans and borrowing |
2024 | 2023 |
£ | £ |
Current loans and borrowings |
Bank borrowings | - | 10,000 |
Other borrowings | - | 47,713 |
- | 57,713 |
2024 | 2023 |
£ | £ |
Non-current loans and borrowings |
Bank borrowings | - | 21,825 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 2,703 | 2,703 |
11. | OTHER FINANCIAL COMMITMENTS |
The total amount of financial commitments not included in the balance sheet is £11,970 (2023 - £16,074). This commitment is in relation to a washer and dryer lease. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Transactions with directors |
At the year end, the amount due to the Company by the directors was £9,362 (2023: £(47,713)). The amount is unsecured, interest free and repayable on demand. |