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Registered number: NI615906
STRANGFORD HOLIDAY PARK LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
JAMES SAVAGE & CO
88 LISTOODER ROAD
SAINTFIELD
BT24 7JX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI615906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,723 24,346
28,723 24,346
CURRENT ASSETS
Stocks 5 15,714 30,500
Cash at bank and in hand 194,218 179,903
209,932 210,403
Creditors: Amounts Falling Due Within One Year 6 (40,270 ) (45,218 )
NET CURRENT ASSETS (LIABILITIES) 169,662 165,185
TOTAL ASSETS LESS CURRENT LIABILITIES 198,385 189,531
Creditors: Amounts Falling Due After More Than One Year 7 (10,709 ) (13,822 )
NET ASSETS 187,676 175,709
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 187,675 175,708
SHAREHOLDERS' FUNDS 187,676 175,709
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr TREVOR MATTHEWSON
Director
11/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
STRANGFORD HOLIDAY PARK LTD is a private company, limited by shares, incorporated in Northern Ireland, registered number NI615906 . The registered office is 87 SHORE ROAD, STRANGFORD, DOWNPATRICK, DOWN, BT30 7NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% WDV
Motor Vehicles 20% WDV
Fixtures & Fittings 20%wdv
Computer Equipment 20% WDV
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 31,763 25,850 2,462 2,444 62,519
Additions 11,800 - - - 11,800
As at 31 March 2024 43,563 25,850 2,462 2,444 74,319
Depreciation
As at 1 April 2023 17,583 18,668 492 1,430 38,173
Provided during the period 5,393 1,433 394 203 7,423
As at 31 March 2024 22,976 20,101 886 1,633 45,596
Net Book Value
As at 31 March 2024 20,587 5,749 1,576 811 28,723
As at 1 April 2023 14,180 7,182 1,970 1,014 24,346
5. Stocks
2024 2023
£ £
Stock 15,714 -
Finished goods - 30,500
15,714 30,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 11,669 16,204
Corporation tax 1,721 5,401
VAT 3,322 1,146
Other creditors 1,620 1,300
Accruals and deferred income 21,938 21,167
40,270 45,218
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 10,709 13,822
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5