2023-04-012024-03-312024-03-31false13016202MILLER COUNTRY PARKS 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MILLER COUNTRY PARKS LIMITED

Registered Number
13016202
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MILLER COUNTRY PARKS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MILLER, George William
MILLER, Natalie

Registered Address

York House
Thornfield Business Park
Northallerton
DL6 2XQ

Registered Number

13016202 (England and Wales)
MILLER COUNTRY PARKS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets376,327114,491
Tangible assets55,827,2751,278,325
5,903,6021,392,816
Current assets
Stocks710,5003,600
Debtors893,165980
Cash at bank and on hand519,516853,010
623,181857,590
Creditors amounts falling due within one year9(758,202)(390,009)
Net current assets (liabilities)(135,021)467,581
Total assets less current liabilities5,768,5811,860,397
Creditors amounts falling due after one year10(3,236,027)(618,229)
Provisions for liabilities12(350,518)(79,183)
Net assets2,182,0361,162,985
Capital and reserves
Called up share capital100100
Revaluation reserve1,008,019225,000
Profit and loss account1,173,917937,885
Shareholders' funds2,182,0361,162,985
The financial statements were approved and authorised for issue by the Board of Directors on 17 October 2024, and are signed on its behalf by:
MILLER, George William
Director
Registered Company No. 13016202
MILLER COUNTRY PARKS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Vehicles25-
Office Equipment25-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Financial instruments
The company 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.Average number of employees

20242023
Average number of employees during the year52
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23190,818190,818
At 31 March 24190,818190,818
Amortisation and impairment
At 01 April 2376,32776,327
Charge for year38,16438,164
At 31 March 24114,491114,491
Net book value
At 31 March 2476,32776,327
At 31 March 23114,491114,491
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 5 years and the asset will be amortised on a annual basis over that period.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 April 231,281,06420,943--1,302,007
Additions3,481,3305,134390,7581,8633,879,085
Revaluations1,044,025---1,044,025
Disposals--(353,008)-(353,008)
At 31 March 245,806,41926,07737,7501,8635,872,109
Depreciation and impairment
At 01 April 2319,8973,785--23,682
Charge for year17,2922,89578717821,152
At 31 March 2437,1896,68078717844,834
Net book value
At 31 March 245,769,23019,39736,9631,6855,827,275
At 31 March 231,261,16717,158--1,278,325
6.Revaluation of property, plant and equipment
Lindale Park owned by the company was revalued on 05 April 2023 by Christie and Co solicitors. The historical cost of the property was £531,064 (2023 - £531,064). Crossburn Park owned by the company was purchased on 07 November 2023 and revalued by Knight Frank solicitors. The historical cost of the property was £3,400,000. Included within Land and buildings there is land at Lindale Park and Crossburn Park which has not been depreciated.
7.Stocks

2024

2023

££
Raw materials and consumables10,5003,600
Total10,5003,600
8.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables93,165-
Prepayments and accrued income-980
Total93,165980
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables14,6826,015
Bank borrowings and overdrafts74,00030,000
Taxation and social security201,610127,005
Other creditors157,652136,106
Accrued liabilities and deferred income310,25890,883
Total758,202390,009
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank borrowings are secured by a fixed and floating charge over assets of the company.
10.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,236,027618,229
Total3,236,027618,229
Bank borrowings are secured by a fixed and floating charge over assets of the company.
11.Creditors: amounts due after 5 years
Loans repayable after more than five years amount to £2,940,027 (2023 - £618,229).
12.Provisions for liabilities
Included in the Deferred tax liability is £336,006 (2023: £75,000) of Deferred tax on the revaluation reserve.

2024

2023

££
Net deferred tax liability (asset)350,51879,183
Total350,51879,183
13.Related party transactions
Included in other creditors is a loan from the directors. No interest was charged on this loan and the loan is repayable on demand.