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REGISTERED NUMBER: 01779036 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Statement of Financial Position 12

Statement of Changes in Equity 13

Statement of Cash Flows 14

Notes to the Statement of Cash Flows 15

Notes to the Financial Statements 16


HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Mr Thomas Scarrott
Mrs Jacqueline Scarrott
Mr Thomas Harry Shadie Scarrott
Mr James William Scarrott
Mr Charles Henry Scarrott



SECRETARY: Mrs Jacqueline Scarrott



REGISTERED OFFICE: The Holiday Village
Clarach Bay
Aberystwyth
Ceredigion
SY23 3DT



REGISTERED NUMBER: 01779036 (England and Wales)



AUDITORS: R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ



BANKERS: HSBC Bank Plc
46 Fore Street
Trowbridge
Wiltshire
BA14 8EL

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024


The directors present their strategic report for the year ended 31st January 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the period end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

As a Holiday Park proprietors and caravan dealers the company continues to operate caravan holiday parks with on-site facilities and to sell caravans. The company's activities are organised into the following five areas:

o Site fees
o Sale of caravans
o Holiday packages
o On-site facilities

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin and return on capital employed.
The turnover of the company by activity was as follows:

2024 2023
£    £   

Site Fees 1,428 1,181
Sale of Caravans 1,389 1,413
Holiday Packages 712 766
On-site Facilities 1,268 1,333
4,797 4,693

Most areas of the business have shown growth during the period and this has left the company in a good financial position at the end of the period, in line with our expectations.

Overall operating profit has increased to £1,344,719 (28.0%) from 2023: £808,012 (17.2%) and profit before tax has increased to £1,317,891 (2023 - £779,139). After taxation and dividends, £995,023 (2023 - £650,650) has been retained to be added to reserves.

Return on capital employed has reduced to 4.2% (2023 - 7.8%). Return on capital employed is calculated as profit after interest and tax divided by gross capital employed, which constitutes total assets.


HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company recognizes a variety of financial and market based risks, including exposure to fluctuating interest risks, changing economic conditions, technological and industry based risks, the competitive environment and regulatory changes. These, either singularly or collectively, may affect revenue, cost structure or the value of assets within the business, and are all difficult to quantify.
The main financial risks arising from the company's business are liquidity and cash flow risk and credit risk, and policies with respect to these risks are described below. There is no currency exposure as all material transactions and financial instruments are in Sterling.

Liquidity and cash flow risk

Liquidity and cash flow risk is in risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities and exposure to variability in cash flows. The company also manages liquidity and cash flow risk by utilising its cash flow resources.

Credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Company policies are aimed at minimising such losses, and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures.

Other risks

IT risk and cyber security

The company has various IT systems and applications, the obsolescence or failure of which could impede trading. Failure to put in place adequate preventative measures, if attacked, could lead to data loss or the inability to use the IT systems for a prolonged period. The IT strategy is focused on ensuring the long-term stability of operating systems and data security, whilst keeping pace with the changing face of consumer IT expectations. We continue to strengthen IT security to mitigate the increasing risk of cyber security threats.

People and succession

Attracting and maintaining talented team members and investing in their training and development are essential to the efficiency and sustainability of the company. Succession planning is embedded across the company and is proactively managed.

ON BEHALF OF THE BOARD:





Mr Thomas Scarrott - Director


28th October 2024

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST JANUARY 2024


The directors present their report with the financial statements of the company for the year ended 31st January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of holiday park proprietors and caravan dealers.

DIVIDENDS
No dividends will be distributed for the year ended 31st January 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st February 2023 to the date of this report.

Mr Thomas Scarrott
Mrs Jacqueline Scarrott
Mr Thomas Harry Shadie Scarrott
Mr James William Scarrott
Mr Charles Henry Scarrott

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST JANUARY 2024


AUDITORS
The auditors, R Pau & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Thomas Scarrott - Director


28th October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED


Opinion
We have audited the financial statements of Heatherdale Holidays (Clarach Bay) Limited (the 'company') for the year ended 31st January 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outline above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified the principal risks
of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition.

Audit procedures performed included:

o Review of the financial statement disclosures to underlying supporting documentation
o Enquiring of management and directors concerning actual and potential litigation and claims including knowledge of any non-compliance with laws and regulations
o In addressing the fraud risk in revenue recognition we have tested a sample of revenues recorded through agreement of booking period terms
o In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Nimesh Pau F.C.C.A. (Senior Statutory Auditor)
for and on behalf of R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ

28th October 2024

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 4,797,285 4,693,082

Cost of sales 2,700,401 3,161,751
GROSS PROFIT 2,096,884 1,531,331

Administrative expenses 726,860 701,108
OPERATING PROFIT 4 1,370,024 830,223


Interest payable and similar expenses 5 52,133 51,084
PROFIT BEFORE TAXATION 1,317,891 779,139

Tax on profit 6 322,868 128,489
PROFIT FOR THE FINANCIAL YEAR 995,023 650,650

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 995,023 650,650


OTHER COMPREHENSIVE INCOME
Property revaluation 15,904,731 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

15,904,731

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

16,899,754

650,650

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 1 1
Tangible assets 8 18,975,949 2,683,963
18,975,950 2,683,964

CURRENT ASSETS
Stocks 9 2,217,431 1,437,709
Debtors 10 1,991,640 3,555,891
Cash at bank and in hand 376,193 656,349
4,585,264 5,649,949
CREDITORS
Amounts falling due within one year 11 2,953,295 4,152,610
NET CURRENT ASSETS 1,631,969 1,497,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,607,919

4,181,303

CREDITORS
Amounts falling due after more than one
year

12

-

(583,580

)

PROVISIONS FOR LIABILITIES 16 (133,156 ) (22,714 )
NET ASSETS 20,474,763 3,575,009

CAPITAL AND RESERVES
Called up share capital 17 80,000 80,000
Revaluation reserve 18 15,904,731 -
Retained earnings 18 4,490,032 3,495,009
SHAREHOLDERS' FUNDS 20,474,763 3,575,009

The financial statements were approved by the Board of Directors and authorised for issue on 28th October 2024 and were signed on its behalf by:





Mr Thomas Scarrott - Director


HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST JANUARY 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st February 2022 80,000 2,844,359 - 2,924,359

Changes in equity
Total comprehensive income - 650,650 - 650,650
Balance at 31st January 2023 80,000 3,495,009 - 3,575,009

Changes in equity
Total comprehensive income - 995,023 15,904,731 16,899,754
Balance at 31st January 2024 80,000 4,490,032 15,904,731 20,474,763

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,163,552 (672,252 )
Interest paid (52,034 ) (49,387 )
Interest element of hire purchase payments
paid

(99

)

(1,697

)
Tax paid (105,774 ) (159,503 )
Net cash from operating activities 1,005,645 (882,839 )

Cash flows from investing activities
Purchase of tangible fixed assets (565,613 ) (512,833 )
Net cash from investing activities (565,613 ) (512,833 )

Cash flows from financing activities
Capital repayments in year (675,542 ) (155,681 )
Amount introduced by directors - 22,460
Amount withdrawn by directors (44,646 ) -
Net cash from financing activities (720,188 ) (133,221 )

Decrease in cash and cash equivalents (280,156 ) (1,528,893 )
Cash and cash equivalents at beginning of
year

2

656,349

2,185,242

Cash and cash equivalents at end of year 2 376,193 656,349

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Operating profit 1,370,024 830,223
Depreciation charges 175,473 116,330
Loss on disposal of fixed assets 2,885 -
1,548,382 946,553
Increase in stocks (779,722 ) (367,033 )
Decrease in trade and other debtors 1,564,253 904,675
Decrease in trade and other creditors (1,169,361 ) (2,156,447 )
Cash generated from operations 1,163,552 (672,252 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st January 2024
31/1/24 1/2/23
£    £   
Cash and cash equivalents 376,193 656,349
Year ended 31st January 2023
31/1/23 1/2/22
£    £   
Cash and cash equivalents 656,349 2,185,242


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/2/23 Cash flow At 31/1/24
£    £    £   
Net cash
Cash at bank and in hand 656,349 (280,156 ) 376,193
656,349 (280,156 ) 376,193
Debt
Finance leases (4,457 ) 4,457 -
Debts falling due within 1 year (87,506 ) 87,506 -
Debts falling due after 1 year (583,580 ) 583,580 -
(675,543 ) 675,543 -
Total (19,194 ) 395,387 376,193

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Heatherdale Holidays (Clarach Bay) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the net invoiced value of caravan sales, site fees and other associated income, excluding value added tax.

Turnover from the sale of goods on site, the sale of caravans and site fees is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. For site shop sales and caravans this is usually on the date of dispatch of the goods.

For site fees, recognition occurs when the site is occupied. Fees received on booking in advance of the holiday are carried forward in creditors as deferred income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1984, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machines - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 statement of financial position date.


HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued
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 year 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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS


Year Ended Year Ended
31/1/24 31/1/23
£ £

Wages and salaries 555,096 564.875
Social security costs 40,065 38,857
Other pension costs 9,156 7,125
604,317 610,857


The average monthly number of employees during the year 35 35


Directors' remuneration - 45,911

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 175,473 116,330
Loss on disposal of fixed assets 2,885 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 26,729 27,176
Bank charges and interest 2,348 2,843
Credit card charges 22,957 19,368
Hire purchase 99 1,697
52,133 51,084

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 212,429 105,774

Deferred tax 110,439 22,715
Tax on profit 322,868 128,489

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Property revaluation 15,904,731 - 15,904,731

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 1
NET BOOK VALUE
At 31st January 2024 1
At 31st January 2023 1

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machines fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1st February 2023 2,195,269 1,692,534 303,342 43,649 4,234,794
Additions - 565,613 - - 565,613
Disposals - - - (5,800 ) (5,800 )
Revaluations 15,904,731 - - - 15,904,731
At 31st January 2024 18,100,000 2,258,147 303,342 37,849 20,699,338
DEPRECIATION
At 1st February 2023 - 1,216,636 303,342 30,853 1,550,831
Charge for year - 172,995 - 2,478 175,473
Eliminated on disposal - - - (2,915 ) (2,915 )
At 31st January 2024 - 1,389,631 303,342 30,416 1,723,389
NET BOOK VALUE
At 31st January 2024 18,100,000 868,516 - 7,433 18,975,949
At 31st January 2023 2,195,269 475,898 - 12,796 2,683,963

Cost or valuation at 31st January 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machines fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 18,100,000 2,258,147 303,342 37,849 20,699,338

9. STOCKS
2024 2023
£    £   
Caravan stock 2,118,071 1,368,484
Consumable stock 8,927 6,110
Gas bottles stock 90,433 63,115
2,217,431 1,437,709

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,128,841 2,425,964
Amounts owed by group undertakings 681,847 1,011,662
Prepayments and other debtors 92,323 88,413
Value added taxation 88,629 29,852
1,991,640 3,555,891

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) - 87,506
Hire purchase contracts (see note 14) - 4,457
Trade creditors 354,912 134,806
Corporation tax 212,429 105,774
PAYE and national insurance 4,593 3,471
Pensions 1,000 793
Site fees in advance 2,161,177 3,603,532
Holiday bookings in advance 180,764 101,588
Caravan deposits 7,045 30,095
Directors' current accounts 1,760 46,406
Sundry creditors and accruals 29,615 34,182
2,953,295 4,152,610

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) - 583,580

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 87,506

Amounts falling due between one and two years:
Bank loans - 583,580

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year - 4,457

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 671,086

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 133,156 22,714

Deferred
tax
£   
Balance at 1st February 2023 22,715
Accelerated allowances 110,439
Balance at 31st January 2024 133,154

** BALANCE ABOVE AT START OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF 22,715
DOES NOT AGREE TO LAST YEAR TOTAL OF ACCOUNTS PER TB 22,714

** BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF 133,154
DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB 133,156

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80,000 Ordinary £1 80,000 80,000

18. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st February 2023 3,495,009 - 3,495,009
Profit for the year 995,023 995,023
Property revaluation - 15,904,731 15,904,731
At 31st January 2024 4,490,032 15,904,731 20,394,763

HEATHERDALE HOLIDAYS (CLARACH BAY)
LIMITED (REGISTERED NUMBER: 01779036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


19. ULTIMATE PARENT COMPANY

The company is ultimately controlled by Mr T & Mrs J Scarrott by virtue of the fact they beneficially jointly own 51% of the issued share capital in the company.

Included in this ownership is 26% of the issued shares owned by Vale Holiday Parks Limited, a company owned and controlled by Mr T & Mrs J Scarrott.

Vale Holiday Parks Limited is a company incorporated in England & Wales - company number 04670394.