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Registered number: 08945891










LIDO LEISURE PARKS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LIDO LEISURE PARKS LIMITED
REGISTERED NUMBER: 08945891

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
62,514
125,025

Tangible assets
 5 
23,323,081
22,827,152

Investments
 6 
100
100

  
23,385,695
22,952,277

Current assets
  

Stocks
  
1,915,852
987,908

Debtors: amounts falling due within one year
 7 
7,526,271
7,033,337

Cash at bank and in hand
 8 
2,536,455
3,580,363

  
11,978,578
11,601,608

Creditors: amounts falling due within one year
 9 
(5,416,470)
(5,009,895)

Net current assets
  
 
 
6,562,108
 
 
6,591,713

Total assets less current liabilities
  
29,947,803
29,543,990

Creditors: amounts falling due after more than one year
 10 
(3,322,581)
(4,427,025)

Provisions for liabilities
  

Deferred tax
  
(67,159)
(76,259)

  
 
 
(67,159)
 
 
(76,259)

Net assets
  
26,558,063
25,040,706


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
12,826,569
12,827,234

Profit and loss account
  
13,731,394
12,213,372

  
26,558,063
25,040,706


Page 1

 
LIDO LEISURE PARKS LIMITED
REGISTERED NUMBER: 08945891
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr B Maguire
Director

Date: 7 November 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
Wetherby Road
Knaresborough 
North Yorkshire
HG5 8LR

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors, having made due and careful enquiry are of the opinion that the company has adequate working capital to execute its operations over the next 12 months.  The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue principally represents amounts receivable for the sale of caravans and site fees during the year, net of VAT. Revenue also includes the sale of gas bottles, Wi-Fi, holiday cottage income, the sale of food and drink in the on-site cafe and restaurant and various other ancilliary income and recharged amounts. 

 
2.4

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic life of 10 years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method

Depreciation is provided on the following basis:

Freehold property
-
2% on cost
Plant & machinery
-
15% on reducing balance
Motor vehicles
-
25% on cost
Fixtures & fittings
-
15% on reducing balance
Hire fleet
-
10% on cost

 
2.6

Revaluation of tangible fixed assets

Individual freehold land and buildings is carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in the statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Stocks

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

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).

Page 4

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
625,113



At 31 March 2024

625,113



Amortisation


At 1 April 2023
500,088


Charge for the year on owned assets
62,511



At 31 March 2024

562,599



Net book value



At 31 March 2024
62,514



At 31 March 2023
125,025



Page 5

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
22,764,804
389,822
23,154,626


Additions
70,055
555,364
625,419


Disposals
-
(12,750)
(12,750)



At 31 March 2024

22,834,859
932,436
23,767,295



Depreciation


At 1 April 2023
118,982
208,493
327,475


Charge for the year on owned assets
43,097
84,564
127,661


Disposals
-
(10,922)
(10,922)



At 31 March 2024

162,079
282,135
444,214



Net book value



At 31 March 2024
22,672,780
650,301
23,323,081



At 31 March 2023
22,645,822
181,330
22,827,152

Cost or valuation at 31 March 2024 is as follows:

Land and buildings
£


At cost
1,504,859
At valuation:

The land and buildings were valued at 29 March 2021 by Sanderson Weatherall, on the bases of market value. The valuations are made at fair value, in accordance with the RICS valuation professional standard definition.
21,330,000



22,834,859

Page 6

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           5.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
8,794,507
8,794,507

Accumulated depreciation
(372,577)
(354,611)

Net book value
8,421,930
8,439,896


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2023
100



At 31 March 2024
100





7.


Debtors

2024
2023
£
£


Trade debtors
1,143,895
1,984,924

Other debtors
6,364,369
5,037,893

Called up share capital not paid
100
100

Prepayments and accrued income
17,907
10,420

7,526,271
7,033,337


Page 7

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,536,455
3,580,363

2,536,455
3,580,363



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
266,060
328,361

Trade creditors
3,194,410
2,570,030

Amounts owed to group undertakings
100
100

Corporation tax
252,634
234,175

Other taxation and social security
8,108
6,304

Other creditors
1,689,775
1,859,408

Accruals and deferred income
5,383
11,517

5,416,470
5,009,895


Page 8

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,322,581
4,427,025

3,322,581
4,427,025


The following liabilities were secured:

2024
2023
£
£



Within one year
266,060
328,362

Between 1-5 years
1,163,307
1,407,918

Over 5 years
2,159,274
3,019,107

3,588,641
4,755,387

Details of security provided:

The bank loan is secured on the freehold land and buildings of the company.


11.


Loans

Analysis of the maturity of loans is given below:


2024
2023
£
£

AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS


Bank loans
2,159,274
3,019,107

2,159,274
3,019,107

Page 9

 
LIDO LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

During the year the company traded with companies in which the directors have an interest. 
Sales of £Nil were made by the company and at the balance sheet date, £775,537 (
2023 - £1,635,450) is included in trade debtors. 
Purchases of £42,931 were made by the company and at the balance sheet date £6,108 (
2023 - £900) is included in trade creditors. 
During the year loans of £1,400,000 (
2023 - £Nil) were made to these companies and are outstanding at the balance sheet date and are included in debtors.

 
Page 10