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Company registration number: 12083312







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


HAVENWOOD COUNTRY PARK LIMITED






































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HAVENWOOD COUNTRY PARK LIMITED
REGISTERED NUMBER:12083312

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,204,809
4,150,407

  
4,204,809
4,150,407

Current assets
  

Stocks
  
369,264
605,455

Debtors: amounts falling due within one year
 5 
73,281
88,203

Cash at bank and in hand
  
36,369
28,775

  
478,914
722,433

Creditors: amounts falling due within one year
 6 
(2,850,907)
(3,513,446)

Net current liabilities
  
 
 
(2,371,993)
 
 
(2,791,013)

Total assets less current liabilities
  
1,832,816
1,359,394

Provisions for liabilities
  

Deferred tax
 7 
(124,463)
(110,761)

  
 
 
(124,463)
 
 
(110,761)

Net assets
  
1,708,353
1,248,633


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Revaluation reserve
  
332,282
332,282

Profit and loss account
  
1,375,971
916,251

  
1,708,353
1,248,633


Page 1

 
HAVENWOOD COUNTRY PARK LIMITED
REGISTERED NUMBER:12083312
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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: 




M.C. Annis
Director

Date: 4 November 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
HAVENWOOD COUNTRY PARK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
100
-
79,624
79,724


Comprehensive income for the year

Profit for the year
-
-
836,627
836,627

Surplus on revaluation of freehold property
-
443,043
-
443,043

Deferred tax on revaluation
-
(110,761)
-
(110,761)
Total comprehensive income for the year
-
332,282
836,627
1,168,909



At 1 April 2023
100
332,282
916,251
1,248,633


Comprehensive income for the year

Profit for the year
-
-
459,720
459,720
Total comprehensive income for the year
-
-
459,720
459,720


At 31 March 2024
100
332,282
1,375,971
1,708,353


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Havenwood Country Park Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, United Kingdom, KT22 8DY. The principal place of business is Arundel Road, Arundel, West Sussex, BN18 0AH.
The Company is part of the Monte Carlo Parks Ltd Group.
The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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

Revenue

Turnover is recognised by the Company to the extent that it obtains the right to consideration in exchange for its performance. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Monies received in advance are treated as deferred income and held as payments on account.
Pitch fees, Recharges and Commissions are recognised on an accruals basis in the period to which they relate.
Sales of mobile homes are recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.

Page 4

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20% reducing balance

No depreciation has been provided on freehold property as the property is held at valuation.

Page 5

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are 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 reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other 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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

The Company only 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.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - Nil).



Page 6

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
4,150,000
499
4,150,499


Additions
-
55,000
55,000



At 31 March 2024

4,150,000
55,499
4,205,499



Depreciation


At 1 April 2023
-
92
92


Charge for the year
-
598
598



At 31 March 2024

-
690
690



Net book value



At 31 March 2024
4,150,000
54,809
4,204,809



At 31 March 2023
4,150,000
407
4,150,407

The property was professionally valued in January 2023 by commercial real estate agents, Avison Young, at market value. The director chose to adopt this valuation at 31 March 2024.

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
3,706,957
3,706,957

Net book value
3,706,957
3,706,957

Page 7

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
5,924
1,738

Amounts owed by group undertakings
58,666
58,666

Other debtors
3,010
24,951

Prepayments and accrued income
5,681
2,848

73,281
88,203



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,619
220,931

Amounts owed to group undertakings
2,754,733
3,034,429

Corporation tax
63,324
54,823

Other creditors
7,052
-

Accruals and deferred income
8,179
203,263

2,850,907
3,513,446



7.


Deferred taxation




2024


£






At beginning of year
(110,761)


Charged to profit or loss
(13,702)



At end of year
(124,463)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(13,702)
-

Deferred tax on revaluation of freehold property
(110,761)
(110,761)

(124,463)
(110,761)

Page 8

 
HAVENWOOD COUNTRY PARK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Contingent liabilities

The Company has given a guarantee in respect of the bank loan of its parent company. The guarantee is secured by a fixed charge over the company's freehold property and a debenture over all other assets of the company.


9.


Related party transactions

The Company has taken advantage of the exemption available within FRS 102 Section 33.1A, from disclosing transactions entered into with entities which are a wholly owned part of the group.


10.


Controlling party

The ultimate controlling parent undertaking is Monte Carlo Parks Ltd by virtue of its 100% controlling interest of the Company. The address of the parent company's registered office is Ashcombe House 5 The Crescent, Leatherhead, Surrey, United Kingdom, KT22 8DY.
The ultimate controlling party is M.C. Annis by virtue of his 100% shareholding in Monte Carlo Parks Ltd.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 4 November 2024 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 9