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Registered number: 05085690
Ulwell Park Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05085690
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,609,666 2,403,368
2,609,666 2,403,368
CURRENT ASSETS
Stocks 5 195,716 225,455
Debtors 6 927,948 733,676
Cash at bank and in hand 695,154 1,254,447
1,818,818 2,213,578
Creditors: Amounts Falling Due Within One Year 7 (1,943,091 ) (1,917,509 )
NET CURRENT ASSETS (LIABILITIES) (124,273 ) 296,069
TOTAL ASSETS LESS CURRENT LIABILITIES 2,485,393 2,699,437
Creditors: Amounts Falling Due After More Than One Year 8 (600,190 ) (932,168 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (340,066 ) (171,535 )
NET ASSETS 1,545,137 1,595,734
CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Profit and Loss Account 1,543,137 1,593,734
SHAREHOLDERS' FUNDS 1,545,137 1,595,734
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
K J Orchard
Director
16 November 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
Ulwell Park Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05085690 . The registered office is Ulwell Cottage Caravan Park, Ulwell, Swanage, Dorset, BH19 3DG.
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:
Freehold 2% straight line on cost
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Caravans 15% reducing balance
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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2023: 28)
37 28
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2023 1,604,569 179,098 35,125 352,483
Additions - 8,771 - 56,363
Disposals - (208 ) - (6,436 )
As at 29 February 2024 1,604,569 187,661 35,125 402,410
Depreciation
As at 1 March 2023 104,018 121,949 30,069 237,388
Provided during the period 34,474 15,835 1,264 33,675
Disposals - (126 ) - (5,353 )
As at 29 February 2024 138,492 137,658 31,333 265,710
Net Book Value
As at 29 February 2024 1,466,077 50,003 3,792 136,700
As at 1 March 2023 1,500,551 57,149 5,056 115,095
Caravans Total
£ £
Cost
As at 1 March 2023 1,285,130 3,456,405
Additions 420,401 485,535
Disposals (193,591 ) (200,235 )
As at 29 February 2024 1,511,940 3,741,705
Depreciation
As at 1 March 2023 559,613 1,053,037
Provided during the period 136,378 221,626
Disposals (137,145 ) (142,624 )
As at 29 February 2024 558,846 1,132,039
Net Book Value
As at 29 February 2024 953,094 2,609,666
As at 1 March 2023 725,517 2,403,368
Page 4
Page 5
5. Stocks
2024 2023
£ £
Stock 195,716 225,455
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 845,011 704,556
Other debtors 82,937 29,120
927,948 733,676
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 282,550 237,040
Bank loans and overdrafts 55,594 75,675
Other creditors 1,439,676 1,509,857
Taxation and social security 165,271 94,937
1,943,091 1,917,509
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 600,190 932,168
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
10. Related Party Transactions
As at 28 February 2024, the company owed one of the directors £413 (2023 - £1,489), a shareholder £nil (2023 - £2,096) and another shareholder owed company the sum of £100 (2023 - owed by the company £326).
Remuneration paid to the directors in the year totalled £95,100 (2023 - £70,440).
Dividends paid to the director / shareholders in the year totalled £63,333 (2023 - £140,000).
The directors and shareholders pay the company ground rent and utilities for the use of the park for proviate caravans.  The costs charged were:-
2024
2023
£
£
Key management personnel
Nil
65,565
image
image
Nil
image
65,565
image
...CONTINUED
Page 5
Page 6
10. Related Party Transactions - continued
The company was charged the following for consultancy services from a related party
2024
2023
£
£
Key management personnel
40,500
37,050
image
image
40,500
image
37,050
image
As at the balance sheet date the following amounts were owed to the company 
2024
2023
£
£
Key management personnel
Nil
(668)
image
image
Nil
image
(668)
image
Page 6