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REGISTERED NUMBER: 01137109 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Mulgrew (Snr)
M Mulgrew
Mrs S Greig
S Mulgrew
Mrs K Cox





SECRETARY: M Mulgrew





REGISTERED OFFICE: South End Farm
Walney Island
Barrow in Furness
Cumbria
LA14 3YQ





REGISTERED NUMBER: 01137109 (England and Wales)





ACCOUNTANTS: R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report 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 director for our work or for this report.

You have acknowledged on the balance sheet as at 29 February 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD


Date: .............................................

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 52,615 52,615
Tangible assets 5 1,867,418 1,827,268
Investment property 6 1,693,379 1,693,379
3,613,412 3,573,262

CURRENT ASSETS
Stocks 517,569 356,657
Debtors 7 177,158 138,585
Investments 8 576 576
Cash at bank and in hand 335,257 1,409,023
1,030,560 1,904,841
CREDITORS
Amounts falling due within one year 9 1,095,575 1,352,629
NET CURRENT (LIABILITIES)/ASSETS (65,015 ) 552,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,548,397

4,125,474

CREDITORS
Amounts falling due after more than one
year

10

-

(609,180

)

PROVISIONS FOR LIABILITIES (76,373 ) (65,572 )
NET ASSETS 3,472,024 3,450,722

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 12 3,471,824 3,450,522
SHAREHOLDERS' FUNDS 3,472,024 3,450,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

BALANCE SHEET - continued
29 FEBRUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




Mrs S Greig - Director



M Mulgrew - Director


WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Walney Island South End Caravan Site 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Agricultural buildings - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

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 balance sheet date.


WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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 balance sheet 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.

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.

FIXED ASSET INVESTMENTS
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Property costs previously recognised as freehold but incorrectly classified as such, this has now been re-classified to investment property.

HIRE PURCHASE AND FINANCE LEASE CONTRACTS
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

OPERATING LEASES
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2023 - 44 ) .

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 52,615
NET BOOK VALUE
At 29 February 2024 52,615
At 28 February 2023 52,615

5. TANGIBLE FIXED ASSETS
Freehold Agricultural Solar
property buildings Farm
£    £    £   
COST
At 1 March 2023 1,906,085 80,566 155,772
Additions 30,000 - -
At 29 February 2024 1,936,085 80,566 155,772
DEPRECIATION
At 1 March 2023 371,409 43,879 44,655
Charge for year 29,888 1,931 6,231
At 29 February 2024 401,297 45,810 50,886
NET BOOK VALUE
At 29 February 2024 1,534,788 34,756 104,886
At 28 February 2023 1,534,676 36,687 111,117

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 371,390 326,025 69,866 2,909,704
Additions 48,067 21,445 25,750 125,262
At 29 February 2024 419,457 347,470 95,616 3,034,966
DEPRECIATION
At 1 March 2023 298,478 291,632 32,383 1,082,436
Charge for year 22,054 11,881 13,127 85,112
At 29 February 2024 320,532 303,513 45,510 1,167,548
NET BOOK VALUE
At 29 February 2024 98,925 43,957 50,106 1,867,418
At 28 February 2023 72,912 34,393 37,483 1,827,268

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 1,693,379
NET BOOK VALUE
At 29 February 2024 1,693,379
At 28 February 2023 1,693,379

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2018 14,831
Valuation in 2019 (2,876 )
Cost 1,681,424
1,693,379

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,000 39,433
Other debtors 67,922 51,124
Prepayments 24,236 48,028
177,158 138,585

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 576 576

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 73,985
Trade creditors 619,902 460,614
Corporation tax 55,355 95,818
Social security and other taxes 8,554 8,653
VAT 43,671 43,260
Barclaycard 2,002 9,507
Other Creditors 3,261 3,801
Directors' current accounts 204,225 461,977
Accrued expenses 158,605 195,014
1,095,575 1,352,629

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 75,931
Bank loans - 2-5 years - 239,993
Bank loans more 5 yr by instal - 293,256
- 609,180

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 293,256

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

WALNEY ISLAND SOUTH END CARAVAN SITE
LIMITED (REGISTERED NUMBER: 01137109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. RESERVES
Retained
earnings
£   

At 1 March 2023 3,450,522
Profit for the year 151,302
Dividends (130,000 )
At 29 February 2024 3,471,824

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors amounts falling due within one year are amounts due to the directors of £204,225 (2023 - £461,977). The directors' loan account was not overdrawn throughout the current or previous year.

14. RELATED PARTY DISCLOSURES

During the year the directors received dividends as follows:

Mr M Mulgrew (Snr):- £14,950 (2023:- £14,950)
Mr M Mulgrew (Jnr):- £27,950 (2023:- £27,950)
Mr S Mulgrew:- £27,950 (2023:- £27,950)
Mrs S Greig:- £27,950 (2023- £27,950)
Mrs K Cox - £27,950 (2023 - £27,950)

15. ULTIMATE CONTROLLING PARTY

No single party has overall control of the company.