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REGISTERED NUMBER: OC370500 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 28 February 2024

for

Camping in the Forest LLP

Camping in the Forest LLP (Registered number: OC370500)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Camping in the Forest LLP

General Information
for the Year Ended 28 February 2024







DESIGNATED MEMBERS: The Forestry Commission
The Scottish Ministers





REGISTERED OFFICE: 620 Business Park
Coldharbour Lane
Bristol
BS16 1EJ





REGISTERED NUMBER: OC370500 (England and Wales)





ACCOUNTANTS: Monahans
Chartered Accountants
Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA

Camping in the Forest LLP (Registered number: OC370500)

Balance Sheet
28 February 2024

2024 2023
Notes £'000 £'000 £'000 £'000
FIXED ASSETS
Intangible assets 4 - -
Investments 5 3,959 4,071
3,959 4,071

CURRENT ASSETS
Debtors 6 113 512
Cash at bank 356 -
469 512
CREDITORS
Amounts falling due within one year 7 185 231
NET CURRENT ASSETS 284 281
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,243

4,352

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

3,160

3,269

MEMBERS' OTHER INTERESTS
Other reserves 1,083 1,083
4,243 4,352

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 3,160 3,269
Members' other interests 1,083 1,083
4,243 4,352

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 28 February 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Camping in the Forest LLP (Registered number: OC370500)

Balance Sheet - continued
28 February 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 25 November 2024 and were signed by:




The Forestry Commission - Designated member




The Scottish Ministers - Designated member


Camping in the Forest LLP (Registered number: OC370500)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Camping in the Forest LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

Going concern
From 1st December 2022 the trading operations of Camping in the Forest LLP became incorporated into Forestry England and Forestry and Land Scotland trading operations. The sites will continue to be operated through a landlord and tenant model however the result will be no trading income within Camping in the Forest LLP from 1 December 2022. The members of the LLP have assessed its ability to continue as a going concern and deems that the going concern assertion is appropriate.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Impairment of investments held as fixed assets
Camping in the Forest LLP have a loan note receivable of £3,959k (2023: £4,071k) which is repayable in quarterly equal instalments over the period to 2046. There is a key judgement around the recoverability of this loan note, which requires assessment of the financial condition of the counter-party and historic performance of payments received in accordance with the contract. At 28 February 2024 there is no indicator of impairment of this asset.

Turnover
Turnover is generated from the operation of campsites within the UK. Turnover is deferred and recognised in the Income statement when the holiday is taken.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Financial instruments
The LLP only enters into basic financial instruments 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.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on the notice of not more than 24 hours.

Camping in the Forest LLP (Registered number: OC370500)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation
Taxation on all LLP’s profits is solely the liability of the individual members.

3. EMPLOYEE INFORMATION

The average number of employees, including members with contracts of employment, during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£'000
COST
At 1 March 2023 126
Disposals (126 )
At 28 February 2024 -
AMORTISATION
At 1 March 2023 126
Eliminated on disposal (126 )
At 28 February 2024 -
NET BOOK VALUE
At 28 February 2024 -
At 28 February 2023 -

5. FIXED ASSET INVESTMENTS
Other
loans
£'000
At 1 March 2023 4,071
New in year 162
Repayment in year (274 )
At 28 February 2024 3,959

Investments are loan notes which have a fixed coupon rate and mature in 2046. They are measured at amortised cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Amounts owed by group undertakings - 399
Other debtors 113 113
113 512

Camping in the Forest LLP (Registered number: OC370500)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Trade creditors 22 30
Other creditors 163 201
185 231

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up, loans and other debtors due to members and members' other interests rank
subordinate to other unsecured creditors.

9. RELATED PARTY DISCLOSURES

The following information is provided in accordance with FRS 102 – ‘Related Party Disclosures’ as being transactions with related parties for the year.

During the year ended 28 February 2024, The Camping and Caravanning Club Limited, a related party,
charged the LLP:
- £nil (2023: £1,234,768) in respect of management charges.
- £nil (2023: £17,104) in respect of a year’s tax charge.

The outstanding balance owed to CITF Public Sector Holdings LLP relating to tax charges at year end
was £160,368 (2023: £160,368).

During the year ended 28 February 2024 the LLP was charged £nil (2023: £394,976) in respect of Ground Rent and site repairs, of this £nil (2023: £330,239) was charged by Forestry England and £nil (2023: £64,737) charged by Forestry and Land Scotland.

There were no other related party transactions other than those disclosed in these financial statements.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Forestry Commission.

Camping in the Forest LLP is wholly owned and controlled by its member, The Forestry Commission, a
non-Ministerial Government Department public body governed in England and Wales, being the ultimate
controlling party.