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REGISTERED NUMBER: 04559912 (England and Wales)















Pen-Y-Fan Caravan & Leisure Park Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pen-Y-Fan Caravan & Leisure Park Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr C G Davies
Mr G G Davies





SECRETARY: Mr C G Davies





REGISTERED OFFICE: Pen Y Fan Caravan & Leisure Park
Manmoel Road
Oakdale
Blackwood
Gwent
NP12 0HY





REGISTERED NUMBER: 04559912 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 7,500
Tangible assets 5 2,313,472 2,330,897
2,319,472 2,338,397

CURRENT ASSETS
Stocks 136,602 117,727
Debtors 6 158,651 162,158
Cash at bank and in hand 125,287 101,545
420,540 381,430
CREDITORS
Amounts falling due within one year 7 324,564 278,558
NET CURRENT ASSETS 95,976 102,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,415,448

2,441,269

CREDITORS
Amounts falling due after more than one year 8 (694,853 ) (725,792 )

PROVISIONS FOR LIABILITIES (51,913 ) (154,939 )

ACCRUALS AND DEFERRED INCOME (27,769 ) (14,329 )
NET ASSETS 1,640,913 1,546,209

CAPITAL AND RESERVES
Called up share capital 5,305 5,305
Revaluation reserve 10 1,517,265 1,517,265
Retained earnings 118,343 23,639
SHAREHOLDERS' FUNDS 1,640,913 1,546,209

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.

Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

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 29 November 2024 and were signed on its behalf by:





Mr G G Davies - Director


Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pen-Y-Fan Caravan & Leisure Park 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 the work performed to date to the total estimated contract costs. Turnover received in respect of services for future periods is deffered.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised and amortised over its useful economic life of 20 years.

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.

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 reducing balance
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Grants receivable
Grants are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 30,000
AMORTISATION
At 1 March 2023 22,500
Charge for year 1,500
At 29 February 2024 24,000
NET BOOK VALUE
At 29 February 2024 6,000
At 28 February 2023 7,500

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 March 2023 1,923,988 196,556 675,413
Additions - - -
At 29 February 2024 1,923,988 196,556 675,413
DEPRECIATION
At 1 March 2023 78,289 35,577 404,547
Charge for year 7,853 8,049 27,087
At 29 February 2024 86,142 43,626 431,634
NET BOOK VALUE
At 29 February 2024 1,837,846 152,930 243,779
At 28 February 2023 1,845,699 160,979 270,866

Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 65,167 17,337 2,878,461
Additions 35,570 8,052 43,622
At 29 February 2024 100,737 25,389 2,922,083
DEPRECIATION
At 1 March 2023 25,908 3,243 547,564
Charge for year 13,780 4,278 61,047
At 29 February 2024 39,688 7,521 608,611
NET BOOK VALUE
At 29 February 2024 61,049 17,868 2,313,472
At 28 February 2023 39,259 14,094 2,330,897

Cost or valuation at 29 February 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2014 1,565,691 - -
Cost 358,297 196,556 675,413
1,923,988 196,556 675,413

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2014 - - 1,565,691
Cost 100,737 25,389 1,356,392
100,737 25,389 2,922,083

If the freehold property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 358,297 358,297
Aggregate depreciation 105,904 105,904

The freehold property was valued on an open market basis basis on 3 May 2013 by Edwards & Partners .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 4,159 2,706
Other debtors 154,492 159,452
158,651 162,158

Pen-Y-Fan Caravan & Leisure Park Limited (Registered number: 04559912)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 9,845 10,647
Trade creditors 141,141 141,212
Taxation and social security 57,731 51,633
Other creditors 115,847 75,066
324,564 278,558

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 694,853 725,792

Amounts falling due in more than five years:

Repayable by instalments
Mortgages 673,124 695,137

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 704,698 736,439

The bank loan is secured by way of a fixed and floating charge over all assets. Hire purchase liabilities are secured on the assets to which they relate.

10. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 1,517,265

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 February 2024 and the period ended 28 February 2023:

29.2.24 28.2.23
£    £   
Mr G G Davies
Balance outstanding at start of year 85,454 19,046
Amounts advanced 45,122 66,408
Amounts repaid (36,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,076 85,454