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Company No: 08871011 (England and Wales)

WALLEDEN HOLIDAY CENTRE LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

WALLEDEN HOLIDAY CENTRE LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

WALLEDEN HOLIDAY CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
WALLEDEN HOLIDAY CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Intangible assets 4 46,033 68,583
Tangible assets 5 315,895 322,719
361,928 391,302
Current assets
Stocks 6 6,600 5,230
Debtors 7 0 10,623
Cash at bank and in hand 52,807 36,499
59,407 52,352
Creditors: amounts falling due within one year 8 ( 177,459) ( 128,028)
Net current liabilities (118,052) (75,676)
Total assets less current liabilities 243,876 315,626
Creditors: amounts falling due after more than one year 9 ( 150,196) ( 173,664)
Provision for liabilities ( 78,900) ( 60,500)
Net assets 14,780 81,462
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 14,680 81,362
Total shareholders' funds 14,780 81,462

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Walleden Holiday Centre Limited (registered number: 08871011) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

Mr D Wall
Director
Mr A Wall
Director
WALLEDEN HOLIDAY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
WALLEDEN HOLIDAY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Walleden Holiday Centre Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Walleden Farm New Road, East Huntspill, Highbridge, Somerset, TA9 3PU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

Disclose the nature of the prior period adjustment, and (if practicable);
(i) for each prior period presented, the amount of the correction for each financial statement line item affected; and
(ii) the amount of the correction at the beginning of the earliest prior period presented; or an explanation if it is not practicable to disclose these amounts for (i) and (ii).

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Computer software 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Prior year adjustment

The accounts have been restated to reflect the full value of a seperate trade incorporated into the company as at 31st January 2022. The change has resulted in profits available for distribution at 31 January 2023 decreasing after tax by £21,750

As previously reported Adjustment As restated
Year ended 31 January 2023 £ £ £
Intangible assets 3,333 65,250 68,583
Debtors 51,877 (41,254) 10,623
Creditors: amounts failing due within one year (82,282) (45,746) (128,028)
Profit and loss account 103,112 (21,750) 81,362

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

4. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 February 2023 97,500 4,000 101,500
At 31 January 2024 97,500 4,000 101,500
Accumulated amortisation
At 01 February 2023 32,250 667 32,917
Charge for the financial year 21,750 800 22,550
At 31 January 2024 54,000 1,467 55,467
Net book value
At 31 January 2024 43,500 2,533 46,033
At 31 January 2023 65,250 3,333 68,583

5. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2023 486,566 68,685 106,027 8,645 669,923
Additions 18,390 19,066 1,604 0 39,060
At 31 January 2024 504,956 87,751 107,631 8,645 708,983
Accumulated depreciation
At 01 February 2023 272,427 31,772 36,957 6,048 347,204
Charge for the financial year 23,197 9,183 12,646 858 45,884
At 31 January 2024 295,624 40,955 49,603 6,906 393,088
Net book value
At 31 January 2024 209,332 46,796 58,028 1,739 315,895
At 31 January 2023 214,139 36,913 69,070 2,597 322,719

6. Stocks

2024 2023
£ £
Stocks 6,600 5,230

7. Debtors

2024 2023
£ £
Other debtors 0 10,623

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 15,672 0
Trade creditors 1,165 17,429
Amounts owed to directors 69,701 45,746
Accruals and deferred income 51,901 31,368
Taxation and social security 38,563 33,286
Other creditors 457 199
177,459 128,028

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 150,196 173,664

Loan is secured with a fixed and floating charge on all the property of the company.

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100