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REGISTERED NUMBER: 00449956 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LICKHILL MANOR LIMITED

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive
Income

10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow
Statement

17

Notes to the Consolidated Financial
Statements

19


LICKHILL MANOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D G Lloyd Jones
K E Lloyd Jones
L Chadwick
C Lloyd Jones





SECRETARY: D G Lloyd Jones





REGISTERED OFFICE: Lincomb Lock
Titton
Stourport on Severn
Worcestershire
DY13 9QR





REGISTERED NUMBER: 00449956 (England and Wales)





AUDITORS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


INTRODUCTION
The principal activity of the group in the year under review was that of caravan park operators and finance providers.

BUSINESS REVIEW
The business of Lickhill Manor Limited, trading as Hillandale Caravan Parks continues to thrive; Lickhill Manor's primary aim is to provide quality recreational destinations for caravan holiday home ownership, together with facilities for users of touring caravans, motorhomes and camping; Hillandale Caravan Finance Limited provides low cost, low interest rate and zero interest rate finance facilities for purchasers of holiday homes from Lickhill Manor Limited.

The trading season for 2023 presented a challenging trading environment following a combination of the previous 3 years influences, i.e. restricted availability of new holiday homes due to Brexit and COVID shutdowns, exacerbated by Russia's warmongering, with the knock-on effect on energy prices and the squeezing of the pecuniary resources of our core audience. After our enjoying a boost in holiday home sales coming out of COVID, at which time new stock was in short supply and on long delivery times, at which time we confidently placed large forward orders with manufacturers, only to find that in early 2023, demand for new holiday homes had been impaired by customers' financial pressures. Our new stock on order had to be honoured, hence, since then, we have experienced unusually high stock levels.

During 2023, the Company made some significant purchases: Hay-on-Wye Caravan Park, formerly Ashbrook Caravan & Camping; land adjacent to our Stay-on-Wye Caravan Park, required to allow a comfortable expansion; plus a property at the entrance to Lincomb Lock Caravan Park, necessary to protect the business of the park from possible future access restrictions making the delivery of holiday homes an impossibility. The significant purchases, together with higher than normal holiday home stock level, resulted in our using the bank facility to a greater extent than usual, the borrow requirement coincided with our lenders amending their terms, such that interest costs increased by 100+%.

The weather in 2023 played a significant role, it being unusually wet during the period between March to October, which had a dampening effect on trading. Despite these challenges, the number of holiday home sales were comparable with the previous 2 years, with turnover slightly reduced. Our pitch fee income for holiday homes and seasonal pitches maintained parity, whereas, despite poor weather, the touring and camping income increased by 39.75%, much of the increase due to the addition of Hay on Wye CP. All matters considered, and to the credit of the hard work and diligence of our staff, the business fared well for the year.

Looking ahead, with the benefit of being 6 months knowledge into the following financial year, our stock levels have reduced significantly, although still higher than desirable, however our commitment now to caravan manufacturers for new stock is at a very low level, consequently we are confidently trading ourselves out of the high stock situation.

In order to achieve holiday home sales in the ongoing challenging environment, we offer generous reductions on holiday homes, also increased flexibility in our trading terms; we have employed a Marketing Executive, we now use an alternative website designer and developer. We anticipate our bank indebtedness will be significantly reduced within a further 6 months.

We have future developments planned for further holiday home pitches on two of the parks, as well as new washrooms planned for Morfa Bychan Holiday Park and Lickhill Manor Caravan Park. Stay-on-Wye Caravan Park remains a valuable asset which we await to re-develop and re-open.


LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Regarding risks and uncertainty in the business, we are concerned by Government influences, i.e. taxation and employment policies, also the result of further or increased conflict in Eastern Europe and the Middle East. The major factor that has the potential to outweigh most, is the availability of good weather.

Looking at the performance of the business since these set of accounts, we are confident that with the ongoing sales of holiday homes, pitch fee income, plus touring and camping revenue, that the Company will continue to meet its primary objectives and in doing so prosper.

Through our staff we endeavour to provide a personal and attentive service to our customers, also a well-maintained environment suitable for customers of all ages to enjoy relaxing recreational time. We believe that high standards of park maintenance, landscaping, facilities and customer services, are key to our ongoing success.

ON BEHALF OF THE BOARD:





D G Lloyd Jones - Director


12 November 2024

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of caravan park operators and finance providers.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £262.23 per share.

The total distribution of dividends for the year ended 31 March 2024 will be £ 150,000 .

An interim dividend of £200,000 for the the year ended 31 March 2025 was declared on 28 October 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

D G Lloyd Jones
K E Lloyd Jones
L Chadwick
C Lloyd Jones

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Crowe U.K. LLP, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:





D G Lloyd Jones - Director


12 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LICKHILL MANOR LIMITED


Opinion
We have audited the financial statements of Lickhill Manor Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LICKHILL MANOR LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LICKHILL MANOR LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the Company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), Anti-fraud, bribery and corruption legislation, environmental protection legislation, Health and safety legislation, Taxation legislation and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be in the following areas: timing of recognition of income; the override of controls by management, including posting of unusual journals; inappropriate treatment of non-routine transactions and areas of estimation uncertainty.

Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, review and discussion of non-routine transactions, sample testing on the posting of journals and income transactions and review of accounting estimates for biases.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LICKHILL MANOR LIMITED


Other matters
The company was exempt from audit in the year ended 31 March 2023 and consequently the
corresponding figures are unaudited.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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 members as a body, for our audit work, for this report, or for the opinions we have formed.




Hayley Lavery (Senior Statutory Auditor)
for and on behalf of Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

13 November 2024

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
(Unaudited)
Notes £    £    £    £   

TURNOVER 3 9,147,162 9,156,139

Cost of sales 4,286,532 4,298,167
GROSS PROFIT 4,860,630 4,857,972

Distribution costs 281,232 193,402
Administrative expenses 3,943,356 3,421,558
4,224,588 3,614,960
OPERATING PROFIT 5 636,042 1,243,012

Interest receivable and similar
income

7

31,824

15,293
667,866 1,258,305

Interest payable and similar
expenses

8

273,822

162,218
PROFIT BEFORE TAXATION 394,044 1,096,087

Tax on profit 9 158,456 260,934
PROFIT FOR THE FINANCIAL YEAR 235,588 835,153

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 13 620,785 770,236
Tangible assets 14 5,327,099 5,492,819
Investments 15 - -
5,947,884 6,263,055

CURRENT ASSETS
Stocks 16 2,966,209 2,086,824
Debtors: amounts falling due within
one year

17

1,087,316

1,516,987
Debtors: amounts falling due after
more than one year

17

1,168,953

1,454,751
Cash at bank and in hand 1,755,855 1,815,970
6,978,333 6,874,532
CREDITORS
Amounts falling due within one year 18 5,924,989 6,006,550
NET CURRENT ASSETS 1,053,344 867,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,001,228

7,131,037

CREDITORS
Amounts falling due after more than
one year

19

(3,081,026

)

(3,239,594

)

PROVISIONS FOR LIABILITIES 22 (120,965 ) (177,794 )
NET ASSETS 3,799,237 3,713,649

CAPITAL AND RESERVES
Called up share capital 23 572 572
Retained earnings 3,798,665 3,713,077
SHAREHOLDERS' FUNDS 3,799,237 3,713,649

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:



D G Lloyd Jones - Director


LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
(Unaudited)
As restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 13 620,785 770,236
Tangible assets 14 5,327,099 5,492,819
Investments 15 1,248,649 1,248,649
7,196,533 7,511,704

CURRENT ASSETS
Stocks 16 2,966,209 2,086,824
Debtors: amounts falling due within
one year

17

811,177

1,604,010
Cash at bank and in hand 1,749,067 1,751,193
5,526,453 5,442,027
CREDITORS
Amounts falling due within one year 18 5,908,483 5,968,863
NET CURRENT LIABILITIES (382,030 ) (526,836 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,814,503

6,984,868

CREDITORS
Amounts falling due after more than
one year

19

(3,081,026

)

(3,239,594

)

PROVISIONS FOR LIABILITIES 22 (122,153 ) (181,763 )
NET ASSETS 3,611,324 3,563,511

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

COMPANY BALANCE SHEET - continued
31 MARCH 2024

2024 2023
(Unaudited)
As restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 23 572 572
Retained earnings 3,610,752 3,562,939
SHAREHOLDERS' FUNDS 3,611,324 3,563,511

Company's profit for the financial
year

197,813

740,662


The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





D G Lloyd Jones - Director


LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 572 3,207,924 3,208,496

Changes in equity
Dividends - (330,000 ) (330,000 )
Total comprehensive income - 835,153 835,153
Balance at 31 March 2023 572 3,713,077 3,713,649

Changes in equity
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 235,588 235,588
Balance at 31 March 2024 572 3,798,665 3,799,237

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 572 3,466,206 3,466,778

Changes in equity
Prior year adjustment
(see note 12) - (313,929 ) (313,929 )
Dividends - (330,000 ) (330,000 )
Total comprehensive income - 740,662 740,662
Balance at 31 March 2023 572 3,562,939 3,563,511

Changes in equity
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 197,813 197,813
Balance at 31 March 2024 572 3,610,752 3,611,324

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
(Unaudited)
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 819,287 1,548,366
Interest paid (273,822 ) (162,218 )
Tax paid (152,997 ) (218,083 )
Net cash from operating activities 392,468 1,168,065

Cash flows from investing activities
Purchase of intangible fixed assets - (259,417 )
Purchase of tangible fixed assets (184,379 ) (2,687,025 )
Sale of tangible fixed assets 2,110 7,391
Interest received 30,751 13,125
Net cash from investing activities (151,518 ) (2,925,926 )

Cash flows from financing activities
New loans in year - 3,500,000
Loan repayments in year (147,765 ) (3,142,671 )
Capital repayments in year (3,300 ) (3,300 )
Equity dividends paid (150,000 ) (330,000 )
Net cash from financing activities (301,065 ) 24,029

Decrease in cash and cash equivalents (60,115 ) (1,733,832 )
Cash and cash equivalents at
beginning of year

2

1,815,970

3,549,802

Cash and cash equivalents at end
of year

2

1,755,855

1,815,970

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
(Unaudited)
£    £   
Profit before taxation 394,044 1,096,087
Depreciation charges 497,940 534,037
Profit on disposal of fixed assets (500 ) (990 )
Finance costs 273,822 162,218
Finance income (31,824 ) (15,293 )
1,133,482 1,776,059
Increase in stocks (879,386 ) (1,005,180 )
Decrease/(increase) in trade and other debtors 715,469 (135,879 )
(Decrease)/increase in trade and other creditors (150,278 ) 913,366
Cash generated from operations 819,287 1,548,366

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,755,855 1,815,970
Year ended 31 March 2023
31.3.23 1.4.22
(Unaudited)
£    £   
Cash and cash equivalents 1,815,970 3,549,802


LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.4.23 Cash flow changes At 31.3.24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,815,970 (60,115 ) 1,755,855
1,815,970 (60,115 ) 1,755,855
Debt
Finance leases (4,475 ) 3,300 - (1,175 )
Debts falling due
within 1 year (142,657 ) 147,765 (157,393 ) (152,285 )
Debts falling due
after 1 year (3,238,419 ) - 157,393 (3,081,026 )
(3,385,551 ) 151,065 - (3,234,486 )
Total (1,569,581 ) 90,950 - (1,478,631 )

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Lickhill Manor 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 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The prior reporting period was unaudited.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

Significant judgements and estimates
Investments and goodwill carrying values are assessed at each balance sheet date for any indication of impairment . This estimate relies principally on the assessment of future earnings and cash generation of the investments and cash generating units, which is itself inherently subject to uncertainty.

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services
supplied during the year, exclusive of Value Added Tax and trade discounts.

Where holiday homes are sold on deferred terms, this is funded via a loan. If the loan is at an interest rate below market rate, the value of the sale is reduced to fair value. All the resulting interest is recognised over the term of the loan.

Turnover regarding holiday home fees are recognised over the term of pitch licence
agreement.

Turnover for touring fees is recognised upon the specific date services are provided.

Recharges of holiday home related costs and miscellaneous income are recognised at the date the services or goods are supplied.

Turnover for hire purchase charge is the interest income on the provision of caravan finance given is recognised over the term of the hire purchase loan agreement.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair
value of the identifiable assets and liabilities. It is amortised on a straight line basis to the
Profit and loss account over its estimated economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance

Land is not depreciated

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

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

Hire purchase loans, which are basic financial Instruments, are initially recorded at the present value of future payments discounted at a market rate of interest for a similar loan. Subsequently, they are measured at amortised cost using the effective interest method. Hire purchase loans that are receivable within one year are not discounted.

Creditors
Short term creditors are measured at transaction price.

There are no complex financial instruments.

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Going concern
Please refer to the Group Strategic Report, which covers the future as well as the past.

After overcoming the expenses and challenges referred to in the Strategic Report, combined with the trading success of the current financial year, we believe that with continued greater trading level, come April 2025, the Group will be in a stronger financial position; furthermore that by September 2025 we will be in a position to commence many of our future expansion and improvement projects, as well as to place significant orders for 2026 model holiday homes.

Taking the above into account, the Directors have reviewed the ongoing cash and trading position, being mindful of servicing of the bank facility. They are confident that the Group has adequate resources to continue successful operation into the future, plus they believe the going concern basis appropriate in preparing the annual financial statements.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

All turnover is in the United Kingdom.

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS
2024 2023
(Unaudited)
£    £   
Wages and salaries 1,945,015 1,556,459
Social security costs 190,813 152,178
Other pension costs 39,319 28,580
2,175,147 1,737,217

The average number of employees during the year was as follows:
2024 2023
(Unaudited)

Average number of employees 64 54

2024 2023
(Unaudited)
£    £   
Directors' remuneration 266,010 253,568
Directors' pension contributions to money purchase schemes 5,936 6,064

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 3

Information regarding the highest paid director is as follows:
2024 2023
(Unaudited)
£    £   
Emoluments etc 80,850 71,600
Pension contributions to money purchase schemes 1,321 1,321

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 55,000 55,000
Depreciation 348,489 402,100
Profit on disposal of fixed assets (500 ) (990 )
Amortisation 149,451 131,937

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. AUDITORS' REMUNERATION
2024 2023
(Unaudited)
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

15,000

-
Auditors' remuneration for non audit work 41,030 35,665

7. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
(Unaudited)
£    £   
Deposit account interest 30,752 13,125
Other interest receivable 1,072 2,168
31,824 15,293

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
(Unaudited)
£    £   
Bank loan interest 219,867 108,031
Other interest 53,955 54,187
273,822 162,218

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
(Unaudited)
£    £   
Current tax:
UK corporation tax 218,059 229,972
Adjustments in respect of
prior periods (2,774 ) -
Total current tax 215,285 229,972

Deferred tax (56,829 ) 30,962
Tax on profit 158,456 260,934

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
(Unaudited)
£    £   
Profit before tax 394,044 1,096,087
Profit multiplied by the standard rate of corporation tax in the
UK of 25 % (2023 - 19 %)

98,511

208,257

Effects of:
Expenses not deductible for tax purposes 9,929 2,831
Depreciation in excess of capital allowances 88,233 67,005
Adjustments to tax charge in respect of previous periods (2,774 ) -
Remeasurement of deferred tax for changes in tax rate 3,022 8,156
Marginal relief (1,313 ) -
Goodwill Amortisation (37,152 ) (25,068 )
Other adjustments - (247 )
Total tax charge 158,456 260,934

10. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


11. DIVIDENDS
2024 2023
(Unaudited)
£    £   
Ordinary shares of £1 each
Dividends paid 150,000 330,000

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. PRIOR YEAR ADJUSTMENT

A prior year adjustment was made to the parent entity results, after a reassessment of the value of the investment in the Company's wholly owned subsidiary, Hillandale Caravan Finance Limited in the year ended 31 March 2018 and a subsequent dividend paying up reserves in 2020. The effect of the adjustment has reduced the opening retained earnings in the comparative year by £313,929, decreased the opening cumulative amortisation of goodwill by £566,239. The comparative year amortisation charges have decreased by £117,152, resulting in an increase in parent entity profit of £117,152. The adjustment has also reduced the cost of the goodwill by £1,171,575 and increased the book value of Fixed Asset investments by £291,407. Current year retained earnings brought forward have therefore decreased by £196,777.

An adjustment has been made to correct this.

This adjustment had no impact on the Group's Balance Sheet or Profit and Loss account.

13. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,586,036 13,556 1,599,592
AMORTISATION
At 1 April 2023 829,356 - 829,356
Amortisation for year 148,604 847 149,451
At 31 March 2024 977,960 847 978,807
NET BOOK VALUE
At 31 March 2024 608,076 12,709 620,785
At 31 March 2023 756,680 13,556 770,236

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. INTANGIBLE FIXED ASSETS - continued

Company
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,586,036 13,556 1,599,592
AMORTISATION
At 1 April 2023 829,356 - 829,356
Amortisation for year 148,604 847 149,451
At 31 March 2024 977,960 847 978,807
NET BOOK VALUE
At 31 March 2024 608,076 12,709 620,785
At 31 March 2023 756,680 13,556 770,236

14. TANGIBLE FIXED ASSETS

Group
Land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 5,260,149 1,675,045 176,552 7,111,746
Additions 104,881 40,585 38,913 184,379
Disposals - (12,025 ) - (12,025 )
At 31 March 2024 5,365,030 1,703,605 215,465 7,284,100
DEPRECIATION
At 1 April 2023 516,947 984,421 117,559 1,618,927
Charge for year 88,099 235,914 24,476 348,489
Eliminated on disposal - (10,415 ) - (10,415 )
At 31 March 2024 605,046 1,209,920 142,035 1,957,001
NET BOOK VALUE
At 31 March 2024 4,759,984 493,685 73,430 5,327,099
At 31 March 2023 4,743,202 690,624 58,993 5,492,819

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


14. TANGIBLE FIXED ASSETS - continued

Company
Land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 5,260,149 1,675,045 176,552 7,111,746
Additions 104,881 40,585 38,913 184,379
Disposals - (12,025 ) - (12,025 )
At 31 March 2024 5,365,030 1,703,605 215,465 7,284,100
DEPRECIATION
At 1 April 2023 516,947 984,421 117,559 1,618,927
Charge for year 88,099 235,914 24,476 348,489
Eliminated on disposal - (10,415 ) - (10,415 )
At 31 March 2024 605,046 1,209,920 142,035 1,957,001
NET BOOK VALUE
At 31 March 2024 4,759,984 493,685 73,430 5,327,099
At 31 March 2023 4,743,202 690,624 58,993 5,492,819

Included in cost of land and buildings is freehold land of £ 1,078,549 (2023 - £ 1,078,549 ) which is not depreciated.

Group and Company

At 31 March 2024, included within the net book value of land and buildings is £4,728,569 (2023: £4,707,635) relating to freehold land and buildings and £31,415 (2023: £35,567) relating to long term leasehold land and buildings.


15. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,248,649
NET BOOK VALUE
At 31 March 2024 1,248,649
At 31 March 2023 1,248,649

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


15. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Hillandale Caravan Finance Limited
Registered office: Lincomb Lock, Titton, Stourport on Severn, Worcestershire, DY13 9QR
Nature of business: Finance provider
%
Class of shares: holding
Ordinary 100.00


16. STOCKS

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Stock and caravans held for
sale 2,966,209 2,086,824 2,966,209 2,086,824
2,966,209 2,086,824 2,966,209 2,086,824

17. DEBTORS

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Amounts falling due within one year:
Trade debtors 339,809 692,871 339,809 692,871
Amounts owed by group undertakings - - 383,568 797,083
Amounts receivable in respect of
hire purchase contracts

622,618

667,477

-

-
Other debtors 83,224 56,002 46,192 15,239
VAT 41,665 100,637 41,608 98,817
1,087,316 1,516,987 811,177 1,604,010

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


17. DEBTORS - continued

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Amounts falling due after more than one year:
Amounts receivable in respect of
hire purchase contracts

1,168,953

1,454,751

-

-

Aggregate amounts 2,256,269 2,971,738 811,177 1,604,010

The hire purchase assets are secured on the assets to which they relate.

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Bank loans and overdrafts (see note 20)
152,285

142,657

152,285

142,657
Hire purchase contracts (see note 21)
1,175

3,300

1,175

3,300
Payments on account 2,359,386 2,407,030 2,359,386 2,407,030
Trade creditors 1,760,224 1,795,183 1,758,629 1,794,493
Corporation tax 139,826 78,611 131,765 45,113
Social security and other taxes 42,759 43,642 42,759 43,642
Other creditors 155,567 162,633 155,567 162,633
Directors' loan accounts 1,134,713 1,205,499 1,134,713 1,205,499
Accruals and deferred income 179,054 167,995 172,204 164,496
5,924,989 6,006,550 5,908,483 5,968,863

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Bank loans (see note 20) 3,081,026 3,238,419 3,081,026 3,238,419
Hire purchase contracts (see note 21)
-

1,175

-

1,175
3,081,026 3,239,594 3,081,026 3,239,594

The bank loan is secured on fixed charges over the land at certain parks and on fixed and floating charges over all property and undertakings of the company.

The hire purchase liabilities are secured on the assets to which they relate.

Bank loans relate to a refinancing loan of an initial £3,500,000. Under the terms of the loan, monthly variable payments commenced, to be paid over a period of 180 months starting from August 2022, with each payment including interest charged at 1.75% above the base rate.

20. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 152,285 142,657 152,285 142,657
Amounts falling due between one and two years:
Bank loans - 1-2 years 163,276 156,259 163,276 156,259
Amounts falling due between two and five years:
Bank loans - 2-5 years 563,994 536,413 563,994 536,413
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr 2,353,756 2,545,747 2,353,756 2,545,747

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
(Unaudited

£    £   
Net obligations repayable:
Within one year 1,175 3,300
Between one and five years - 1,175
1,175 4,475

Company
Hire purchase contracts
2024 2023
as restate
(Unaudited

£    £   
Net obligations repayable:
Within one year 1,175 3,300
Between one and five years - 1,175
1,175 4,475

Company
Non-cancellable operating leases
2024 2023
as restated
(Unaudited)
As restated
£    £   
Within one year - 58,258

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


22. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
(Unaudited) (Unaudited)
As restated
£    £    £    £   
Deferred tax
Accelerated capital allowances 122,153 181,763 122,153 181,763
Other timing differences (1,188 ) (3,969 ) - -
120,965 177,794 122,153 181,763

Group
Deferred
tax
£   
Balance at 1 April 2023 177,794
Credit to Statement of Comprehensive Income during year (56,829 )
Balance at 31 March 2024 120,965

Company
Deferred
tax
£   
Balance at 1 April 2023 181,763
Credit to Statement of Comprehensive Income during year (59,610 )
Balance at 31 March 2024 122,153

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
572 Ordinary £1 572 572

24. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. £7,210 (2023: £6,596) was due to the pension scheme as at the balance sheet date and are included within creditors.

LICKHILL MANOR LIMITED (REGISTERED NUMBER: 00449956)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


25. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

During the year, the Group paid rent of £55,000 (2023: £55,000) to a pension scheme of which D G Lloyd Jones and K E Lloyd Jones are the beneficiaries. The cost is for the rent of Borders Hideaway Caravan Park which is owned wholly by the pension scheme.

Included within Group other debtors is a balance of £37,032 for a loan provided to a relative of one of the directors of an initial £43,000. Under the terms of the loan, monthly payments to be paid over 156 months starting from March 2021, with interest charged at 1.9%.

During the year, a total of key management personnel compensation of £ 301,983 was paid.

26. POST BALANCE SHEET EVENTS

On 28 October 2024, the Board of Directors declared an interim dividend of £349.65 per share totalling £200,000, to be paid immediately.

27. ULTIMATE CONTROLLING PARTY

The controlling party is D G Lloyd Jones.