Company registration number 14994263 (England and Wales)
GOODWOOD PARKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 11 JULY 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GOODWOOD PARKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GOODWOOD PARKS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
348,282
Current assets
Stocks
4
1,528,449
Debtors
5
232,419
Cash at bank and in hand
1,576,892
3,337,760
Creditors: amounts falling due within one year
6
(3,982,613)
Net current liabilities
(644,853)
Net liabilities
(296,571)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(296,671)
Total equity
(296,571)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 14 February 2025
M D Dupree
Director
Company registration number 14994263 (England and Wales)
GOODWOOD PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Goodwood Parks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Crowsheath Farmhouse, Hawkswood Road, Downham, Billericay, Essex, CM11 1JT.

1.1
Reporting period

This is the first time the company has presented its financial statements since its incorporation and hence the financial statements presented are for a period of less than twelve months but no comparatives.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents amounts receivable from rental income, pitch fees, sales of mobile homes, houses, commissions and utilities recharged net of VAT. Sales of houses taken on part exchange are also recognised in turnover on completion.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Fixtures and fittings
10% on cost
Computers
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock consists of houses taken in part exchange, bases, cabins, shop stock and plant.

GOODWOOD PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
1
GOODWOOD PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 11 July 2023
-
0
-
0
-
0
-
0
Additions
345,548
2,120
1,033
348,701
At 31 March 2024
345,548
2,120
1,033
348,701
Depreciation and impairment
At 11 July 2023
-
0
-
0
-
0
-
0
Depreciation charged in the period
-
0
212
207
419
At 31 March 2024
-
0
212
207
419
Carrying amount
At 31 March 2024
345,548
1,908
826
348,282
4
Stocks
2024
£
Work in progress
525,725
Finished goods and goods for resale
1,002,724
1,528,449
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
61,372
Unpaid share capital
100
Amounts owed by group undertakings
16,802
Other debtors
147,882
Prepayments and accrued income
6,263
232,419
GOODWOOD PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
52,884
Taxation and social security
1,425
Other creditors
3,922,910
Accruals and deferred income
5,394
3,982,613
7
Share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of 10p each
1,000
100
8
Related party transactions

Included in other debtors is a balance of £60,366 owed to the company by the director. During the year interest of £434 was charged on this balance.

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