4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 33,000 31,350 1,650 33,000 1,650 xbrli:pure xbrli:shares iso4217:GBP 04615851 2023-03-01 2024-02-29 04615851 2024-02-29 04615851 2023-02-28 04615851 2022-03-01 2023-02-28 04615851 2023-02-28 04615851 2022-02-28 04615851 core:NetGoodwill 2023-03-01 2024-02-29 04615851 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-29 04615851 core:PlantMachinery 2023-03-01 2024-02-29 04615851 core:MotorVehicles 2023-03-01 2024-02-29 04615851 bus:Director2 2023-03-01 2024-02-29 04615851 core:NetGoodwill 2023-02-28 04615851 core:NetGoodwill 2024-02-29 04615851 core:LandBuildings 2023-02-28 04615851 core:PlantMachinery 2023-02-28 04615851 core:MotorVehicles 2023-02-28 04615851 core:LandBuildings 2024-02-29 04615851 core:PlantMachinery 2024-02-29 04615851 core:MotorVehicles 2024-02-29 04615851 core:LandBuildings 2023-03-01 2024-02-29 04615851 core:WithinOneYear 2024-02-29 04615851 core:WithinOneYear 2023-02-28 04615851 core:AfterOneYear 2024-02-29 04615851 core:AfterOneYear 2023-02-28 04615851 core:ShareCapital 2024-02-29 04615851 core:ShareCapital 2023-02-28 04615851 core:RevaluationReserve 2024-02-29 04615851 core:RevaluationReserve 2023-02-28 04615851 core:RetainedEarningsAccumulatedLosses 2024-02-29 04615851 core:RetainedEarningsAccumulatedLosses 2023-02-28 04615851 core:NetGoodwill 2023-02-28 04615851 core:LandBuildings 2023-02-28 04615851 core:PlantMachinery 2023-02-28 04615851 core:MotorVehicles 2023-02-28 04615851 bus:SmallEntities 2023-03-01 2024-02-29 04615851 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04615851 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04615851 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04615851 bus:FullAccounts 2023-03-01 2024-02-29 04615851 core:OfficeEquipment 2023-03-01 2024-02-29 04615851 core:OfficeEquipment 2023-02-28 04615851 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 04615851
WILLOW HOLT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
WILLOW HOLT LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
1,650
Tangible assets
6
908,653
966,346
----------
----------
908,653
967,996
Current assets
Stocks
45,850
111,200
Debtors
7
20,197
33,251
Cash at bank and in hand
76,619
26,066
----------
----------
142,666
170,517
Creditors: amounts falling due within one year
8
124,277
123,696
----------
----------
Net current assets
18,389
46,821
----------
-------------
Total assets less current liabilities
927,042
1,014,817
Creditors: amounts falling due after more than one year
9
20,825
30,821
Provisions
Taxation including deferred tax
166,238
162,240
----------
-------------
Net assets
739,979
821,756
----------
-------------
WILLOW HOLT LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
3
3
Revaluation reserve
439,538
486,720
Profit and loss account
300,438
335,033
----------
----------
Shareholders funds
739,979
821,756
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
R A Stevenson
Director
Company registration number: 04615851
WILLOW HOLT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Windsor House, A1 Business Park at, Long Bennington, Notts, NG23 5JR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover in relation to caravan and shop sales is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer. Income for pitch sales is recognised at the point of occupation.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Static Caravan site
-
10% reducing balance
Plant & machinery
-
10% reducing balance
Motor vehicles
-
20% reducing balance
Office equipment
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
33,000
---------
Amortisation
At 1 March 2023
31,350
Charge for the year
1,650
---------
At 29 February 2024
33,000
---------
Carrying amount
At 29 February 2024
---------
At 28 February 2023
1,650
---------
6. Tangible assets
Static Caravan site
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
921,852
280,590
25,185
24,975
1,252,602
Additions
38,750
38,750
Disposals
( 7,880)
( 7,880)
----------
----------
---------
---------
-------------
At 29 February 2024
921,852
311,460
25,185
24,975
1,283,472
----------
----------
---------
---------
-------------
Depreciation
At 1 March 2023
90,182
161,478
17,951
16,645
286,256
Charge for the year
81,181
12,637
1,447
1,178
96,443
Disposals
( 7,880)
( 7,880)
----------
----------
---------
---------
-------------
At 29 February 2024
171,363
166,235
19,398
17,823
374,819
----------
----------
---------
---------
-------------
Carrying amount
At 29 February 2024
750,489
145,225
5,787
7,152
908,653
----------
----------
---------
---------
-------------
At 28 February 2023
831,670
119,112
7,234
8,330
966,346
----------
----------
---------
---------
-------------
7. Debtors
2024
2023
£
£
Other debtors
20,197
33,251
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,996
9,996
Trade creditors
22,354
28,198
Social security and other taxes
13,782
16,675
Other creditors
78,145
68,827
----------
----------
124,277
123,696
----------
----------
Included within other creditors is £46,200 (2023 - £18,285) in respect of site fees and deposits paid in advance of the 2023/24 season.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,825
30,821
---------
---------
10. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 (Section 1A).
11. Controlling party
The company was under the control of the Stevenson family throughout the current and previous year.