REGISTERED NUMBER: 00743563 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KEAT FARM (CARAVANS) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M J Kent

Mrs J L Kent

Mr B L Kent

Mrs J D Beba

Mr W E Beba

Mr P J Taylor

SECRETARY:

Mrs J D Beba

REGISTERED OFFICE:

Keat Farm, Reculver Road

Herne Bay

Kent

CT6 6SR

REGISTERED NUMBER:

00743563 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

5

17,019,736

17,377,787

Investments

6

6,264,573

6,262,046

23,284,309

23,639,833

CURRENT ASSETS

Stocks

781,123

769,909

Debtors

7

115,997

246,823

Cash at bank and in hand

1,172,138

1,058,145

2,069,258

2,074,877

CREDITORS

Amounts falling due within one year

8

817,783

965,044

NET CURRENT ASSETS

1,251,475

1,109,833

TOTAL ASSETS LESS CURRENT LIABILITIES

24,535,784

24,749,666

CREDITORS

Amounts falling due after more than one year

9

(5,881,098

)

(5,999,663

)

PROVISIONS FOR LIABILITIES

(3,393,387

)

(3,393,387

)

NET ASSETS

15,261,299

15,356,616

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Revaluation reserve

13

9,813,232

10,085,229

Capital redemption reserve

45,000

45,000

Retained earnings

5,303,067

5,126,387

15,261,299

15,356,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 4 April 2025 and were signed on its behalf by:

Mr M J Kent - Director

1.	STATUTORY INFORMATION

Keat Farm (Caravans) 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST OR VALUATION

At 1 January 2024

15,278,868

2,107,584

792,229

Additions

-

-

30,673

Disposals

-

-

-

At 31 December 2024

15,278,868

2,107,584

822,902

DEPRECIATION

At 1 January 2024

379,046

42,151

593,332

Charge for year

66,858

3,319

22,973

Eliminated on disposal

-

-

-

Revaluation adjustments

235,692

38,832

-

At 31 December 2024

681,596

84,302

616,305

NET BOOK VALUE

At 31 December 2024

14,597,272

2,023,282

206,597

At 31 December 2023

14,899,822

2,065,433

198,897

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

152,601

562,745

18,894,027

Additions

-

23,950

54,623

Disposals

-

(5,950

)

(5,950

)

At 31 December 2024

152,601

580,745

18,942,700

DEPRECIATION

At 1 January 2024

127,049

374,662

1,516,240

Charge for year

2,566

42,399

138,115

Eliminated on disposal

-

(5,915

)

(5,915

)

Revaluation adjustments

-

-

274,524

At 31 December 2024

129,615

411,146

1,922,964

NET BOOK VALUE

At 31 December 2024

22,986

169,599

17,019,736

At 31 December 2023

25,552

188,083

17,377,787

Tangible assets held at valuation

The freehold and leasehold property as owned at 31st December 2024 were revalued on the 27th of November 2013 by GVA Grimley Limited, an independent firm of Chartered Surveyors on an open market value basis.

The historical cost value of the freehold property is £3,465,367 (2021 - £3,465,367) and that of the leasehold property is £158,385 (2021 - £158,385) based on the historical cost convention.

6.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

29,790

6,232,256

6,262,046

Revaluations

2,527

-

2,527

At 31 December 2024

32,317

6,232,256

6,264,573

NET BOOK VALUE

At 31 December 2024

32,317

6,232,256

6,264,573

At 31 December 2023

29,790

6,232,256

6,262,046

Cost or valuation at 31 December 2024 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2022

21,592

6,232,256

6,253,848

Valuation in 2023

8,198

-

8,198

Valuation in 2024

2,527

-

2,527

32,317

6,232,256

6,264,573

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

17,820

129,255

Other debtors

813

13,413

PayPal

952

22,771

VAT

20,525

16,996

Prepayments

75,887

64,388

115,997

246,823

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

262,589

325,661

Trade creditors

76,052

50,210

Deposits held

22,800

12,600

Pitch fees received in advance

79,129

56,072

Corporation tax

82,895

78,656

PAYE and NIC

22,449

21,997

Directors' current accounts

173,556

221,556

Accruals

98,313

198,292

817,783

965,044

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

4,280,821

4,399,663

Amounts owed to group undertakings

1,600,277

1,600,000

5,881,098

5,999,663

10.

LOANS

The bank loans and overdraft are secured by a charge over the freehold sites at Woodlands, Applegarth, Little Satmar, Hartridge Farm, Hawthorn Farm, Rowan Tree, Frost Farm and Reculver Road, and the leasehold site at Quex.

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

35,000

35,000

Between one and five years

140,000

140,000

In more than five years

271,250

306,250

446,250

481,250

Keat Farm (Caravans) Limited is party to an operating lease in respect to Quex Caravan Park in Birchington, Kent. The lease runs from 29th September 1997 and expires on the 28th of September 2039.

12.	FINANCIAL INSTRUMENTS

The Company holds only basic financial instruments as defined by FRS 102 S.11, the listed investments made are in straightforward equity shares where the shares are publicly traded and therefore the fair value of the shares is recorded within the Statement of Financial Position.

13.

RESERVES

Revaluation

reserve

£

At 1 January 2024

10,085,229

Revaluation of tangible assets

(274,524

)

Revaluation Investments by and distributions to owners

2,527

At 31 December 2024

9,813,232

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr M J Kent

Balance outstanding at start of year

(125,320

)

(199,320

)

Amounts advanced

24,000

74,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(101,320

)

(125,320

)

Mrs J L Kent

Balance outstanding at start of year

(93,739

)

(167,739

)

Amounts advanced

24,000

74,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(69,739

)

(93,739

)

Mrs J D Beba

Balance outstanding at start of year

(400

)

(400

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(400

)

(400

)

Mr B L Kent

Balance outstanding at start of year

(1,708

)

(1,708

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,708

)

(1,708

)

Mr W E Beba

Balance outstanding at start of year

(364

)

(364

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(364

)

(364

)

Mr P J Taylor

Balance outstanding at start of year

(25

)

(25

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(25

)

(25

)

15.	RELATED PARTY DISCLOSURES