Registration number:
Riviere Towans Chalet Camp Management Company Ltd
(A company limited by guarantee)
for the Year Ended 31 October 2024
Riviere Towans Chalet Camp Management Company Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Riviere Towans Chalet Camp Management Company Ltd
Company Information
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Directors |
S R Hobden R J Harvey M K Weigh P D Taylor |
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Registered office |
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Riviere Towans Chalet Camp Management Company Ltd
(Registration number: 1292608)
Balance Sheet as at 31 October 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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153,733 |
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Current assets |
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Debtors |
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16,316 |
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Cash at bank and in hand |
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162,302 |
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178,618 |
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Creditors: Amounts falling due within one year |
( |
(102,758) |
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Net current assets |
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75,860 |
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Total assets less current liabilities |
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229,593 |
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Creditors: Amounts falling due after more than one year |
- |
(7,021) |
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Net assets |
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222,572 |
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Reserves |
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Other reserves |
225,000 |
225,000 |
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Retained earnings |
51,901 |
(2,428) |
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Shareholders' Funds |
276,901 |
222,572 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
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General information |
The company is a private company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
ENGLAND
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The figures in the financial statements have been rounded to the nearest pound sterling.
Going concern
The Company has a long standing and wide spread membership which gives rise to stable long term income from annual membership charges. As a consequence, the Board of Directors believe that the Company is well placed to manage its business risks successfully despite the uncertain economic outlook.
After making enquiries, the Board of Directors have a reasonable expectation that the Company has adequate resources to continue in operation for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Audit report
Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Income from annual membership fees and waste management fees are recognised on a straight line basis over the specified 12 month period to which they relate.
Government grants
Revenue grants, including government grants, are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate, under the accrual model permitted by FRS 102.
Capital grants, including government grants, are recognised in income on a systematic basis over the expected useful economic life of the asset.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
The company's income from membership fees and waste management charges are mutual trades in nature, as such the company is not liable to tax on any profits or losses from these trades.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold buildings |
2-10% straight line basis |
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Plant and equipment |
20% straight line basis |
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Motor vehicles |
20% straight line basis |
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Other assets |
15% straight line basis |
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Freehold land |
Not depreciated, held at nil value |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for unpaid membership fees and planning deposits.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
Planning deposits
The members will pay planning deposits to the company upon submitting their intention to carry out building works to their respective chalets. These deposits are initially recognised as a Trade debtor and an Other creditor, prior to the deposit being paid to the company.
The company will repay this deposit to the member upon completion of the works if they comply with all planning regulations enforced by the company. Where the works are not carried out in accordance with regulations as agreed with the company, these deposits will be retained by the company and subsequently recognised as income, net of sales/value added tax.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the useful life of the asset. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
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Tangible assets |
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Land and buildings |
Plant and machinery |
Motor vehicles |
Total |
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Cost |
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At 1 November 2023 |
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Additions |
- |
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Disposals |
- |
( |
( |
( |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
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( |
( |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Included within the net book value of land and buildings above is £122,693 (2023 - £126,792) in respect of freehold land and buildings.
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Debtors |
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2024 |
2023 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Finance lease and hire purchase contracts |
- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included within other creditors is a balance of £4,250 (2023: £13,250) which relates to planning deposits paid by the members held by the company.
Riviere Towans Chalet Camp Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 October 2024
Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Finance lease and hire purchase contracts |
- |
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Reserves |
Transfers of reserves are made on occasion between the profit and loss account and other reserves. This is a designation of realised reserves only.
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
£26,886 (2023: £nil) has also been committed in relation to contracted resurfacing and groundworks at the site.
£360 has also been committed in relation to electrical decommissioning works at the site.