REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
HENLOW LAKES & RIVERSIDE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
HENLOW LAKES & RIVERSIDE LIMITED |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
HENLOW LAKES & RIVERSIDE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Croft Chambers |
11 Bancroft |
Hitchin |
Hertfordshire |
SG5 1JQ |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
STATEMENT OF FINANCIAL POSITION - continued |
30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fixed asset revaluation |
reserve | 11 |
Profit and loss account - |
non-distributable |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Henlow Lakes & Riverside Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company owns land at Arlesey Road, Henlow, Bedfordshire. Considerable improvements have been made to the site since opening in May 2005 and the directors continue to pursue various options for the further enhancement of the facilities offered. |
The enhancement expenditure incurred by the company on the site has, and will continue to require, ongoing financial support from its fellow subsidiary companies and directors.The directors consider it appropriate to prepare the financial statements on a going concern basis which assumes the continuation of this financial support. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of VAT and discounts. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on delivery of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Revenue from the provision of services is recognised over the time period to which it relates. |
Tangible fixed assets |
Fixtures, fittings and equipment | - |
Fencing | - |
Motor vehicles | - |
Fish | - |
Fish stocks are established and future breeding and growth will outweigh losses therefore any depreciation will be minimal. |
The camping pods, cabins and lodges, gates, toilet & shower blocks which in view of their short useful lives are being depreciated on a straight line basis (camping pods - 15 years, cabins and lodges - 20 years and gates, toilet and shower blocks - 10 years), |
Improvements to property have been depreciated over their estimated useful life of 15 years. Land and Buildings have not been depreciated. |
Investment property |
Investment properties are initially recognised at cost. The completed and let properties are shown at their most recent valuation. Any surplus or deficit arising from changes in fair value is recognised in profit or loss. |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Land, | Fixtures, |
buildings | fittings |
and | and |
infrastructure | equipment | Fencing |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2023 |
Additions |
Disposals |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
Eliminated on disposal |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Motor |
vehicles | Fish | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 30 September 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2011 | - | 2,970 | 2,970 |
Valuation in 2012 | 59,185 | 12,500 | 71,685 |
Valuation in 2013 | 2,281 | 9,550 | 11,831 |
Valuation in 2014 | 37,317 | 2,800 | 40,117 |
Valuation in 2015 | - | 17,000 | 17,000 |
Valuation in 2016 | - | 5,000 | 5,000 |
Valuation in 2017 | - | 4,500 | 4,500 |
Valuation in 2018 | - | 5,000 | 5,000 |
Cost | 6,022,882 | 476,579 | 6,499,461 |
6,121,665 | 535,899 | 6,657,564 |
If the fish had not been revalued they would have been included at the following historical cost: |
30.9.24 | 30.9.23 |
£ | £ |
Cost | 5,680 | 5,680 |
The fish were valued on an open market basis on 30 September 2019 by the directors . |
If the land, buildings and infrastructure had not been revalued they would have been included at the following historical cost: |
30.09.24 | 30.09.23 |
£ | £ |
Cost | 6,022,882 | 5,497,853 |
Aggregate depreciation | 0 | 0 |
On 30 June 2020, the site was professionally valued by Colliers International Property Advisors UK LLP at £3,600,000. The value at 30 September 2023 comprises the valuation of £1,350,000, as valued at 30 September 2014, together with the cost of further improvements less depreciation. |
Professional valuations of such assets are, of necessity, based upon the trading performance achieved. Due to the ongoing continued development of the site the expenditure has to be first incurred and the trading from the enhanced facilities developed before the value is fully reflected in a professional valuation. |
The directors are of the view that the carrying value of this asset at 30 September 2023 fairly reflects the fair value of the asset. |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST OR VALUATION |
At 1 October 2023 |
and 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Fair value at 30 September 2024 is represented by: |
£ |
Valuation in 2017 | 38,358 |
Cost | 241,446 |
279,804 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
Prepayments |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Pension liability | 1,878 | 1,732 |
VAT | 59,567 | 71,678 |
Other creditors |
Family funding loans | 7,806 | 7,806 |
Directors' current accounts | 727,259 | 691,258 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Hire purchase contracts (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,200,000 | 1,302,500 |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.9.24 | 30.9.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
HENLOW LAKES & RIVERSIDE LIMITED (REGISTERED NUMBER: 02337170) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans |
Hire purchase contracts | 10,750 | 15,910 |
The company's bankers hold a charge over the company's land and buildings and a debenture over the assets and undertakings of the company. Personal guarantees have also been given by the company's directors. |
11. | RESERVES |
Fixed |
asset |
revaluation |
reserve |
£ |
At 1 October 2023 |
and 30 September 2024 |
12. | RELATED PARTY DISCLOSURES |
The controlling shareholders of Henlow Lakes & Riverside Limited are Mr and Mrs D Curson. The following are related party transactions:- |
30.9.2024 | 30.09.2023 |
£ | £ |
1. Amounts loaned to the company by the Curson Family as directors and shareholders:- |
Loan balances b/fwd | 691,217 | 707,996 |
Loan balances c/fwd | 727,217 | 691,217 |
2. Transactions with Linxcroft Developments Limited & Henlow Building Supplies Limited, which |
are fellow subsidiaries:- |
a)Debtors | - | - |
b)Creditors | 2,140,856 | 1,754,055 |
3. The directors D Curson, C Curson and P Curson have given the company's bankers a guarantee in support of | the company's borrowing. |