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REGISTERED NUMBER: 02337170 (England and Wales)











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: D C Curson
Mrs A P Curson
C D Curson
P M Curson
C A Rushton





SECRETARY: Mrs A P Curson





REGISTERED OFFICE: Croft Chambers
11 Bancroft
Hitchin
Herts
SG5 1JQ





REGISTERED NUMBER: 02337170 (England and Wales)





ACCOUNTANTS: Bradshaw Johnson
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 6,457,215 5,946,872
Investment property 5 279,804 279,804
6,737,019 6,226,676

CURRENT ASSETS
Stocks 105,310 96,576
Debtors 6 42,236 67,986
Cash at bank and in hand 253,822 195,240
401,368 359,802
CREDITORS
Amounts falling due within one year 7 3,478,298 2,982,350
NET CURRENT LIABILITIES (3,076,930 ) (2,622,548 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,660,089

3,604,128

CREDITORS
Amounts falling due after more than one year 8 (1,685,590 ) (1,793,250 )

PROVISIONS FOR LIABILITIES (517,764 ) (514,079 )
NET ASSETS 1,456,735 1,296,799

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 100 100
Fixed asset revaluation
reserve 11 342,583 342,583
Profit and loss account -
non-distributable 31,070 31,070
Retained earnings 1,082,982 923,046
SHAREHOLDERS' FUNDS 1,456,735 1,296,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 6 February 2025 and were signed on its behalf by:




P M Curson - Director



C D Curson - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings and equipment - 20% on cost and Straight line over 15 years
Fencing - 10% on cost
Motor vehicles - 25% on reducing balance
Fish - Not depreciated

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 31 (2023 - 28 ) .

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 5,640,905 383,966 34,710
Additions 525,029 11,588 -
Disposals - - -
At 30 September 2024 6,165,934 395,554 34,710
DEPRECIATION
At 1 October 2023 - 160,231 30,228
Charge for year - 25,261 2,720
Eliminated on disposal - - -
At 30 September 2024 - 185,492 32,948
NET BOOK VALUE
At 30 September 2024 6,165,934 210,062 1,762
At 30 September 2023 5,640,905 223,735 4,482

Motor
vehicles Fish Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 34,685 65,000 6,159,266
Additions 6,250 - 542,867
Disposals (300 ) - (300 )
At 30 September 2024 40,635 65,000 6,701,833
DEPRECIATION
At 1 October 2023 21,935 - 212,394
Charge for year 4,472 - 32,453
Eliminated on disposal (229 ) - (229 )
At 30 September 2024 26,178 - 244,618
NET BOOK VALUE
At 30 September 2024 14,457 65,000 6,457,215
At 30 September 2023 12,750 65,000 5,946,872

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:

30.09.2430.09.23
£   £   
Cost6,022,8825,497,853
Aggregate depreciation00

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 36,120
DEPRECIATION
At 1 October 2023 7,224
Charge for year 2,408
At 30 September 2024 9,632
NET BOOK VALUE
At 30 September 2024 26,488
At 30 September 2023 28,896

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 279,804
NET BOOK VALUE
At 30 September 2024 279,804
At 30 September 2023 279,804

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 9,271 21,798
Prepayments 32,965 46,188
42,236 67,986

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 120,000 120,000
Hire purchase contracts (see note 9) 5,160 5,160
Trade creditors 159,529 98,521
Amounts owed to group undertakings 2,140,856 1,754,055
Tax 51,337 31,670
Pension liability 1,878 1,732
VAT 59,567 71,678
Other creditors 25,615 25,615
Family funding loans 7,806 7,806
Directors' current accounts 727,259 691,258
Accruals and deferred income 179,291 174,855
3,478,298 2,982,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 120,000 120,000
Bank loans - 2-5 years 360,000 360,000
Bank loans more 5 yr by instal 1,200,000 1,302,500
Hire purchase contracts (see note 9) 5,590 10,750
1,685,590 1,793,250

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 5,160 5,160
Between one and five years 5,590 10,750
10,750 15,910

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 1,800,000 1,902,500
Hire purchase contracts 10,750 15,910
1,810,750 1,918,410

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 342,583

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.