REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024 |
FOR |
GRASTON COPSE HOLIDAY PARK LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024 |
FOR |
GRASTON COPSE HOLIDAY PARK LIMITED |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GRASTON COPSE HOLIDAY PARK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old School House |
Bridge Road |
Hunton Bridge |
Kings Langley |
Hertfordshire |
WD4 8SZ |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
BALANCE SHEET |
31ST OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
BALANCE SHEET - continued |
31ST OCTOBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
1. | STATUTORY INFORMATION |
Graston Copse Holiday Park Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced site fees and sales of goods, excluding Value Added Tax. |
The company recognises revenue as follows: |
Holiday home sales are recognised in the month in which the customer handover occurs. |
Pitch fees, rates and insurance billed are recognised in the period to which they relate. |
Holiday revenue is recognised in the month in which the the holiday ends. |
Turnover relating to shops, bars, food outlets, fitness club, swimming pool and other incidentals are recognised on receipt. |
Commission income is recognised in the period to which the sale relates. |
Deferred income represents amounts received relating to future periods and is released to turnover in the period for which it has been received. |
Accrued income represents services provided during the period which were not invoiced at the year end. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
Park improvements | - 10% reducing balance |
Caravan and vehicles | - 25% reducing balance or straight line over deemed useful life |
Fixtures and equipment | - 25% straight line |
Computer | - 33.33% straight line |
Freehold buildings | - 2% straight line |
No depreciation is provided on freehold land. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Group financial statements |
The company and its subsidiaries comprise a small group. The company has taken advantage of Section 398 of the Companies Act 2006 not to prepare group financial statements. Accordingly the accounts present information about the company as an individual undertaking and not about its group. |
Leased assets |
Rental costs under operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
Government grants |
Government grants are recognised using the accrual model whereby revenue grants are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, shall be recognised in income in the period in which it becomes receivable. |
Coronavirus Job Retention Scheme (CJRS) |
Income in respect of the CJRS is recognised in the period to which the underlying furloughed staff costs relate, the payroll liability has been incurred by the entity, and therefore the conditions to claim have been met. |
Local Authority Support Grants |
These local authority grants do not have any performance conditions attached, as they are designed to provide immediate financial support. They are therefore recognised immediately upon the entity being satisfied that they have the entitlement. |
Bounce Back Loan (BBL) Interest |
Interest on the BBL, covered by the Government for the first twelve months of the loan, is recognised as a cost as accrued. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st November 2023 |
and 31st October 2024 |
AMORTISATION |
At 1st November 2023 |
Charge for year |
At 31st October 2024 |
NET BOOK VALUE |
At 31st October 2024 |
At 31st October 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures, |
property | equipment |
and park | and |
improvements | caravans | Totals |
£ | £ | £ |
COST |
At 1st November 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st October 2024 |
DEPRECIATION |
At 1st November 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st October 2024 |
NET BOOK VALUE |
At 31st October 2024 |
At 31st October 2023 |
Included in the cost of land and buildings is freehold land of £784,654 (2023: £784,654) which is not depreciated. |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st November 2023 |
and 31st October 2024 |
NET BOOK VALUE |
At 31st October 2024 |
At 31st October 2023 |
The company owns 100 ordinary shares of £1 each, being 100% of the issued ordinary share capital of Larkfield Caravan Park Limited, a company incorporated in England and Wales. The aggregate Capital and Reserves of the subsidiary company at 31st October 2024 were £5,775,928 (2023: £5,575,488). |
The company owns 100 ordinary shares of £1 each, being 100% of the issued ordinary share capital of Sandyholme Holiday Park Limited, a company incorporated in England and Wales. The aggregate Capital and Reserves of the subsidiary at 31st October 2024 were £1,731,887 (2023: £1,663,562). |
The principal activity of both the subsidiary companies in the year under review was the management and operation of a caravan and camping park including the purchase and sale of caravans and associated activities. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | 725 | 666 |
Taxation and social security |
Other creditors |
9. | ULTIMATE CONTROLLING PARTY |
Graston Copse Holiday Park Limited is controlled by V A Cox, director and shareholder of the company. |
GRASTON COPSE HOLIDAY PARK LIMITED (REGISTERED NUMBER: 03319775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2024 |
10. | GUARANTEES AND CHARGES |
The company has given a composite guarantee in respect of borrowings by two related companies, Highlands End Farm Caravan Park Limited and West Dorset Leisure Holidays Limited, and in respect of Larkfield Caravan Park Limited and Sandyholme Holiday Park Limited, the wholly owned subsidiaries of the company. These companies have also given cross guarantees in respect of the company’s borrowings. |
The bank holds first legal mortgages over the freehold property of the company, the freehold property of West Dorset Leisure Holidays Limited, a related company, and the freehold property of Larkfield Caravan Park Limited and Sandyholme Holiday Park Limited, wholly owned subsidiaries of the company. |