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Registration number: 00598895

Seadown Holiday Park Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Seadown Holiday Park Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Seadown Holiday Park Limited

(Registration number: 00598895)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,382,032

8,289,452

Current assets

 

Stocks

6

93,976

87,624

Debtors

7

37,357

91,384

Cash at bank and in hand

 

1,039,368

998,093

 

1,170,701

1,177,101

Creditors: Amounts falling due within one year

8

(1,699,717)

(1,522,836)

Net current liabilities

 

(529,016)

(345,735)

Total assets less current liabilities

 

7,853,016

7,943,717

Creditors: Amounts falling due after more than one year

8

(3,426)

-

Provisions for liabilities

(685,023)

(675,766)

Net assets

 

7,164,567

7,267,951

Capital and reserves

 

Called up share capital

2,000

2,000

Revaluation reserve

438,241

445,371

Other reserves

4,000

4,000

Retained earnings

6,720,326

6,816,580

Total equity

 

7,164,567

7,267,951

 

Seadown Holiday Park Limited

(Registration number: 00598895)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Board on 28 April 2025 and signed on its behalf by:
 

Mr M E Osborne
Director

   
     
 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Seadown Caravan Park Bridge Road
Charmouth
Bridport
Dorset
DT6 6QS

These financial statements were authorised for issue by the Board on 28 April 2025.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Freehold land and buildings

0 - 2% straight line

Plant and machinery

10% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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 group will not be able to collect all amounts due according to the original terms of the receivables.

 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the group 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 shorter of the useful life of the asset and the lease term. 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.

 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 20 (2023 - 20).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

300,002

300,002

At 30 November 2024

300,002

300,002

Amortisation

At 1 December 2023

300,002

300,002

At 30 November 2024

300,002

300,002

Carrying amount

At 30 November 2024

-

-

 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Freehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

7,277,888

2,989,380

130,453

10,397,721

Additions

105,120

267,749

62,835

435,704

Disposals

-

(73,297)

(32,527)

(105,824)

At 30 November 2024

7,383,008

3,183,832

160,761

10,727,601

Depreciation

At 1 December 2023

1,099,539

923,055

85,675

2,108,269

Charge for the year

78,216

207,466

14,054

299,736

Eliminated on disposal

-

(38,645)

(23,791)

(62,436)

At 30 November 2024

1,177,755

1,091,876

75,938

2,345,569

Carrying amount

At 30 November 2024

6,205,253

2,091,956

84,823

8,382,032

At 30 November 2023

6,178,349

2,066,325

44,778

8,289,452

Included within the net book value of land and buildings above is £6,205,253 (2023 - £6,178,349) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's land and buildings was revalued on 14 July 1998 by an independent valuer.
This was carried out by Fleury Manico.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £5,667,816 (2023 - £5,613,297).

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

93,976

87,624

 

Seadown Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Debtors

2024
£

2023
£

Trade debtors

4,000

-

Other debtors

15,414

75,554

Prepayments

17,943

15,830

37,357

91,384

8

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

9

2,569

-

Social security and other taxes

 

58,752

35,475

Other creditors

 

1,484,004

1,293,104

Accruals

 

115,442

119,926

Corporation tax liability

-

15,414

Deferred income

 

38,950

58,917

 

1,699,717

1,522,836

Due after one year

 

Loans and borrowings

9

3,426

-

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

3,426

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,569

-