REGISTERED NUMBER: 01348835 (England and Wales)

Financial Statements for the Year Ended 31 October 2024

for

Eccles Beach Caravan Park Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

5

670

1,340

Tangible assets

6

187,076

136,275

187,746

137,615

Current assets

Stocks

2,338

1,753

Debtors

7

16,563

20,177

Cash at bank and in hand

97,674

117,573

116,575

139,503

Creditors

Amounts falling due within one year

8

(44,872

)

(58,647

)

Net current assets

71,703

80,856

Total assets less current liabilities

259,449

218,471

Creditors

Amounts falling due after more than one year

9

(144,509

)

(109,000

)

Provisions for liabilities

(1,021

)

-

Net assets

113,919

109,471

Capital and reserves

Called up share capital

109

109

Retained earnings

113,810

109,362

113,919

109,471

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:

Mr R J Wood - Director

1.	Statutory information

Eccles Beach Caravan Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01348835

Registered office:

Queens Head House

The Street

Acle

Norwich

Norfolk

NR13 3DY

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income from residents is recognised upon issuing of an annual invoice.

Electricity income from owners is recognised on an annual basis, at the end of the season, upon inspection of the residents' electricity meters and issuing of an invoice.

Commission on caravan purchases is recognised when the purchase invoice is issued to the resident from the supplier.

Revenue from meter collections is recognised when the cash is banked. The meter is emptied either when full or on a monthly basis.

Insurance commissions revenue is recognised upon receipt of the commission into the company bank account from the insurer, usually between 4-6 weeks after the renewal or commencement of insurance policies.

Revenue from Calor gas is recognised on a periodic basis when a batch of dockets is forwarded to the finance director. An invoice will then be raised to the resident and debited to their customer account.

Goodwill

Goodwill being the amount paid in connection with the acquisition of the business in 1978 is being written off evenly over its estimated economic life of 10 years from transition to FRS102 in 2016.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings - 5% on cost

Service installations - 4% on cost

Fixtures and fittings- 25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

4.	Employees and directors

The average number of employees during the year was 5 (2023 - 6 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 November 2023

and 31 October 2024

6,700

Amortisation

At 1 November 2023

5,360

Amortisation for year

670

At 31 October 2024

6,030

Net book value

At 31 October 2024

670

At 31 October 2023

1,340

6.	Tangible fixed assets

Water

Freehold

Plant and

drainage

property

machinery

installations

Totals

£

£

£

£

Cost

At 1 November 2023

140,221

76,014

-

216,235

Additions

-

4,849

54,094

58,943

At 31 October 2024

140,221

80,863

54,094

275,178

Depreciation

At 1 November 2023

34,349

45,611

-

79,960

Charge for year

(2,835

)

8,813

2,164

8,142

At 31 October 2024

31,514

54,424

2,164

88,102

Net book value

At 31 October 2024

108,707

26,439

51,930

187,076

At 31 October 2023

105,872

30,403

-

136,275

7.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

8,729

9,871

Other debtors

3,688

279

Deferred tax asset

-

1,090

Prepayments

4,146

8,937

16,563

20,177

8.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

8,753

-

Accrued expenses

36,119

58,647

44,872

58,647

9.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Debentures

109,000

109,000

Bank loans - 1-2 years

9,641

-

Bank loans - 2-5 years

25,868

-

144,509

109,000

Two hundred and eight first issue debentures were issued pursuant to a resolution of the directors dated 8 February 1978. The debentures are for £500 each and are secured by a floating charge on the company's assets. The debentures are not eligible for interest.

The issue of a second series of debentures on similar terms to the first series was agreed at a director's meeting on 11 July 1993. The total number available for issue is one hundred, of which ten had been issued by the year end. The remaining ninety will be held in abeyance until there is a future need to raise funds.

10.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

44,262

-

The directors have personally guaranteed the Barclays bank loan taken out on 27 February 2024.

11.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Henry Pettitt FCA CTA (Senior Statutory Auditor)

for and on behalf of Stephenson Smart (East Anglia) Ltd East Coast

12.	Ultimate controlling party

There is no ultimate controlling party.