| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 5 |
| Statement of Comprehensive Income | 9 |
| Statement of Financial Position | 10 |
| Statement of Changes in Equity | 11 |
| Statement of Cash Flows | 12 |
| Notes to the Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| Chartered Accountants |
| Douglas Bank House |
| Wigan Lane |
| Wigan |
| Lancashire |
| WN1 2TB |
| BANKERS: |
| 4 Standishgate |
| Wigan |
| Lancashire |
| WN1 1UJ |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STRATEGIC REPORT |
| for the Year Ended 30 September 2024 |
| The directors present their strategic report for the year ended 30 September 2024. |
| REVIEW OF BUSINESS |
| The results for the year are shown in the annexed financial statements and represent a very satisfactory outcome for the year under review. During the year the company produced a profit before taxation of £1,576,412 (2023- £6,543,015). Turnover decreased over the previous year finishing at £21,654,727 (2023 - £40,603,289). |
| 2024 was a challenging year for the business. Turnover reduced in line with decreased demand within the industry. |
| The directors took all necessary measures to meet these challenges and forecast that the company is well- positioned to manage these near-term headwinds and expect the company to continue to operate profitability during the coming year. |
| A top priority for our business continues to be maintaining a safe working environment for our employees. Regular engagement of the board with senior managers underpins this commitment and significant investment has been incurred in upgrading our systems and production line and mechanical handling equipment in furtherance of this objective. |
| Pemberton Park and Leisure Homes Limited is committed to substantial investment in product design and innovation to maintain its reputation and competitive position in the marketplace. |
| Key performance indicators |
| The company's principal key performance indicators during the year were as follows: |
| 2024 | 2023 |
| £'000 | £'000 |
| Sales | 21,655 | 40,603 |
| Gross margin | 6,090 | 12,654 |
| EBITDA | 1,599 | 6,811 |
| Net assets | 26,734 | 27,472 |
| The board and senior management also monitor operational efficiency and utilisation of resources by reference to other financial and non-financial performance indicators in such areas as sales, production, procurement, customer service, quality assurance, health and safety and overheads. |
| Future Developments |
| The Directors anticipate that markets conditions will remain challenging for the year ahead with economic stability and confidence being a dominant factor. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The company operates in a competitive market but reduces this risk by maintaining close relationships with customers and suppliers and developing award winning products. Ongoing investment and commitment to a process of continual improvement and development ensures that our product range is continually being updated and maintains it's market leading appeal. |
| Credit risk is managed by strict evaluation and assessment protocols and rigorous collection procedures. |
| Cashflow and liquidity risk is closely monitored by The Directors to ensure all current and future obligations are adequately funded. |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STRATEGIC REPORT |
| for the Year Ended 30 September 2024 |
| FIXED ASSETS |
| The changes in fixed assets, details of which are set out in the notes to the annexed financial statements, arose out of normal business requirements. |
| ON BEHALF OF THE BOARD: |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| REPORT OF THE DIRECTORS |
| for the Year Ended 30 September 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of the manufacture and sale of caravan holiday homes and residential park homes. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 30 September 2024 will be £1,954,476 (2023 - £879,514). |
| Following the year end the company declared additional dividends of £2,443,095 relating to the 2025 financial statements. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| Opinion |
| We have audited the financial statements of Pemberton Park and Leisure Homes Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| we identified the laws and regulations applicable to the company through discussions with directors and other management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation and Health and Safety regulations. |
| - we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance. |
| We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
| - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. |
| - we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above; |
| - we enquired of the directors about actual and potential litigation and claims. |
| Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PEMBERTON PARK AND LEISURE HOMES LIMITED |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditor |
| Chartered Accountants |
| Douglas Bank House |
| Wigan Lane |
| Wigan |
| Lancashire |
| WN1 2TB |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STATEMENT OF COMPREHENSIVE |
| INCOME |
| for the Year Ended 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Distribution costs |
| Administrative expenses |
| 4,909,604 | 6,225,116 |
| 1,179,901 | 6,428,750 |
| Other operating income |
| OPERATING PROFIT |
| Interest receivable and similar income |
| 1,556,762 | 6,543,215 |
| Interest payable and similar expenses | 5 | ( |
) |
| PROFIT BEFORE TAXATION | 6 |
| Tax on profit | 7 |
| PROFIT FOR THE FINANCIAL YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STATEMENT OF FINANCIAL POSITION |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Stocks | 10 |
| Debtors | 11 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 12 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 14 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Capital redemption reserve | 16 |
| Retained earnings | 16 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STATEMENT OF CHANGES IN EQUITY |
| for the Year Ended 30 September 2024 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 October 2022 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2024 |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| STATEMENT OF CASH FLOWS |
| for the Year Ended 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Interest received |
| Net cash from investing activities | ( |
) |
| Cash flows from financing activities |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
6,465,473 |
| Cash and cash equivalents at end of year | 2 | 12,309,388 | 9,302,199 |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE STATEMENT OF CASH FLOWS |
| for the Year Ended 30 September 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Loss/(profit) on disposal of fixed assets | ( |
) |
| Finance costs | (19,650 | ) | 200 |
| Finance income | (340,530 | ) | (60,080 | ) |
| 1,598,513 | 6,811,345 |
| Decrease in stocks |
| Decrease/(increase) in trade and other debtors | ( |
) |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
| Year ended 30 September 2024 |
| 30/9/24 | 1/10/23 |
| £ | £ |
| Cash and cash equivalents | 12,309,388 | 9,302,199 |
| Year ended 30 September 2023 |
| 30/9/23 | 1/10/22 |
| £ | £ |
| Cash and cash equivalents | 9,302,199 | 6,465,473 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1/10/23 | Cash flow | At 30/9/24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 9,302,199 | 3,007,189 | 12,309,388 |
| 9,302,199 | 12,309,388 |
| Total | 9,302,199 | 3,007,189 | 12,309,388 |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Pemberton Park and Leisure Homes Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: |
| a) Useful economic lives |
| The useful economic lives of tangible fixed assets are assessed on an annual basis on the latest available information. Management believe that the useful economic lives being used currently are still appropriate. |
| b) Warranty provision |
| The warranty provision is estimated using information and assessments by experienced management. The basis on which this is calculated is set out in the accounting policies for provisions for liabilities. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for goods provided and is shown net of VAT. |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer, this is ordinarily on the raising of a sales invoice. |
| Tangible fixed assets |
| Fixed assets are recorded at cost less depreciation and any impairment. |
| Depreciation is provided at the following annual rates in order to write off the cost less any estimated residual value of each asset over it's estimated useful life. |
| Improvements to property | - 15% | on reducing balance |
| Fixed Plant | - 15% | on reducing balance |
| Plant and machinery | - 20% | on reducing balance |
| Fixtures and fittings | - 20% | on cost |
| Motor vehicles | - 33% | on reducing balance |
| Computer equipment | - 33% | on cost |
| Impairment of assets |
| At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks, work in progress and finished goods |
| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. |
| Work in progress and finished goods are valued at the lower of cost and net realisable value. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress or finished goods. |
| Revenue is recognised from the sale of goods when the company has transferred the significant risks and rewards of ownership to the customer. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Short term employee benefits are recognised as an expense in the period in which they are incurred. |
| Financial instruments |
| The company only holds basic financial instruments, as defined under Section 11 of FRS 102. |
| Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Short term financial liabilities, including trade and other creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method. |
| Taxation |
| Taxation expense represents the sum of the current and deferred tax payable. |
| Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting period using the tax rates and laws that have been enacted or substantively enacted at the reporting date. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| reporting date. |
| Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Provisions for liabilities |
| Warranty provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
| Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| All of the company's turnover is within the UK and EU. |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Administration | 31 | 33 |
| Production | 130 | 201 |
| 2024 | 2023 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Dealer stock financing charge | ( |
) |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 6. | PROFIT BEFORE TAXATION |
| The profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| Loss/(profit) on disposal of fixed assets | ( |
) |
| Auditors' remuneration |
| Operating lease rentals - land & buildings |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Overprovision in prior years | (34,279 | ) | (774,828 | ) |
| Total current tax |
| Deferred tax | ( |
) |
| Tax on profit |
| UK corporation tax has been charged at 25% (2023 - 22%). |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Fixed asset differences | (69,134 | ) | (94,798 | ) |
| Remeasurement of deferred tax for changes in tax rates | 67,473 | 129,255 |
| Over provision from prior periods | (34,279 | ) | (774,828 | ) |
| Total tax charge | 359,598 | 705,451 |
| 8. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Ordinary shares of £1 each |
| Dividends paid |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 9. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Fixed | Plant and |
| property | plant | machinery |
| £ | £ | £ |
| COST |
| 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 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| 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 |
| 10. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Raw materials |
| Work-in-progress |
| Finished goods |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 13. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 14. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 239,340 | 306,813 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 |
| Credit to Statement of Comprehensive Income during year | ( |
) |
| Balance at 30 September 2024 |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 325,746 | 325,746 |
| PEMBERTON PARK AND LEISURE HOMES LIMITED (REGISTERED NUMBER: 01505786) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 15. | CALLED UP SHARE CAPITAL - continued |
| The holders of the ordinary shares are entitled to receive dividends and to vote at the meetings of the company. |
| Called up share capital represents the nominal value of shares that have been issued. |
| 16. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 27,146,064 |
| Profit for the year | - |
| Dividends | ( |
) | - | ( |
) |
| At 30 September 2024 | 26,408,402 |
| Retained earnings includes all current and prior retained profits and losses. |
| 17. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds.Contributions to the scheme amounted to £109,990 (2023 - £157,002) and as at the year end there were £8,142 (2023 - £13,117) of unpaid contributions. |
| 18. | ULTIMATE PARENT COMPANY |
| 77.45% (2023 - 77.45%) of the issued share capital of the company is owned by Pemberton Caravans Limited, which is a wholly owned subsidiary of Kermandine Limited. |
| Kermandine Limited prepares group financial statements copies of which can be obtained from Woodhouse Lane, Wigan, Lancashire WN6 7NF. |
| Both companies are registered in England and Wales. |
| 19. | RELATED PARTY DISCLOSURES |
| An annual rental of £539,234 (2023 - £537,915) is payable to the parent company. At the year end an amount of £161,713 (2023 - £161,384) remained outstanding. |
| Management charges of £144,000 (2023 - £255,000) were raised by the parent company, in respect of management services. At the year end £12,000 (2023 - £126,666) remains outstanding at the year end. |
| Included in the dividend paid of £1,954,476 (2023 - £879,514) are the following:- |
| £1,513,734 (2023 - £681,180) paid to it's parent company. |
| £440,742 (2023 - £198,334) paid to shareholders and directors of the company. |
| 20. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of the directors. |