| REGISTERED NUMBER: 08589450 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| FOR |
| LODGE PARK HOLDINGS LIMITED |
| REGISTERED NUMBER: 08589450 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| FOR |
| LODGE PARK HOLDINGS LIMITED |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 5 |
| Consolidated Statement of Comprehensive Income | 9 |
| Consolidated Balance Sheet | 10 |
| Company Balance Sheet | 11 |
| Consolidated Statement of Changes in Equity | 12 |
| Company Statement of Changes in Equity | 13 |
| Consolidated Cash Flow Statement | 14 |
| Notes to the Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Financial Statements | 17 |
| LODGE PARK HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditor |
| Portland House |
| 11-13 Station Road |
| Kettering |
| Northamptonshire |
| NN15 7HH |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| The directors present their strategic report of the company and the group for the year ended 31st March 2025. |
| REVIEW OF BUSINESS |
| Lodge Park Holdings Limited Group is pleased to report its results for the year as shown in the attached financial statements. |
| The principal activities of the group are house building and construction. Its area of activity includes the northern home counties of Cambridgeshire, Buckinghamshire, Oxfordshire, Bedfordshire, Hertfordshire, as well as Northamptonshire. |
| The activities of the group also include the rental of retail and commercial units at St Crispins Local Centre, Northampton. |
| The group works to develop the highest quality of residential housing. Residential development land continues to be sourced and secured across the various regions. |
| The directors are of the opinion that the group is a going concern based on the current order book and current plans and strategy. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| Economic and Market Risk |
| Risk - Poor market confidence and general employment fears impacting on demand for housing. |
| Control - Key economic performance indicators are regularly monitored as well as sales prices and build costs. |
| Funding |
| Risk - Lack of adequate financial resources in order to deliver plans. |
| Control - Cash is actively managed and funding lines are available through major UK based banks. |
| Planning and Regulatory |
| Risk - failure to obtain planning and technical consents associated with new sites |
| Control - Dedicated Management and Technical team of experts which monitors the planning process. |
| FINANCIAL KEY PERFORMANCE INDICATORS |
| The directors have monitored the progress and profit of the group, by reference to certain key performance indicators: |
| -Turnover of £17.80m (2024: £18.77m) |
| -Profit/(Loss) after taxation of £0.597m (2024: £(0.532m)) |
| ON BEHALF OF THE BOARD: |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| The directors present their report with the financial statements of the company and the group for the year ended 31st March 2025. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31st March 2025. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report. |
| DISCLOSURE IN THE STRATEGIC REPORT |
| The report of the directors should be read in conjunction with the strategic report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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; |
| - | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| AUDITORS |
| The auditors, Bewers Turner & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LODGE PARK HOLDINGS LIMITED |
| Opinion |
| We have audited the financial statements of Lodge Park Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31st March 2025 and of the group's 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 group 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 group's and the parent 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 Group 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LODGE PARK HOLDINGS LIMITED |
| 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company 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 three, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LODGE PARK HOLDINGS 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: |
| Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud |
| Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. |
| - We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (Financial Reporting Standard 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the Company has to comply with laws and regulations relating to its operations and health and safety. |
| - We understood how the Company is complying with those frameworks by making enquiries of management to understand how the Company maintains and communicates its policies and procedures in these areas, and corroborated this by reviewing supporting documentation. |
| - We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by considering the risk of management override and determining revenue to be a fraud risk. We tested transactions identified back to independent evidence or source documentation. We obtained third party confirmations directly from the Company's banking partners to verify the cash held at the balance sheet date and the completeness of any commitments or contingencies. |
| - Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of documentation, testing of specific journals identified based upon risk criteria and enquiries of management for correspondence with the relevant authorities. |
| 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 |
| LODGE PARK HOLDINGS 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 |
| Chartered Accountants & Statutory Auditor |
| Portland House |
| 11-13 Station Road |
| Kettering |
| Northamptonshire |
| NN15 7HH |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| CONSOLIDATED |
| STATEMENT OF COMPREHENSIVE |
| INCOME |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| TURNOVER | 3 | 17,078,282 | 18,772,034 |
| Cost of sales | 14,835,880 | 17,842,675 |
| GROSS PROFIT | 2,242,402 | 929,359 |
| Administrative expenses | 1,256,704 | 1,511,942 |
| 985,698 | (582,583 | ) |
| Other operating income | 7,772 | 78,023 |
| OPERATING PROFIT/(LOSS) | 5 | 993,470 | (504,560 | ) |
| Interest payable and similar expenses | 6 | 191,658 | 190,396 |
| PROFIT/(LOSS) BEFORE TAXATION | 801,812 | (694,956 | ) |
| Tax on profit/(loss) | 7 | 204,729 | (162,956 | ) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
597,083 |
(532,000 |
) |
| Profit/(loss) attributable to: |
| Owners of the parent | 597,083 | (532,000 | ) |
| Total comprehensive income attributable to: |
| Owners of the parent | 597,083 | (532,000 | ) |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| CONSOLIDATED BALANCE SHEET |
| 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 | 94,775 | 128,796 |
| Investments | 10 | - | - |
| Investment property | 11 | 4,100,000 | 4,100,000 |
| 4,194,775 | 4,228,796 |
| CURRENT ASSETS |
| Stocks | 12 | 2,019,893 | 2,323,450 |
| Debtors | 13 | 8,662,949 | 7,503,025 |
| Cash at bank and in hand | 2,187,287 | 355,615 |
| 12,870,129 | 10,182,090 |
| CREDITORS |
| Amounts falling due within one year | 14 | 10,359,221 | 8,217,807 |
| NET CURRENT ASSETS | 2,510,908 | 1,964,283 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
6,705,683 |
6,193,079 |
| CREDITORS |
| Amounts falling due after more than one year |
15 |
(1,990,000 |
) |
(2,199,017 |
) |
| PROVISIONS FOR LIABILITIES | 19 | (343,780 | ) | (219,242 | ) |
| NET ASSETS | 4,371,903 | 3,774,820 |
| CAPITAL AND RESERVES |
| Called up share capital | 20 | 4 | 4 |
| Revaluation reserve | 21 | 1,099,635 | 1,099,635 |
| Other reserves | 21 | 341,710 | 341,710 |
| Retained earnings | 21 | 2,930,554 | 2,333,471 |
| SHAREHOLDERS' FUNDS | 4,371,903 | 3,774,820 |
| The financial statements were approved by the Board of Directors and authorised for issue on 11th June 2025 and were signed on its behalf by: |
| Mr JB Barrett - Director |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| COMPANY BALANCE SHEET |
| 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| Investments | 10 |
| Investment property | 11 |
| CURRENT ASSETS |
| Cash in hand |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 20 |
| Retained earnings | 21 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | - | - |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| Called up |
| share | Retained | Revaluation | Other | Total |
| capital | earnings | reserve | reserves | equity |
| £ | £ | £ | £ | £ |
| Balance at 1st April 2023 | 4 | 2,865,471 | 1,099,635 | 341,710 | 4,306,820 |
| Changes in equity |
| Total comprehensive income | - | (532,000 | ) | - | - | (532,000 | ) |
| Balance at 31st March 2024 | 4 | 2,333,471 | 1,099,635 | 341,710 | 3,774,820 |
| Changes in equity |
| Total comprehensive income | - | 597,083 | - | - | 597,083 |
| Balance at 31st March 2025 | 4 | 2,930,554 | 1,099,635 | 341,710 | 4,371,903 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1st April 2023 |
| Changes in equity |
| Balance at 31st March 2024 |
| Changes in equity |
| Balance at 31st March 2025 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 2,155,741 | 307,024 |
| Interest paid | (181,995 | ) | (183,239 | ) |
| Interest element of hire purchase payments paid |
(9,663 |
) |
(7,157 |
) |
| Tax paid | 99,847 | (20,420 | ) |
| Net cash from operating activities | 2,063,930 | 96,208 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (3,705 | ) | (8,544 | ) |
| Sale of tangible fixed assets | - | 28,500 |
| Net cash from investing activities | (3,705 | ) | 19,956 |
| Cash flows from financing activities |
| Loan repayments in year | (210,000 | ) | (210,000 | ) |
| Capital repayments in year | (18,553 | ) | (16,614 | ) |
| Net cash from financing activities | (228,553 | ) | (226,614 | ) |
| Increase/(decrease) in cash and cash equivalents | 1,831,672 | (110,450 | ) |
| Cash and cash equivalents at beginning of year |
2 |
355,615 |
466,065 |
| Cash and cash equivalents at end of year |
2 |
2,187,287 |
355,615 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2025 | 2024 |
| £ | £ |
| Profit/(loss) before taxation | 801,812 | (694,956 | ) |
| Depreciation charges | 37,726 | 48,610 |
| Profit on disposal of fixed assets | - | (19,694 | ) |
| Finance costs | 191,658 | 190,396 |
| 1,031,196 | (475,644 | ) |
| Decrease/(increase) in stocks | 303,557 | (215,079 | ) |
| Increase in trade and other debtors | (1,259,770 | ) | (199,164 | ) |
| Increase in trade and other creditors | 2,080,758 | 1,196,911 |
| Cash generated from operations | 2,155,741 | 307,024 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31st March 2025 |
| 31/3/25 | 1/4/24 |
| £ | £ |
| Cash and cash equivalents | 2,187,287 | 355,615 |
| Year ended 31st March 2024 |
| 31/3/24 | 1/4/23 |
| £ | £ |
| Cash and cash equivalents | 355,615 | 466,065 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1/4/24 | Cash flow | At 31/3/25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 355,615 | 1,831,672 | 2,187,287 |
| 355,615 | 1,831,672 | 2,187,287 |
| Debt |
| Finance leases | (76,105 | ) | 18,553 | (57,552 | ) |
| Debts falling due within 1 year | (210,000 | ) | 60,000 | (150,000 | ) |
| Debts falling due after 1 year | (2,140,000 | ) | 150,000 | (1,990,000 | ) |
| (2,426,105 | ) | 228,553 | (2,197,552 | ) |
| Total | (2,070,490 | ) | 2,060,225 | (10,265 | ) |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Lodge Park Holdings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Basis of consolidation |
| The consolidated financial statements incorporate the financial statements of the company and all group undertakings. These are adjusted, where appropriate, to conform to group accounting policies. Acquisitions are accounted for under the acquisition method. The results of companies acquired or disposed of are included in the profit and loss account after or up to the date that control passes respectively. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006. |
| Significant judgements and estimates |
| In the process of applying the company's accounting policies, with the exception of the investment property and stock, management has made no significant judgements which have a significant effect on the amounts recognised in the financial statements or made any significant estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Rendering of services |
| Turnover from the rendering of services is recognised when the company has performed its obligations. |
| The directors recognise profit on long term contracts when it can be assessed with reasonable certainty. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment property |
| Investment property is shown at Directors estimate of fair value. Any aggregate surplus of deficit arising from changes in fair value is recognised in profit or loss. The directors' estimate has been supported by a bank valuation of the property. |
| 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 Consolidated Statement of Comprehensive Income, 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. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| Financial instruments |
| The company is party to only basic financial instruments such as cash, trade debtors and creditors, and loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as the bank loan, are measured at amortised cost using the effective interest rate. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 3. | TURNOVER |
| The turnover and profit (2024 - loss) before taxation are attributable to the principal activities of the group. |
| An analysis of turnover by geographical market is given below: |
| 2025 | 2024 |
| £ | £ |
| United Kingdom | 17,078,282 | 18,772,034 |
| 17,078,282 | 18,772,034 |
| 4. | EMPLOYEES AND DIRECTORS |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries | 449,106 | 631,892 |
| Social security costs | 44,473 | 79,801 |
| Other pension costs | 103,520 | 118,500 |
| 597,099 | 830,193 |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| Directors | 3 | 3 |
| Technical | 1 | 2 |
| Operations | 1 | 2 |
| Surveyor | 1 | 1 |
| Site manager | 5 | 5 |
| Site staff | 5 | 7 |
| Administration | 5 | 5 |
| Marketing manager | 2 | 3 |
| Directors' remuneration for the year was £199,619 (2024:£302,506). |
| Directors' pension contributions to money purchase schemes during the year was £38,397 (2024: £56,808). |
| The number of directors to whom retirement benefits were accruing was 3 (2024: 3). |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 5. | OPERATING PROFIT/(LOSS) |
| The operating profit (2024 - operating loss) is stated after charging/(crediting): |
| 2025 | 2024 |
| £ | £ |
| Depreciation - owned assets | 37,726 | 48,610 |
| Profit on disposal of fixed assets | - | (19,694 | ) |
| Auditors' remuneration | 15,000 | 8,000 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2025 | 2024 |
| £ | £ |
| Bank interest | 159,817 | 154,465 |
| Bank loan interest | 22,178 | 28,774 |
| Hire purchase | 9,663 | 7,157 |
| 191,658 | 190,396 |
| 7. | TAXATION |
| Analysis of the tax charge/(credit) |
| The tax charge/(credit) on the profit for the year was as follows: |
| 2025 | 2024 |
| £ | £ |
| Current tax: |
| UK corporation tax | 80,191 | (2,195 | ) |
| (Over)/under provision in |
| prior year | - | (17,224 | ) |
| Total current tax | 80,191 | (19,419 | ) |
| Deferred tax | 124,538 | (143,537 | ) |
| Tax on profit/(loss) | 204,729 | (162,956 | ) |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 7. | TAXATION - continued |
| Reconciliation of total tax charge/(credit) included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2025 | 2024 |
| £ | £ |
| Profit/(loss) before tax | 801,812 | (694,956 | ) |
| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) |
200,453 |
(173,739 |
) |
| Effects of: |
| Expenses not deductible for tax purposes | 5,404 | 5,839 |
| Income not taxable for tax purposes | (1,104 | ) | - |
| Depreciation in excess of capital allowances | - | 9,322 |
| Change in future tax rates | (24 | ) | (4,378 | ) |
| Total tax charge/(credit) | 204,729 | (162,956 | ) |
| Deferred tax is made up of a deferred tax asset from Lodge Park Limited as a result of brought forward losses and loesses in the financial year, reduced by a deferred tax provision from Lodge Park St Crispin Limited relating to revaluation of the investment property. Deferred tax is expected to be reversed in 2025. |
| There is no expiry date on timing differences, unused tax losses or tax credits. There are no special circumstances affecting the current year tax charge and none are expected to affect future periods. |
| 8. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 9. | TANGIBLE FIXED ASSETS |
| Group |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2024 | 165,528 | 142,301 | 307,829 |
| Additions | 3,705 | - | 3,705 |
| Disposals | (593 | ) | (16,249 | ) | (16,842 | ) |
| At 31st March 2025 | 168,640 | 126,052 | 294,692 |
| DEPRECIATION |
| At 1st April 2024 | 127,760 | 51,273 | 179,033 |
| Charge for year | 12,464 | 25,262 | 37,726 |
| Eliminated on disposal | (593 | ) | (16,249 | ) | (16,842 | ) |
| At 31st March 2025 | 139,631 | 60,286 | 199,917 |
| NET BOOK VALUE |
| At 31st March 2025 | 29,009 | 65,766 | 94,775 |
| At 31st March 2024 | 37,768 | 91,028 | 128,796 |
| 10. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 10. | FIXED ASSET INVESTMENTS - continued |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: 20 Kent Road, Northampton, Northamptonshire, NN5 4DR |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: 20 Kent Road, Northampton, Northamptonshire, NN5 4DR |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: 20 Kent Road, Northampton, Northamptonshire, NN5 4DR |
| Nature of business: |
| % |
| Class of shares: | holding |
| Joint Venture |
| Hearne Holmes R14 LLP |
| The principle activity is that of property development. |
| The registered office is C/O 29-31 Castle Street, High Wycombe, Buckinghamshire, England, HP13 6RU. |
| There is no investment shown in the balance sheet of the company as Hearne Holmes R14 LLP is a limited liability partnership which therefore has no share capital. |
| At the balance sheet date, the company was owed £745,835 (2024: £935,835) by the LLP. This is included within other debtors. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 11. | INVESTMENT PROPERTY |
| Group |
| Total |
| £ |
| FAIR VALUE |
| At 1st April 2024 |
| and 31st March 2025 | 4,100,000 |
| NET BOOK VALUE |
| At 31st March 2025 | 4,100,000 |
| At 31st March 2024 | 4,100,000 |
| Fair value at 31st March 2025 is represented by: |
| £ |
| Valuation in 2011 | 1,239,473 |
| Valuation in 2013 | 26,707 |
| Valuation in 2014 | (150,000 | ) |
| Valuation in 2019 | 350,000 |
| Cost | 2,633,820 |
| 4,100,000 |
| 12. | STOCKS |
| Group |
| 2025 | 2024 |
| £ | £ |
| Stocks | 2,019,893 | 2,323,450 |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group |
| 2025 | 2024 |
| £ | £ |
| Trade debtors | 4,125,296 | 2,740,815 |
| Other debtors | 3,408,394 | 3,453,244 |
| Directors' current accounts | 1,002,589 | 1,088,779 |
| Corporation tax | 19,419 | 119,265 |
| VAT | 22,535 | 40,939 |
| Prepayments and accrued income | 84,716 | 59,983 |
| 8,662,949 | 7,503,025 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts (see note 16) | 150,000 | 210,000 |
| Hire purchase contracts (see note 17) | 57,552 | 17,088 |
| Trade creditors | 5,672,912 | 5,497,847 |
| Corporation tax | 180,037 | 99,845 |
| PAYE and NIC | 99,940 | 90,691 |
| Other creditors | 3,911,975 | 2,096,494 |
| Pension creditor | 10,949 | 13,916 |
| Accruals and deferred income | 275,856 | 191,926 |
| 10,359,221 | 8,217,807 |
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 16) | 1,990,000 | 2,140,000 |
| Hire purchase contracts (see note 17) | - | 59,017 |
| 1,990,000 | 2,199,017 |
| 16. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank loans | 150,000 | 210,000 |
| Amounts falling due between one and two | years: |
| Bank loans - 1-2 years | - | 2,140,000 |
| Amounts falling due between two and five | years: |
| Bank loans - 2-5 years | 1,990,000 | - |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 17. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase | contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year | 57,552 | 17,088 |
| Between one and five years | - | 59,017 |
| 57,552 | 76,105 |
| Group |
| Non-cancellable | operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year | 37,608 | 45,379 |
| Between one and five years | 16,131 | 32,546 |
| 53,739 | 77,925 |
| 18. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| 2025 | 2024 |
| £ | £ |
| Bank loans | 2,140,000 | 2,350,000 |
| Hire purchase contracts | 57,552 | 76,105 |
| 2,197,552 | 2,426,105 |
| The bank holds a charge over the assets of the company and a proportion of bank loans are secured under the UK government Bounce Back and Coronavirus Business Interruption loan schemes providing a full guarantee on the agreed amount. |
| Hire purchase contracts are secured against the vehicles which they relate to. |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 19. | PROVISIONS FOR LIABILITIES |
| Group |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 343,780 | 219,242 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1st April 2024 | 219,242 |
| Tax Losses | 133,026 |
| Accelerated capital allowances | (8,488 | ) |
| Balance at 31st March 2025 | 343,780 |
| 20. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 4 | 4 |
| The ordinary shares have full voting rights and there are no restrictions on the distribution of dividends or repayment of capital. |
| 21. | RESERVES |
| Group |
| Retained | Revaluation | Other |
| earnings | reserve | reserves | Totals |
| £ | £ | £ | £ |
| At 1st April 2024 | 2,333,471 | 1,099,635 | 341,710 | 3,774,816 |
| Profit for the year | 597,083 | 597,083 |
| At 31st March 2025 | 2,930,554 | 1,099,635 | 341,710 | 4,371,899 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 21. | RESERVES - continued |
| Company |
| Retained |
| earnings |
| £ |
| At 1st April 2024 |
| Profit for the year |
| At 31st March 2025 |
| Retained earnings |
| Includes cumulative realised profit and losses net of dividends paid. |
| Revaluation Reserve |
| Represents unrealised gains on the revaluation of the property offset by the associated deferred tax. |
| Other reserves |
| Represents an unrealised gain on an intra group property transfer. |
| 22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at the balance sheet date the amount due to the company from the directors was £1,002,589 (2024: £1,088,779). |
| Directors' loans are repayable on demand and no interest is being charged on amounts outstanding. |
| 23. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| Other related parties |
| 2025 | 2024 |
| £ | £ |
| Sales | 7,336,613 | 13,674,805 |
| Purchases | 120,000 | 120,000 |
| Amount due from related party | 2,702,206 | 2,331,687 |
| Amount due to related party | 3,870,952 | 1,520,222 |
| LODGE PARK HOLDINGS LIMITED (REGISTERED NUMBER: 08589450) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 23. | RELATED PARTY DISCLOSURES - continued |
| The above represents transactions and balances with companies in which one or more of the company's directors is a director or has an interest. |
| 24. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr JB Barrett and Mr MD Swan. |
| The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is Lodge Park Holdings Limited. |