| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| HIGHLANDS END FARM CARAVAN PARK LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| HIGHLANDS END FARM CARAVAN PARK LIMITED |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HIGHLANDS END FARM CARAVAN PARK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| The Old School House |
| Bridge Road |
| Hunton Bridge |
| Kings Langley |
| Hertfordshire |
| WD4 8SZ |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Highlands End Farm Caravan Park Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced site fees and sales of goods, excluding Value Added Tax. |
| The company recognises revenue as follows: |
| Holiday home sales are recognised in the month in which the customer handover occurs. |
| Pitch fees, rates and insurance billed are recognised in the period to which they relate. |
| Holiday revenue is recognised in the month in which the the holiday ends. |
| Turnover relating to shops, bars, food outlets, fitness club, swimming pool and other incidentals are recognised on receipt. |
| Commission income is recognised in the period to which the sale relates. |
| Farming income comprises of the sale of livestock and is recognised at the point of sale. |
| Deferred income represents amounts received relating to future periods and is released to turnover in the period for which it has been received. |
| Accrued income represents services provided during the period which were not invoiced at the year end. |
| Goodwill |
| Goodwill has been written off over 30 years this being, in the opinion of the directors, its economic useful life. |
| Intangible assets |
| Intangible assets (including website costs) are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Development costs are written off as incurred. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
| Park improvements | 10% reducing balance or straight line over deemed useful life |
| Caravans and vehicles | 25% reducing balance or straight line over deemed useful life |
| Computer equipment | 33.33% straight line |
| Fixtures and equipment | 25% straight line |
| Freehold buildings | 2% straight line |
| No depreciation is provided on freehold land. |
| In the year, the company has updated the policy on the depreciation of Park Improvements, specifically the estimate of deemed useful life. The company now considers the estimate of useful life over a period of 14 years a better reflection of both the quality of the improvements made along with the way the parks are maintained. This is reflected in this years accounts. |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost is defined in relation to the different categories of stock as being that expenditure which has been incurred in the normal course of business in bringing the produce to its present location and condition. Such costs included the initial purchase price, including duties, transport and handling costs, less trade discounts, rebates and subsidies. Net realisable value is the estimated proceeds of sales of the stock items, less all costs to the incurred in marketing, selling and distributing said items. |
| Livestock that is bought is valued at the lower of cost and net realisable value. Livestock that is birthed is valued at net realisable value less any costs of sale. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Leases |
| All leases held by the company are regarded as operating leases and the total payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| Additions |
| At 30th September 2024 |
| AMORTISATION |
| At 1st October 2023 |
| Amortisation for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| Freehold | equipment, |
| property | vehicles |
| and park | and |
| improvements | caravans | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| The cost of freehold buildings on which depreciation is charged amounted to £2,347,786 (2023: £2,347,78) |
| 6. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Goods for resale | 173,510 | 250,990 |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| Other debtors include £734,365 (2023: £731,226) owed by three companies where V A Cox and M J Cox are directors. |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 152,503 | 113,868 |
| Other creditors |
| Payments on Account | - | 1,616 |
| Directors' current accounts | 498,734 | 338,241 |
| Accruals and deferred income |
| Other creditors include £378 (2023: £nil) owed to a company where V A Cox and M J Cox are directors. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| HIGHLANDS END FARM CARAVAN PARK LIMITED (REGISTERED NUMBER: 01039946) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | RELATED PARTY DISCLOSURES |
| Included within Other Debtors is a loan owed from West Dorset Leisure Holidays Limited amounting to £223,826 (2023: £221,095). West Dorset Leisure Holidays Limited is related by virtue of common ownership and control. A company in which Mr M Cox and Mrs V Cox are directors and shareholders. The loan is repayable on demand. |
| Included within Other Debtors is a loan owed from Eype House Holiday Park Limited amounting to £510,131 (2023: £510,131). Eype House Holiday Park Limited is related by virtue of related party ownership and control with close family members.The loan is repayable on demand. |
| Included within Other Debtors is a loan owed from Graston Copse Holiday Park Limited amounting to £409 (2023: £nil). Graston Copse Holiday Park Limited is related by virtue of related party ownership and control with close family members.The loan is repayable on demand. |
| Included within Other Creditors is a loan owing to Larkfield Caravan Park Limited amounting to £378 (2023: £nil). Larkfield Caravan Park Limited is related by virtue of related party ownership and control with close family members.The loan is repayable on demand. |
| The company charges management fees totalling £49,000 (2023: £61,000) to five related companies; Sandyholme Holiday Caravan Park Limited, Larkfield Caravan Park Limited, Graston Copse Holiday Park Limited, West Dorset Leisure Holidays Limited and Eype House Holiday Park Limited. The first four listed are related companies owned under common control (companies in which Mr M Cox and Mrs V Cox are directors and/or shareholders). Eype House Holiday Park Limited is related by virtue of related party ownership and control with close family members. |
| The directors consider that overall it is unnecessary to provide for interest on loans between related companies, as any such provision would be immaterial for the year under review. |
| Related party transactions throughout the year were concluded under normal market conditions. |
| 11. | ULTIMATE CONTROLLING PARTY |
| Highlands End Farm Caravan Park Limited is controlled by V A Cox, director of the company. |
| 12. | GUARANTEES |
| The company has given a composite guarantee in respect of borrowings by five related companies, Sandyholme Holiday Park Limited, Larkfield Caravan Park Limited, Graston Copse Holiday Park Limited, West Dorset Leisure Holidays Limited and Eype House Holiday Park Limited |