Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30true2023-10-01false55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09760703 2023-10-01 2024-09-30 09760703 2022-10-01 2023-09-30 09760703 2024-09-30 09760703 2023-09-30 09760703 c:Director2 2023-10-01 2024-09-30 09760703 d:Buildings 2023-10-01 2024-09-30 09760703 d:Buildings 2024-09-30 09760703 d:Buildings 2023-09-30 09760703 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:PlantMachinery 2023-10-01 2024-09-30 09760703 d:PlantMachinery 2024-09-30 09760703 d:PlantMachinery 2023-09-30 09760703 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:OfficeEquipment 2023-10-01 2024-09-30 09760703 d:OfficeEquipment 2024-09-30 09760703 d:OfficeEquipment 2023-09-30 09760703 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:ComputerEquipment 2023-10-01 2024-09-30 09760703 d:ComputerEquipment 2024-09-30 09760703 d:ComputerEquipment 2023-09-30 09760703 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 09760703 d:OtherPropertyPlantEquipment 2024-09-30 09760703 d:OtherPropertyPlantEquipment 2023-09-30 09760703 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09760703 d:CurrentFinancialInstruments 2024-09-30 09760703 d:CurrentFinancialInstruments 2023-09-30 09760703 d:Non-currentFinancialInstruments 2024-09-30 09760703 d:Non-currentFinancialInstruments 2023-09-30 09760703 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09760703 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09760703 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 09760703 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 09760703 d:ShareCapital 2024-09-30 09760703 d:ShareCapital 2023-09-30 09760703 d:RevaluationReserve 2024-09-30 09760703 d:RevaluationReserve 2023-09-30 09760703 d:RetainedEarningsAccumulatedLosses 2024-09-30 09760703 d:RetainedEarningsAccumulatedLosses 2023-09-30 09760703 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-09-30 09760703 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 09760703 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09760703 c:OrdinaryShareClass1 2024-09-30 09760703 c:OrdinaryShareClass1 2023-09-30 09760703 c:OrdinaryShareClass2 2023-10-01 2024-09-30 09760703 c:OrdinaryShareClass2 2024-09-30 09760703 c:OrdinaryShareClass2 2023-09-30 09760703 c:FRS102 2023-10-01 2024-09-30 09760703 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09760703 c:FullAccounts 2023-10-01 2024-09-30 09760703 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09760703 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 09760703 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 09760703 d:RetirementBenefitObligationsDeferredTax 2024-09-30 09760703 d:RetirementBenefitObligationsDeferredTax 2023-09-30 09760703 d:OtherDeferredTax 2024-09-30 09760703 d:OtherDeferredTax 2023-09-30 09760703 2 2023-10-01 2024-09-30 09760703 5 2023-10-01 2024-09-30 09760703 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 09760703









LIFESTYLE PARK HOMES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
LIFESTYLE PARK HOMES LIMITED
REGISTERED NUMBER: 09760703

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,704,754
3,707,594

  
3,704,754
3,707,594

Current assets
  

Stocks
 5 
279,566
279,844

Debtors: amounts falling due within one year
 6 
19,746
15,993

Cash at bank and in hand
  
62,871
36,380

  
362,183
332,217

Creditors: amounts falling due within one year
 7 
(155,221)
(195,025)

Net current assets
  
 
 
206,962
 
 
137,192

Total assets less current liabilities
  
3,911,716
3,844,786

Creditors: amounts falling due after more than one year
 8 
(950,000)
(950,000)

Provisions for liabilities
  

Deferred tax
 10 
(501,508)
(502,220)

  
 
 
(501,508)
 
 
(502,220)

Net assets
  
2,460,208
2,392,566


Capital and reserves
  

Called up share capital 
 11 
1,765
1,765

Revaluation reserve
  
1,635,556
1,635,556

Profit and loss account
  
822,887
755,245

  
2,460,208
2,392,566


Page 1

 
LIFESTYLE PARK HOMES LIMITED
REGISTERED NUMBER: 09760703

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 June 2025.




................................................
Mr C M Berryman
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Lifestyle Park Homes Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is The Beeches, Rotherfield Lane, Mayfield, East Sussex, TN20 6ET. 
The principal activity of the Company continued to be the ownership and management of a permanent residents retirement park.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading and continued support from the directors for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise. 
The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Pitch Fees, Recharges and Commissions are recognised on an accruals basis in the period to which they relate.
Sales of mobile homes are recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place. 
 

 
2.4

INTEREST INCOME

Interest income is recognised in the statement of comprehensive income using the effective interest method.

Page 3

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

FINANCE COSTS

Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the statement of comprehensive income they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

CORPORATION AND DEFERRED TAXATION

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.8
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
25% Straight line
Office equipment
-
25% Straight line
Computer equipment
-
20% Reducing balance
Other fixed assets
-
25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the statement of income and retained earnings.

 
2.9

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the statement of income and retained earnings.

 
2.10

STOCKS AND WORK IN PROGRESS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value.

Page 5

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value.

 
2.13

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Statement of Income and Retained Earnings.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 6
 


 
LIFESTYLE PARK HOMES LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4.


TANGIBLE FIXED ASSETS






Freehold property
Plant and machinery
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£
£



COST 


At 1 October 2023
3,702,000
3,541
14,974
1,985
52,500
3,775,000


Additions
-
-
916
-
-
916


Disposals
-
-
(923)
(762)
-
(1,685)



At 30 September 2024

3,702,000
3,541
14,967
1,223
52,500
3,774,231



Depreciation


At 1 October 2023
-
2,773
10,913
1,219
52,500
67,405


Charge for the year on owned assets
-
747
2,126
100
-
2,973


Disposals
-
-
(404)
(497)
-
(901)



At 30 September 2024

-
3,520
12,635
822
52,500
69,477



Net book value



At 30 September 2024
3,702,000
21
2,332
401
-
3,704,754



At 30 September 2023
3,702,000
768
4,061
766
-
3,707,595

Page 7
 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Cost or valuation at 30 September 2024 is as follows:

Land and buildings
£


At cost
1,565,616
At valuation:

30/09/2024
2,136,384



3,702,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
1,565,616
1,565,616

Net book value
1,565,616
1,565,616

The freehold property was valued by the directors as at 30 September 2024. The directors have considered the valuaton and believe there to be no change in valaution. 


5.


STOCKS AND WORK IN PROGRESS

2024
2023
£
£

Work in progress
167,285
188,195

Stock
112,281
91,649

279,566
279,844



6.


DEBTORS

2024
2023
£
£


Trade debtors
6,574
3,829

Other debtors
8,919
7,973

Prepayments and accrued income
4,253
4,191

19,746
15,993


Page 8

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,486
6,238

Corporation tax
20,034
27,569

Other taxation and social security
340
-

Other creditors
131,186
157,209

Accruals and deferred income
2,175
4,009

155,221
195,025



8.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Other loans
950,000
950,000



9.


FINANCIAL INSTRUMENTS

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
62,871
62,871




Financial assets measured at fair value through profit or loss comprise...


10.


DEFERRED TAXATION




2024


£






At beginning of year
(502,220)


Charged to profit or loss
712



At end of year
(501,508)

Page 9

 
LIFESTYLE PARK HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
10.DEFERRED TAXATION (CONTINUED)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(689)
(1,399)

Pension surplus
8
6

Revaluation of freehold property
(500,827)
(500,827)

(501,508)
(502,220)


11.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



900 (2023 - 900) Ordinary A shares of £1.00 each
900
900
865 (2023 - 865) Ordinary B shares of £1.00 each
865
865

1,765

1,765



12.


PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the Company and amounted to £570 (2023 - £607). Contributions totalling £33 (2023 - £26) were payable at the balance sheet date and are included in creditors.


13.


RELATED PARTY TRANSACTIONS

The amount owed to the Directors at the year end was £113,232 (2023 - £113,748). These loans are shown within debtors and creditors and they are interest free and repayable on demand. 
The Company has an unsecured loan which it owes to a company owned by a close relative of the director. The loan is for £950,000 and interest is charged at 2.5% above base rate. 


14.


CONTROLLING PARTY

The ultimate controlling joint parties are Mr and Mrs Berryman by way of their 100% shareholdings in Lifestyle Park Homes Limited. 


Page 10