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Filleted

Registration number: 09367109

LK Holiday Park Limited

trading as Little Kings Holiday Park

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Company Information

Directors

Mr Sean Page

Mrs Amanda Page

Registered office

Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

(Registration number: 09367109)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

451,552

487,889

Current assets

 

Stocks

6

500

500

Debtors

7

3,061

3,294

Cash at bank and in hand

 

61,941

173,071

 

65,502

176,865

Creditors: Amounts falling due within one year

8

(291,449)

(422,765)

Net current liabilities

 

(225,947)

(245,900)

Total assets less current liabilities

 

225,605

241,989

Provisions for liabilities

(35,254)

(35,044)

Net assets

 

190,351

206,945

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

190,349

206,943

Total equity

 

190,351

206,945

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

(Registration number: 09367109)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 31 May 2025 and signed on its behalf by:
 

.........................................
Mr Sean Page
Director

   
     
 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the Board on 31 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% - 33% reducing balance

Furniture, fittings, tools and equipment

20% - 25% reducing balance

Motor vehicles

25% reducing balance

Other property, plant and equipment

2% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

40,252

47,907

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 January 2024

353,850

140,823

394,812

64,766

Additions

-

-

3,916

-

At 31 December 2024

353,850

140,823

398,728

64,766

Depreciation

At 1 January 2024

50,407

97,358

277,214

41,383

Charge for the year

6,069

8,988

19,351

5,845

At 31 December 2024

56,476

106,346

296,565

47,228

Carrying amount

At 31 December 2024

297,374

34,477

102,163

17,538

At 31 December 2023

303,443

43,465

117,598

23,383

Total
£

Cost or valuation

At 1 January 2024

954,251

Additions

3,916

At 31 December 2024

958,167

Depreciation

At 1 January 2024

466,362

Charge for the year

40,253

At 31 December 2024

506,615

Carrying amount

At 31 December 2024

451,552

At 31 December 2023

487,889

Included within the net book value of land and buildings above is £297,374 (2023 - £303,443) in respect of freehold land and buildings.
 

 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Other inventories

500

500

7

Debtors

2024
£

2023
£

Prepayments

3,061

3,294

3,061

3,294

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,343

4,287

Taxation and social security

 

38,649

42,035

Directors' loan accounts

10

199,397

330,685

Corporation tax liability

 

40,983

17,822

Other creditors

 

11,077

27,936

 

291,449

422,765

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

LK Holiday Park Limited

trading as Little Kings Holiday Park

Notes to the Financial Statements for the Year Ended 31 December 2024

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr Sean Page

Interest free loan repayable on demand

(165,343)

120,000

(54,356)

(99,699)

         
       

Mrs Amanda Page

Interest free loan repayable on demand

(165,343)

120,000

(54,356)

(99,699)

         
       

 

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Mr Sean Page

Interest free loan repayable on demand

(239,674)

74,331

(165,343)

       
     

Mrs Amanda Page

Interest free loan repayable on demand

(239,674)

74,331

(165,343)