Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31252024-01-01falseThe principal activity of the Company is the running of leisure parks and the sales of holiday homes and related equipment.29truetruefalse 03039645 2024-01-01 2024-12-31 03039645 2023-01-01 2023-12-31 03039645 2024-12-31 03039645 2023-12-31 03039645 c:Director3 2024-01-01 2024-12-31 03039645 d:Buildings 2024-01-01 2024-12-31 03039645 d:Buildings 2024-12-31 03039645 d:Buildings 2023-12-31 03039645 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03039645 d:PlantMachinery 2024-01-01 2024-12-31 03039645 d:PlantMachinery 2024-12-31 03039645 d:PlantMachinery 2023-12-31 03039645 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03039645 d:MotorVehicles 2024-01-01 2024-12-31 03039645 d:MotorVehicles 2024-12-31 03039645 d:MotorVehicles 2023-12-31 03039645 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03039645 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03039645 d:CurrentFinancialInstruments 2024-12-31 03039645 d:CurrentFinancialInstruments 2023-12-31 03039645 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03039645 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03039645 d:ShareCapital 2024-12-31 03039645 d:ShareCapital 2023-12-31 03039645 d:CapitalRedemptionReserve 2024-01-01 2024-12-31 03039645 d:CapitalRedemptionReserve 2024-12-31 03039645 d:CapitalRedemptionReserve 2023-12-31 03039645 d:RevaluationReserve 2024-01-01 2024-12-31 03039645 d:RevaluationReserve 2024-12-31 03039645 d:RevaluationReserve 2023-12-31 03039645 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03039645 d:RetainedEarningsAccumulatedLosses 2024-12-31 03039645 d:RetainedEarningsAccumulatedLosses 2023-12-31 03039645 c:OrdinaryShareClass1 2024-01-01 2024-12-31 03039645 c:OrdinaryShareClass1 2024-12-31 03039645 c:OrdinaryShareClass1 2023-12-31 03039645 c:FRS102 2024-01-01 2024-12-31 03039645 c:Audited 2024-01-01 2024-12-31 03039645 c:FullAccounts 2024-01-01 2024-12-31 03039645 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03039645 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03039645 5 2024-01-01 2024-12-31 03039645 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 03039645 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03039645 d:OtherDeferredTax 2024-12-31 03039645 d:OtherDeferredTax 2023-12-31 03039645 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03039645










BYWATER LEISURE PARKS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BYWATER LEISURE PARKS LIMITED
REGISTERED NUMBER: 03039645

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,960,514
8,989,046

  
8,960,514
8,989,046

Current assets
  

Stocks
  
659,945
1,023,296

Debtors: amounts falling due within one year
 5 
95,106
500,801

Cash at bank and in hand
 6 
1,858
2,421

  
756,909
1,526,518

Creditors: amounts falling due within one year
 7 
(494,586)
(773,339)

Net current assets
  
 
 
262,323
 
 
753,179

Total assets less current liabilities
  
9,222,837
9,742,225

Provisions for liabilities
  

Deferred tax
 8 
(1,528,284)
(1,519,449)

  
 
 
(1,528,284)
 
 
(1,519,449)

Net assets
  
7,694,553
8,222,776

Page 1

 
BYWATER LEISURE PARKS LIMITED
REGISTERED NUMBER: 03039645
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 9 
8,000
8,000

Revaluation reserve
 10 
4,751,747
4,751,747

Capital redemption reserve
 10 
2,000
2,000

Profit and loss account
 10 
2,932,806
3,461,029

  
7,694,553
8,222,776


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 by: 




................................................
D W Roberts
Director

Date: 2 April 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bywater Leisure Parks Limited (03039645) is a private company, limited by shares, incorporated and domiciled in England and Wales, with its registered office and principal place of business at Emstrey, Shrewsbury, Shropshire, SY5 6QS.
The principal activity of the Company is the running of leisure parks and the sale of holiday homes and related equipment. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

The Company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate within the level of its current facilities.
The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Page 3

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue 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. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current 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 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.


Page 5

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold land and buildings
-
not depreciated
Plant & machinery
-
25% - 33%
Motor vehicles
-
25%

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 profit or loss.

Freehold buildings are not depreciated on the grounds that the residual values will at least be equal to the carrying values in the financial statements.

 
2.8

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 reporting 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 profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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 profit or loss.

Page 6

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 29).

Page 7

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Freehold land and buildings
Plant & Machinery
Motor Vehicles
Total

£
£
£
£



Cost or valuation


At 1 January 2024
8,825,000
453,730
93,469
9,372,199


Additions
-
77,727
-
77,727


Disposals
-
(8,628)
-
(8,628)



At 31 December 2024

8,825,000
522,829
93,469
9,441,298



Depreciation


At 1 January 2024
-
327,807
55,346
383,153


Charge for the year on owned assets
-
91,717
14,542
106,259


Disposals
-
(8,628)
-
(8,628)



At 31 December 2024

-
410,896
69,888
480,784



Net book value



At 31 December 2024
8,825,000
111,933
23,581
8,960,514



At 31 December 2023
8,825,000
125,923
38,123
8,989,046

Land and buildings are held at valuation and were valued on 23 April 2023 by Savills (UK) Limited, an independent firm of chartered surveyors, on an open market basis. 

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
2,742,368
2,742,368

Net book value
2,742,368
2,742,368

Page 8

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,183
3,320

Amounts owed by group undertakings
-
414,753

Other debtors
46,242
42,901

Prepayments and accrued income
47,681
39,827

95,106
500,801



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,858
2,421

Less: bank overdrafts
(72,472)
(170,775)

(70,614)
(168,354)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
72,472
170,775

Payments received on account
231,767
281,538

Trade creditors
105,142
106,820

Corporation tax
78,386
71,567

Accruals and deferred income
6,819
142,639

494,586
773,339


Page 9

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Deferred taxation




2024


£






At beginning of year
(1,519,449)


Charged to the profit or loss
(8,835)



At end of year
(1,528,284)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(197,398)
(188,563)

Revaluation of properties
(1,330,886)
(1,330,886)

(1,528,284)
(1,519,449)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



8,000 (2023 - 8,000) Ordinary shares of £1.00 each
8,000
8,000


Page 10

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Reserves

Revaluation reserve

The revaluation reserve represents movements in the valuation of the Company's properties in excess of historic cost.

Capital redemption reserve

The capital redemption reserve account represents the amount paid by the Company to repurchase its shares in excess of their par value.

Profit & loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.


11.


Contingent liabilities

A contingent liability exists with the parent Company, Salop Leisure Holdings Limited whereby there is a unlimited inter company composite guarantee between Salop Leisure Holdings Limited, Salop Leisure Limited and Bywater Leisure Parks Limited.
The bank have the following security:
A legal charge over Morben Isaf.
A legal charge over the west side of the road from Talisiein to Machynlleth.
A legal charge over the north side of Morben Isaf.
A legal charge over Tyn y Celyn, Manafon, Welshpool.
A legal charge over Gwernydd Park.
A debenture charge over all fixed assets held by Bywater Leisure Parks Limited.

Page 11

 
BYWATER LEISURE PARKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Related party transactions

As the Company is a wholly owned subsidiary of Salop Leisure Holdings Limited, the Company has taken advantage of the exemption contained in FRS102 and has therefore not disclosed transactions or balances with its parent company or other wholly owned members of the group. The Group consolidated financial statements of Salop Leisure Holdings Limited, the ultimate parent Company, can be obtained from Companies House.
During the year, the Company made purchases totaling £74,383 (2023: £54,352) from Salop Caravans (Sites) Limited, a Company with common directors. Sales of £4,250 (2023: £17,750) were made to Salop Caravan (Sites) Limited during the year. There were no outstanding balances at year end.


13.


Controlling party

The immediate and ultimate parent undertaking is Salop Leisure Holdings Limited, a company incorporated and registered in England and Wales with its registered office located at Emstrey, Shrewsbury, Shropshire, SY5 6QS.
The Company is under the control of A T Bywater (Director), M E Bebb (Director) and D W Roberts (Director) by virtue of their interests in the controlling shares of Salop Leisure Holdings Limited.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 9 April 2025 by John Fletcher BA(Hons) FCA (Senior Statutory Auditor) on behalf of WR Partners.

 
Page 12