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Registered number: 04689854










HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
REGISTERED NUMBER: 04689854

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,181
3,553

Tangible assets
 5 
1,543,741
2,009,360

  
1,546,922
2,012,913

Current assets
  

Stocks
  
32,175
2,500

Debtors: amounts falling due within one year
 6 
8,100
40,788

Cash at bank and in hand
  
685,477
647,278

  
725,752
690,566

Creditors: amounts falling due within one year
 7 
(505,234)
(541,570)

Net current assets
  
 
 
220,518
 
 
148,996

Total assets less current liabilities
  
1,767,440
2,161,909

Creditors: amounts falling due after more than one year
 8 
(413,766)
(455,376)

Provisions for liabilities
  

Deferred tax
  
(35,697)
(47,278)

  
 
 
(35,697)
 
 
(47,278)

Net assets
  
1,317,977
1,659,255


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,317,877
1,659,155

  
1,317,977
1,659,255


Page 1

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
REGISTERED NUMBER: 04689854
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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 income statement 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: 




................................................
Mr G T Lomax
................................................
Mr C G Lomax
Director
Director


Date: 11 August 2025

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

Page 2

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Happisburgh Estates (Caravan Park) Limited is a private company limited by shares and incorporated in England and Wales, registration number 04689854. The registered office is 80 Grove Lane, Holt, Norfolk, NR25 6ED. 

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

 
2.2

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

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

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year 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 4

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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 provided on the following basis:

Freehold property
-
0% & 10% straight line
Plant & machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, If the asset were already of the age and in the condition expected at the end of its useful life. 
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase.
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.

 
2.11

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.

 
2.12

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.

Page 5

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

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 5 (2024 - 5).

Page 6

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Intangible assets




Website Costs

£



Cost


At 1 April 2024
3,721



At 31 March 2025

3,721



Amortisation


At 1 April 2024
168


Charge for the year on owned assets
372



At 31 March 2025

540



Net book value



At 31 March 2025
3,181



At 31 March 2024
3,553



Page 7

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2024
2,210,553
88,826
53,074
76,997
2,429,450


Additions
-
-
-
1,723
1,723


Disposals
(460,489)
-
-
-
(460,489)



At 31 March 2025

1,750,064
88,826
53,074
78,720
1,970,684



Depreciation


At 1 April 2024
285,376
58,260
19,538
56,916
420,090


Charge for the year on owned assets
36,174
4,583
8,676
3,273
52,706


Disposals
(45,853)
-
-
-
(45,853)



At 31 March 2025

275,697
62,843
28,214
60,189
426,943



Net book value



At 31 March 2025
1,474,367
25,983
24,860
18,531
1,543,741



At 31 March 2024
1,925,177
30,566
33,536
20,081
2,009,360

Page 8

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Debtors

2025
2024
£
£


Trade debtors
934
33,683

Other debtors
750
-

Prepayments and accrued income
6,416
7,105

8,100
40,788



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
40,844
39,543

Trade creditors
18,960
3,247

Corporation tax
78,230
72,084

Other taxation and social security
17,563
19,828

Other creditors
319
21,446

Accruals and deferred income
349,318
385,422

505,234
541,570



8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
413,766
455,376

413,766
455,376


Page 9

 
HAPPISBURGH ESTATES (CARAVAN PARK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
40,844
39,543


40,844
39,543


Amounts falling due 2-5 years

Bank loans
413,766
455,376


413,766
455,376


454,610
494,919


The bank loans are secured against the property owned by the company.


10.


Related party transactions

Included in other creditors are amounts due to the directors by the company totalling £319 (2024: £21,446).

 
Page 10