Company No:
Contents
| Note | 31.12.2024 | 31.12.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| 5,248,167 | 5,362,673 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| 1,117,044 | 1,075,139 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (4,448,812) | (4,358,352) | ||
| Total assets less current liabilities | 799,355 | 1,004,321 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | (
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| Net (liabilities)/assets | (
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account | (
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| Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Ross Park Homes Limited (registered number:
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T R Hardick
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ross Park Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 56 The Square, Chagford, TQ13 8AE, United Kingdom. The principal place of business is The Old Barn, Ipplepen, Newton Abbot, Devon, TQ12 5TT.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Turnover from services is recognised as they are delivered.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Goodwill |
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| Land and buildings |
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| Plant and machinery |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
| 31.12.2024 | 31.12.2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Goodwill | Total | ||
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| Cost | |||
| At 01 January 2024 |
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| At 31 December 2024 |
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| Accumulated amortisation | |||
| At 01 January 2024 |
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| Charge for the financial year |
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| At 31 December 2024 |
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| Net book value | |||
| At 31 December 2024 |
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| At 31 December 2023 |
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| Land and buildings | Plant and machinery | Total | |||
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| Cost | |||||
| At 01 January 2024 |
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| Additions |
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| At 31 December 2024 |
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| Accumulated depreciation | |||||
| At 01 January 2024 |
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| Charge for the financial year |
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| At 31 December 2024 |
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| Net book value | |||||
| At 31 December 2024 | 4,942,143 | 30,899 | 4,973,042 | ||
| At 31 December 2023 | 5,006,949 | 34,099 | 5,041,048 |
| 31.12.2024 | 31.12.2023 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by Group undertakings |
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| Amounts owed by directors |
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| Prepayments |
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| VAT recoverable |
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| Corporation tax |
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| Other debtors |
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| 31.12.2024 | 31.12.2023 | ||
| £ | £ | ||
| Bank loans (secured) |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| Other loans |
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| Accruals and deferred income |
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| Taxation and social security |
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| Other creditors |
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| 31.12.2024 | 31.12.2023 | ||
| £ | £ | ||
| Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 31.12.2024 | 31.12.2023 | ||
| £ | £ | ||
| Bank loans |
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| 31.12.2024 | 31.12.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
During the current year, a loan existed between Brechin Investments Limited and Ross Park Homes Limited. Interest of £119,335 was charged on the loan and the balance is repayable on demand. At the balance sheet date the amount due to Brechin Investments Limited was £3,847,201 (2023: £3,797,644).
Transactions with the entity's directors
During the year a loan existed between the company and a director. The loan is repayable on demand. At the year end, the amount due by the director was £131 (2023: £Nil).
During the year a loan existed between the company and a director's spouse. The loan is repayable on demand. At the year end the amount due to the director's spouse was £300,000 (2023: £300,000).
Other related party transactions
During the current year, a loan existed between Irregular Cornwall Limited and Ross Park Homes Limited. No interest was charged on the loan and the balance is repayable on demand. At the balance sheet date the amount due to Ross Park Homes Limited was £33,971 (2023: £Nil).
During the current year, a loan existed between an associated company, Wilson Leisure Limited and Ross Park Homes Limited. Interest of £47,050 was charged on the loan and the balance is repayable on demand. At the balance sheet date the amount due to Wilson Leisure Limited was £1,215,009 (2023: £1,151,057).