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Registered number: 13052677
OAKLANDS LEISURE PARK LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2025
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OAKLANDS LEISURE PARK LIMITED
REGISTERED NUMBER: 13052677
BALANCE SHEET
AS AT 31 JANUARY 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Page 1
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OAKLANDS LEISURE PARK LIMITED
REGISTERED NUMBER: 13052677
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 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:
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Mr M P J McCarthy
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The notes on pages 3 to 8 form part of these financial statements.
Page 2
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
Oaklands Leisure Park Limited is a private Company limited by shares incorporated in England within the United Kingdom. The address of the registered office is UK Leisure Group Head Office, Six Arches Caravan Park, Station Lane, Scorton, Garstang, United Kingdom, PR3 1AL.
The principal activity of the Company continued to be that of holiday and touring park.
The company is not part of a group.
2.Accounting policies
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Basis of preparation of financial statements
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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 pound.
The following principal accounting policies have been applied:
The directors have considered the going concern basis in preparing these financial statements. They
have concluded that the going concern basis is appropriate because of continued support from companies under common control and because sufficient funds will be generated from future trading for a period of at least twelve months from the date of the approval of the 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.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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 turnover is recognised:
Site fees, recharges and other income
Income is recognised on an accrual basis in the period to which it relates.
Sales of caravans
Income is recognised when the risk and reward of ownership is transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.
Interest income is recognised in profit or loss using the effective interest method.
Page 3
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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.
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Corporation and deferred taxation
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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.
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
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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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:
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.
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 profit and loss account.
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Stock and Work In Progress
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Stock and work in progeress 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 . Work in progress and finished goods include labour and attributable overheads.
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 profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value.
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Cash and cash equivalents
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value.
Page 5
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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 the end of each reporting period for objective evidence of impairment. If objectives evidence of impairment is found an impairment loss is recognised in the Statement of Comprehensive Income.
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The average monthly number of employees, including directors, during the year was 4 (2024 - 4).
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Charge for the year on owned assets
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Page 6
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Stock and Work In Progress
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Amounts owed by companies under common control
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to companies under common control
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Accruals and deferred income
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Page 7
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OAKLANDS LEISURE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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4 (2024 - 4) Ordinary shares shares of £1.00 each
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Related party transactions
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During the year the Company operated loans with the Directors of the Company. The amount owed from
the Directors at the end of the year was £9,707 (2024 - £Nil). The loan which is unsecured and
repayable on demand, is shown within other debtors. This loan has been repaid within 9 months of the year end.
During the year the Company continued its intercompany loans with Companies under Common Control.
The balance owed to these Companies is £1,627,998 (2024 - £990,981). The balance is interest free and
repayable on demand.
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The Ultimate Controlling Parties are Mrs K A McCarthy, Mr M P J McCarthy, Mr T J McCarthy and Mr M P McCarthy by virtue of their joint shareholding in Oaklands Leisure Park Limited.
Page 8
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