ACCOUNTS - Final Accounts

The property was professionally valued in January 2023 by commercial real estate agents, Avison Young, at market value. The director chose to adopt this valuation at 31 March 2025.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

Company registration number: 00741967

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	RICE & COLE LIMITED


RICE & COLE LIMITED REGISTERED NUMBER:00741967

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		7,902,512		7,900,815
			7,902,512		7,900,815
Current assets
Stocks	5	613,685		1,218,503
Debtors: amounts falling due within one year	6	3,617,204		1,936,363
Cash at bank and in hand		122,287		289,883
		4,353,176		3,444,749
Creditors: amounts falling due within one year	7	(782,649)		(898,741)
Net current assets			3,570,527		2,546,008
Total assets less current liabilities			11,473,039		10,446,823
Creditors: amounts falling due after more than one year	8		(68,814)		(59,192)
Provisions for liabilities
Deferred tax		(1,804,538)		(1,812,691)
			(1,804,538)		(1,812,691)
Net assets			9,599,687		8,574,940

Capital and reserves
Allotted, called up and fully paid share capital	132	132
Revaluation reserve	5,281,401	5,281,401
Profit and loss account	4,318,154	3,293,407
	9,599,687	8,574,940

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RICE & COLE LIMITED REGISTERED NUMBER:00741967

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

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:

M.C. Annis

Director

Date: 3 September 2025

The notes on pages 4 to 9 form part of these financial statements.

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RICE & COLE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	132	5,346,566	2,770,530	8,117,228
Comprehensive income for the year
Profit for the year	-	-	522,877	522,877
Deficit on revaluation of freehold property	-	(65,165)	-	(65,165)
Other comprehensive income for the year	-	(65,165)	-	(65,165)
Total comprehensive income for the year	-	(65,165)	522,877	457,712

At 1 April 2024	132	5,281,401	3,293,407	8,574,940
Comprehensive income for the year
Profit for the year	-	-	1,024,747	1,024,747
Total comprehensive income for the year	-	-	1,024,747	1,024,747
At 31 March 2025	132	5,281,401	4,318,154	9,599,687

The notes on pages 4 to 9 form part of these financial statements.

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Rice & Cole Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY. The principal place of business is Queen Street, Paddock Wood, Kent, TN12 6NX.
This Company is part of the Monte Carlo Parks Ltd Group.
The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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

Turnover

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. Monies received in advance are treated as deferred income and held as payments on account.
Pitch fees, mooring fees, recharge of expenses and commissions
Income is recognised on an accruals basis in the period to which they relate.
Sales of park homes
Sales of park homes are recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.

2.3

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.

2.4

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.

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

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.

2.6

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.

Depreciation is provided on the following basis:

Freehold property	-	not depreciated
Plant and machinery	-	10% - 33% reducing balance
Motor vehicles	-	15% - 25% reducing balance
Computer equipment	-	25% to 33% reducing balance

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 Statement of Comprehensive Income.

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

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.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

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.

2.9

Financial instruments

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 objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Employees

The average monthly number of employees during the year was 12 (2024 - 13). The director did not receive any remuneration.

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	7,625,000	593,592	171,760	53,586	8,443,938
Additions	10,138	1,868	82,534	626	95,166
Disposals	-	-	(70,151)	-	(70,151)
At 31 March 2025	7,635,138	595,460	184,143	54,212	8,468,953
Depreciation
At 1 April 2024	-	423,151	69,814	50,158	543,123
Charge for the year	-	18,106	5,577	1,241	24,924
Disposals	-	-	(1,606)	-	(1,606)
At 31 March 2025	-	441,257	73,785	51,399	566,441
Net book value
At 31 March 2025	7,635,138	154,203	110,358	2,813	7,902,512
At 31 March 2024	7,625,000	170,441	101,946	3,428	7,900,815


Cost	593,268	583,130
Net book value	593,268	583,130

5.	Stocks
		2025	2024
		£	£

Work in progress	151,728	369,786
Finished goods and goods for resale	461,957	848,717
	613,685	1,218,503

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	59,474	53,282
Amounts owed by group undertakings	3,497,095	1,849,291
Prepayments and accrued income	60,635	33,790
	3,617,204	1,936,363

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	269,710	347,829
Corporation tax	250,000	88,981
Other taxation and social security	44,894	1,429
Obligations under finance lease and hire purchase contracts	16,520	14,421
Other creditors	96,598	207,705
Accruals and deferred income	104,927	238,376
	782,649	898,741

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	68,814	59,192
	68,814	59,192

Within one year	16,520	14,421
Between 1-5 years	68,814	14,030
Over 5 years	-	45,162
	85,334	73,613

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RICE & COLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	Contingent liabilities

A contingent liability exists in respect of group borrowings of £21,216,283 (2024: £12,924,915) at the balance sheet date in respect of an unlimited multilateral guarantee in favour of HSBC Plc. The guarantee is given by Monte Carlo Parks Ltd, Five Furlongs Country Park Ltd, Red River Country Park Ltd, Rice & Cole Ltd, Arkley Estates Ltd, Lutterworth Country Park Ltd, Havenwood Country Park Ltd, Willoway Mobile Home Park Ltd, Walton Hall Manor Country Park Ltd and Yarwell Estates Ltd.
The guarantee is secured by a fixed charge over the Group's freehold and leasehold properties and a floating charge over all Group assets both present and future.

Not later than 1 year	7,000	8,716
Later than 1 year and not later than 5 years	18,219	53,667
	25,219	62,383

12.	Related party transactions
	The Company has taken advantage of the exemption available within FRS 102 Section 33.1A, from disclosing transactions entered into with entities which are a wholly owned part of the group.

13.	Controlling party

The ultimate controlling parent undertaking is Monte Carlo Parks Ltd by virtue of its 100% controlling interest of the Company. The address of the parent company's registered office Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.
The ultimate controlling party is M.C. Annis by virtue of his 75% shareholding in Monte Carlo Parks Ltd.

14.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 3 September 2025 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

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