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Registered number: 10368395 POULTON PLAIZ LEISURE PARK LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 JANUARY 2025
POULTON PLAIZ LEISURE PARK LTD REGISTERED NUMBER: 10368395 BALANCE SHEET AS AT 31 JANUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 5,807,921 |  | 2,859,167
|  |  | 5,807,921 |  | 2,859,167
Current assets |  |  |  |  |
Stocks |  | 272,530 |  | 215,260 |
Debtors: amounts falling due within one year | 6 | 2,411,145 |  | 2,709,610 |
Cash at bank and in hand |  | 200,728 |  | 186,213 |
|  | 2,884,403 |  | 3,111,083 |
Creditors: amounts falling due within one year | 7 | (1,353,300) |  | (1,573,604) |
Net current assets |  |  | 1,531,103 |  | 1,537,479
Total assets less current liabilities |  |  | 7,339,024 |  | 4,396,646
Creditors: amounts falling due after more than one year | 8 |  | (1,440,350) |  | (1,632,284)
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (772,233) |  | (72,565) |
|  |  | (772,233) |  | (72,565)
Net assets |  |  | 5,126,441 |  | 2,691,797
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 2 |  | 2
Revaluation reserve |  |  | 2,213,083 |  | -
Profit and loss account |  |  | 2,913,356 |  | 2,691,795
|  |  | 5,126,441 |  | 2,691,797
Page 1
POULTON PLAIZ LEISURE PARK LTD REGISTERED NUMBER: 10368395 BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 The director considers 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 director acknowledges his 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:
................................................ Mr M P McCarthy
Director
Date: 15 September 2025
The notes on pages 3 to 11 form part of these financial statements. Page 2
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. | General information
Poulton Plaiz Leisure Park Ltd 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 a holiday park operator. The Company is not part of a group. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The company's functional and presentational currency is Pounds sterling. The level of rounding applied is to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
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.
| 2.3 | 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. 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.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.5 | 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.
| 2.6 | Corporation and deferred taxation
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.
| 2.7 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.8 | 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. Page 4
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
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 | - | 15% Reducing balance
|  |  |  | Fixtures and fittings | - | 15% Reducing balance
|  |  |  | Office equipment | - | 25% Straight line
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.
| 2.9 | 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 balance sheet 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.
| 2.10 | 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. 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.
| 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. Page 5
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 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.
| 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 | 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 objectives evidence of impairment is found an impairment loss is recognised in the Statement of Comprehensive Income.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 6
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
4. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 February 2024 | 2,620,699 | 395,471 | 218,613 | 13,476 | 3,248,259
| Additions | 966 | 70,810 | 406 | - | 72,182
| Disposals | - | (89,529) | - | - | (89,529)
| Revaluations | 2,918,336 | - | - | - | 2,918,336
| At 31 January 2025 | 5,540,001 | 376,752 | 219,019 | 13,476 | 6,149,248
| Depreciation |  |  |  |  |
| At 1 February 2024 | 73,499 | 183,234 | 121,832 | 10,527 | 389,092
| Charge for the year on owned assets | - | 20,681 | 14,543 | 2,261 | 37,485
| Charge for the year on financed assets | - | 1,678 | - | - | 1,678
| Disposals | - | (13,429) | - | - | (13,429)
| On revalued assets | (73,499) | - | - | - | (73,499)
| At 31 January 2025 | - | 192,164 | 136,375 | 12,788 | 341,327
| Net book value |  |  |  |  |
| At 31 January 2025 | 5,540,001 | 184,588 | 82,644 | 688 | 5,807,921
| At 31 January 2024 | 2,547,200 | 212,237 | 96,781 | 2,949 | 2,859,167
Cost or valuation at 31 January 2025 is as follows:
|  |  | Land and buildings
|  |  | £
|  | At cost | 2,621,665
|  | At valuation: |
|  | 31 October 2024 | 2,918,336
|  |  | 5,540,001
Page 7
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 4.Tangible fixed assets (continued)
| If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cost | 2,621,665 | 2,620,699
| Accumulated depreciation | - | (73,499)
| Net book value | 2,621,665 | 2,547,200
| The freehold property was valued by Savills in October 2024. The Directors have considered the valuation and believe that the valuation should be adopted at the date of signing the financial statements.
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Stock | 272,530 | 215,260
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 2,523 | 16,315
| Amounts owed by companies under common control | 2,371,594 | 2,670,458
| Other debtors | 29,657 | 7,915
| Prepayments and accrued income | 7,371 | 14,922
|  | 2,411,145 | 2,709,610
Page 8
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 213,300 | 206,121
| Trade creditors | 90,704 | 462,981
| Amounts owed to companies under common control | 361,593 | 113,241
| Corporation tax | 50,762 | 105,002
| Obligations under finance lease and hire purchase contracts | 11,173 | -
| Other creditors | 170,630 | 189,386
| Accruals and deferred income | 455,138 | 496,873
|  | 1,353,300 | 1,573,604
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,418,984 | 1,632,284
| Net obligations under finance leases and hire purchase contracts | 21,366 | -
|  | 1,440,350 | 1,632,284
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,632,284 | 1,838,405
| Net obligations under finance leases and hire purchase contracts | 32,539 | -
|  | 1,664,823 | 1,838,405
| Details of security provided:
The loans are secured by fixed and floating charges on the assets to which they relate. Page 9
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 213,300 | 206,121
| Amounts falling due 1-2 years |  |
| Bank loans | 1,418,984 | 213,300
| Amounts falling due 2-5 years |  |
| Bank loans | - | 1,418,984
|  | 1,632,284 | 1,838,405
10. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 11,173 | -
| Between 1-5 years | 21,366 | -
|  | 32,539 | -
11. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (72,565)
| Charged to profit or loss | (699,668)
| At end of year | (772,233)
Page 10
POULTON PLAIZ LEISURE PARK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 11.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (66,980) | (72,565)
| Revaluation reserve | (705,253) | -
|  | (772,233) | (72,565)
12. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares of £1.00 each | 2 | 2
13. | Prior year adjustment
A reclassification has been made to prior year expenses, previously presented as administrative expenses, which are now recognised as cost of sales. The adjustment has no impact on previously reported profit.
14. | Related party transactions
| During the year the Company operated a loan with the Director of the Company. The amount owed to the Director at the end of the year was £168,380 (2024 - £189,386). The loan which is unsecured and repayable on demand, is shown within creditors. During the year the Company continued its loans with Companies under Common Control. The net balance owed from these Companies is £2,010,003 (2024 - £2,557,217). The balance is interest free and repayable on demand. During the year the Company incurred management charges from Companies under Common Control of £12,000 (2024 - £30,000). All management charges are made on an arms length basis.
15. | Controlling party
The Ultimate Controlling Parties are Mr M P McCarthy and Mrs K A McCarthy by virtue of their joint shareholding in Poulton Plaiz Leisure Park Ltd.
Page 11