For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover represents amounts receivable from pitch fees, sales of mobile homes, commissions and utilities recharged net of VAT. Sales of houses taken on part exchange are also recognised in turnover on completion.

Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Interests in subsidiaries are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stock is at the lower of cost and estimated selling price less costs to complete and sell. Stock consists of mobile homes unsold at the year end.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is

settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

The company provides pension benefits for senior employees. Under the terms of the pension contracts entered into with the senior employees, fixed sums are provided for now in order to provide pension benefits to the individuals upon their retirement. The pension contracts allow for an annual increase in respect of indexation over and above the initial contracted amount.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors consider that it does not bear any of the hallmarks of a defined benefit scheme as the company’s contributions are fixed until the point of retirement at which point any further contributions of annual increases cease. Further information can be found in note 10 to the financial statements.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

The average monthly number of persons (including directors) employed by the company during the year was:

Land with a carrying amount of £8,235,000 was revalued at 18 August 2021 by Christie & Co, independent professional valuers not connected with the company on the basis of open market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. In the opinion of the directors, the market value of the land is not materially different from the carrying value as at the balance sheet date.

The historical cost of the mobile home park land included in the valuation above is £6,859,703.

In the opinion of the directors, there has been no change in the fair value of the investment properties during the year.

The bank loan amounting to £2,254,084 (2023: £2,442,647) is secured by a fixed and floating charge on all the present and future assets of the company and of Sines Parks Limited, a company connected to the directors. Sines Parks Limited also provides a cross guarantee to the company.

The company has entered into agreements and is contractually obliged to expend fixed sums in the future to provide retirement benefits to senior employees under the terms of their pension agreements

The company provided pension benefits in respect of senior employees. Amounts payable are charged to the profit and loss account in the year the contracts are entered into between the company and the employees. The number of directors to whom benefits are accruing under these pension agreements is 1 (2023: 1).

The contributions and potential liabilities of the company in respect of the pension agreements are fixed at least until the date of retirement of the employees which is over 10 years from the year end date.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors are of the opinion that it does not bear any of the hallmarks of what is usually considered to be a defined benefit scheme and therefore no further disclosures are considered necessary in order to understand the nature and measurement of the liability.

The directors are of the opinion that the liability as disclosed in the financial statements represents the full and final amount which could be expected, at this stage, to be paid in the future to settle the pension agreement liabilities

Included within profit and loss account reserves is an amount totalling £670,399 (2023: £619,599) in respect of the Preferred Ordinary shares reserve in accordance with the Articles of Association.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Included in other debtors is a balance due from Sines Parks Luxury Living Limited, a company connected to the directors, amounting to £1,668,732 (2023: £2,879,223) at the balance sheet date.

Included in other debtors is a balance due from Sines Parks Limited, a company connected to the directors, amounting to £1,772,114 (2023: £1,772,114) at the balance sheet date.

Included in other debtors is a balance due from Leisure Parks Luxury Living Limited, a company in which F Doe is a director, amounting to £100,000 (2023: £100,000) at the balance sheet date.

Included in other debtors is a balance due from Leisure Parks Real Estate Limited, a company in which F doe is a director, amounting to £553,566 (2023: £553,566) at the balance sheet date.

Included in other debtors is a balance due from Sines Parks Residential Limited, a company connected to the directors, amounting to £80,192 (2023: £80,000) at the balance sheet date.

Included in other debtors is an amount due from Sines Parks Holdings Limited, a company connected to the directors, amounting to £1,827,310 (2023: £327,000) at the balance sheet date.

Included in other debtors is an amount due from Weybridge Park Estates Ltd, a company connected to the directors, amounting to £273,337 at the balance sheet date.

Included in other creditors is an amount due to Sines Parks Luxury Services Limited, a company in which Mrs E Sines is a director, amounting to £1,558 (2023: £1,750) at the balance sheet date.

Included in other creditors is an amount due to Tetbury Industrial Estated Limited, a company connected to the directors, amounting to £49,974 (2023: £1,220) at the balance sheet date.

Included in other creditors is an amount due to Hayes Country Estates Limited, a company connected to the directors, amounting to £1,125,577 (2023: £86,599) at the balance sheet date.

Included in other creditors is an amount due to Spill Land Farm Country Park Limited, a company connected to the directors, amounting to £61,426 (2023: £86,599) at the balance sheet date.

The directors have given personal guarantees to the company's bankers limited to £500,000.