Registration number:
King's Lynn Caravan & Camping Park Limited
for the Year Ended 31 May 2025
King's Lynn Caravan & Camping Park Limited
Contents
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Company Information |
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Statement of financial position |
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Notes to the Unaudited Financial Statements |
King's Lynn Caravan & Camping Park Limited
Company Information
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Directors |
Mr P Yallop Mrs CR Yallop Mr D Yallop |
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Company secretary |
Mrs CR Yallop |
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Registered office |
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Accountants |
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King's Lynn Caravan & Camping Park Limited
(Registration number: 04663164)
Statement of financial position as at 31 May 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,801,494 |
1,658,724 |
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Shareholders' funds |
1,801,594 |
1,658,824 |
For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Lodges |
20% Straight Line |
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Long leasehold Property |
Not depreciated |
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Plant and Machinery |
25% Reducing Balance |
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Fixtures, fittings and equipment |
15% Reducing Balance |
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Motor Vehicles |
25% Reducing Balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
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Tangible assets |
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Lodges and pods |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Improvements of tangible assets |
Total |
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Cost or valuation |
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At 1 June 2024 |
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Revaluations |
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Additions |
- |
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- |
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Disposals |
- |
- |
- |
- |
( |
- |
( |
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At 31 May 2025 |
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Depreciation |
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At 1 June 2024 |
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- |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
- |
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( |
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At 31 May 2025 |
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- |
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Carrying amount |
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At 31 May 2025 |
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At 31 May 2024 |
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King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
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Stocks |
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2025 |
2024 |
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Finished goods and goods for resale |
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
- |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Other debtors include amounts owing from the directors of £0 (2024 £54,248 This loan will be repaid within nine months of the year end.
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Trade creditors |
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Amounts due to related parties |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Other payables |
- |
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Accruals |
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Tax liability |
42 |
2,334 |
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Share capital |
Allotted, called up and fully paid shares
King's Lynn Caravan & Camping Park Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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40 |
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40 |
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40 |
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40 |
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10 |
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10 |
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10 |
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10 |
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Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.
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Related party transactions |
Summary of transactions with other related parties
The Company owed Oakkeepers Trust £599,056 (2024 - £482,832) of which director Daniel Yallop is a beneficiary and directors Paul Yallop and Claire Yallop are trustees.
The company was owed £545,625 from Yallop Holdings Limited (2024- £356,006) a company which has mutual directors.The company was also owed £142,112 (2024- £155,783) from the R D Yallop Will Trust of which Daniel Yallop is a beneficiary.