Calloose Caravan Park Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Calloose Caravan Park Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10887769 . The registered office is 16 Calloose Lane W, Leedstown, Hayle, Cornwall, TR27 5ET.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently 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:

Freehold	Buildings - 2% straight line
Plant & Machinery	10% straight line
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% straight line
Computer Equipment	10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceed and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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Calloose Caravan Park Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.3. Tangible Fixed Assets and Depreciation - continued

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Financial Instruments

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 asset

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities

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Calloose Caravan Park Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.5. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.6. Taxation

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

Current 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

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal o deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.7. Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.8. Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the

dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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Calloose Caravan Park Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.9. Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent

from other sources. The estimates and associated assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of the revision and future periods where the revision affects both current and future

periods.

2.9. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 9)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2023	2,004,988	1,313,874	108,723	5,607	3,433,192
Additions	64,203	101,808	-	19,750	185,761
Transfers	(20,666 )	20,666	-	-	-

As at 30 September 2024	2,048,525	1,436,348	108,723	25,357	3,618,953

Depreciation
As at 1 October 2023	111,494	500,327	25,415	727	637,963
Provided during the period	21,926	139,348	20,827	1,548	183,649
Transfers	(120 )	120	-	-	-

As at 30 September 2024	133,300	639,795	46,242	2,275	821,612

Net Book Value
As at 30 September 2024	1,915,225	796,553	62,481	23,082	2,797,341

As at 1 October 2023	1,893,494	813,547	83,308	4,880	2,795,229

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Calloose Caravan Park Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

5. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	3,852	-
Amounts owed by group undertakings	100	100
Other debtors	167,346	75,813

	171,298	75,913

6. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	15,122	15,122
Trade creditors	19,930	43,821
Bank loans and overdrafts	274,721	174,353
Amounts owed to group undertakings	-	339,629
Other creditors	20,879	5,328
Taxation and social security	60,970	105,460

	391,622	683,713

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	36,821	51,944
Bank loans and overdrafts	1,245,461	1,225,254
Amounts owed to group undertakings	339,629	-

	1,621,911	1,277,198

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2024		2023 as restated
	£		£
Bank loans	418,643		354,721

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Calloose Caravan Park Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

8. Secured Creditors

Of the creditors the following amounts are secured against the freehold property and all assets.

	2024		2023 as restated
	£		£
Bank loans and overdrafts	1,520,182		1,399,607

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023 as restated
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	15,122	15,122
Later than one year and not later than five years	36,821	51,944

	51,943	67,066

	51,943	67,066

10. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	100	100

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2024
	£	£	£	£	£
Mr Warren Dixon	33,362	68,577	(39,710 )	-	62,229
Mrs Joanne Dixon	33,632	68,577	(39,710 )	-	62,229

The above loan is unsecured, interest free and repayable on demand.

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		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,797,341		2,795,229

			2,797,341		2,795,229
CURRENT ASSETS
Debtors	5	171,298		75,913
Cash at bank and in hand		87,545		163,171

		258,843		239,084
Creditors: Amounts Falling Due Within One Year	6	(391,622 )		(683,713 )

NET CURRENT ASSETS (LIABILITIES)			(132,779 )		(444,629 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,664,562		2,350,600

Creditors: Amounts Falling Due After More Than One Year	7		(1,621,911 )		(1,277,198 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(192,626 )		(264,386 )

NET ASSETS			850,025		809,016

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			849,925		808,916

SHAREHOLDERS' FUNDS			850,025		809,016

Mr W A Dixon Director	Mrs J Dixon Director
30 September 2025