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Company No: 13681034 (England and Wales)

# CROWHURST PARK LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CROWHURST PARK LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CROWHURST PARK LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
CROWHURST PARK LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | S V Cordall
| C R Simmons
| E J Simmons

REGISTERED OFFICE | Level 1 Brockbourne House
| 77 Mount Ephraim
| Tunbridge Wells
| Kent
| England
| TN4 8BS
| United Kingdom

COMPANY NUMBER | 13681034 (England and Wales)

ACCOUNTANT | S&W Partners (South East) Limited
| Brockbourne House
| 77 Mount Ephraim
| Royal Tunbridge Wells
| TN4 8BS

CROWHURST PARK LIMITED

## BALANCE SHEET

As at 31 December 2024
CROWHURST PARK LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 4,194,363 |  | 3,976,711
|  | 4,194,363 |  | 3,976,711
Current assets |  |  |  |
Stocks | 4 | 924,505 |  | 668,656
Debtors | 5 | 157,977 |  | 90,617
Cash at bank and in hand |  | 134,320 |  | 266,442
|  | 1,216,802 |  | 1,025,715
Creditors: amounts falling due within one year | 6 | ( 1,683,574) |  | ( 755,264)
Net current (liabilities)/assets |  | (466,772) |  | 270,451
Total assets less current liabilities |  | 3,727,591 |  | 4,247,162
Creditors: amounts falling due after more than one year | 7 | ( 472,912) |  | ( 469,782)
Provision for liabilities | 8 | ( 130,878) |  | ( 147,764)
Net assets |  | 3,123,801 |  | 3,629,616
Capital and reserves |  |  |  |
Called-up share capital |  | 300 |  | 300
Share premium account |  | 2,925,681 |  | 2,925,681
Profit and loss account |  | 197,820 |  | 703,635
Total shareholder's funds |  | 3,123,801 |  | 3,629,616

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Crowhurst Park Limited (registered number: 13681034) were approved and authorised for issue by the Board of Directors on 06 October 2025. They were signed on its behalf by:

C R Simmons Director |

CROWHURST PARK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CROWHURST PARK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Crowhurst Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, England, TN4 8BS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Crowhurst Park Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. Monetary amounts are rounded to the nearest £1, except where otherwise stated.

##### Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:
Holiday home sales revenue is recognised on the completion of a property sale.
Lodge lettings which represent rents received, are recorded based on the dates of stay.
Bar, catering and leisure club income are recognised at the point of sales.
Other income streams are recognised as the activity arises.

##### Interest income

Interest income is recognised in profit or loss using the effective interest method.

##### Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.
Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 25 years straight line
Assets under construction | not depreciated
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance
Office equipment | 25 % reducing balance
Other property, plant and equipment | 20 - 25 years straight line

Included in land and buildings is freehold land which is not depreciated.
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. 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.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. For caravan stock, cost is calculated as the purchase price, together with attributable improvement costs and legal expenses. Net realisable value is based upon estimated selling price less all further costs to complete.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 71 |  | 49

#### 3. Tangible assets

| Land and buildings |  | Assets under construc- tion |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2024 | 3,358,107 |  | 0 |  | 679,967 |  | 71,756 |  | 108,829 |  | 163,675 |  | 1,817,912 |  | 6,200,246
Additions | 181,403 |  | 92,050 |  | 4,081 |  | 7,150 |  | 5,892 |  | 5,962 |  | 45,975 |  | 342,513
Disposals | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 40,155) |  | ( 40,155)
At 31 December 2024 | 3,539,510 |  | 92,050 |  | 684,048 |  | 78,906 |  | 114,721 |  | 169,637 |  | 1,823,732 |  | 6,502,604
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2024 | 39,356 |  | 0 |  | 654,551 |  | 41,949 |  | 104,539 |  | 142,367 |  | 1,240,773 |  | 2,223,535
Charge for the financial year | 21,963 |  | 0 |  | 6,863 |  | 8,643 |  | 1,630 |  | 5,824 |  | 79,938 |  | 124,861
Disposals | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 40,155) |  | ( 40,155)
At 31 December 2024 | 61,319 |  | 0 |  | 661,414 |  | 50,592 |  | 106,169 |  | 148,191 |  | 1,280,556 |  | 2,308,241
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2024 | 3,478,191 |  | 92,050 |  | 22,634 |  | 28,314 |  | 8,552 |  | 21,446 |  | 543,176 |  | 4,194,363
At 31 December 2023 | 3,318,751 |  | 0 |  | 25,416 |  | 29,807 |  | 4,290 |  | 21,308 |  | 577,139 |  | 3,976,711
Leased assets included above: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2024 | 83,109 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 42,783 |  | 125,892
At 31 December 2023 | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 45,316 |  | 45,316

Included in land and buildings is freehold land at cost of £2,761,115 (2023: £2,761,115) which is not depreciated.

#### 4. Stocks

| 2024 |  | 2023
| £ |  | £
Stocks | 919,280 |  | 663,131
Finished goods | 5,225 |  | 5,525
| 924,505 |  | 668,656

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 62,933 |  | 5,694
Amounts owed by Group undertakings | 26,606 |  | 21,906
Amounts owed by connected companies | 41,378 |  | 43,233
Prepayments | 27,060 |  | 19,784
| 157,977 |  | 90,617

#### 6. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 35,532 |  | 34,632
Trade creditors | 125,235 |  | 207,700
Amounts owed to Group undertakings | 565,808 |  | 0
Accruals and deferred income | 513,784 |  | 10,000
Corporation tax | 152,133 |  | 73,149
Other taxation and social security | 14,582 |  | 60,832
Obligations under finance leases and hire purchase contracts | 272,268 |  | 99,871
Other creditors | 4,232 |  | 269,080
| 1,683,574 |  | 755,264

Included within creditors is a bank loan of £282,930 (2023: £307,461) which is secured by a fixed charge over all assets owned by the company.
There is also a bank loan of £16,520 (2023: £26,616) which was facilitated by the Government's Coronavirus Business Interruption Loan Scheme.
Obligations under finance leases are secured over the assets concerned.

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 263,453 |  | 299,445
Obligations under finance leases and hire purchase contracts | 209,459 |  | 170,337
| 472,912 |  | 469,782

#### 8. Deferred tax

| 2024 |  | 2023
| £ |  | £
At the beginning of financial year | ( 147,764) |  | ( 177,428)
Credited to the Statement of Income and Retained Earnings | 16,886 |  | 29,664
At the end of financial year | ( 130,878) |  | ( 147,764)

The deferred taxation balance is made up as follows:

| 2024 |  | 2023
| £ |  | £
Accelerated capital allowances | ( 130,878) |  | ( 147,764)

#### 9. Related party transactions

Other related party transactions

| 2024 |  | 2023
| £ |  | £
Amount due from businesses under common control | 67,984 |  | 65,139

These loans are unsecured, interest-free and repayable on demand. These loans are included within other debtors.
During the year, loans made to the Company by the directors of £49,760 (2023: £50,000) were repaid. As at the year-end, the amounts owed by the Company to the directors was £nil (2023: £49,760). These loans are unsecured, interest-free and are included within other creditors.
During the year, the company made pension contributions of £50,000 (2023: £nil) in respect of the directors under a defined contribution pension.

#### 10. Ultimate controlling party

Parent Company:

Crowhurst Park Holdings Limited
Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

The ultimate controlling parties are the directors by virtue of their joint shareholdings.