ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

Registered number: 14613479

CREST PARKS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

CREST PARKS LIMITED

REGISTERED NUMBER: 14613479

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

	30 September	As restated 31 January
	2024	2024
Note	£	£

Fixed assets
Tangible assets	4		36,527		34,053
			36,527		34,053
Current assets
Debtors: amounts falling due within one year	5	2,923		269
Cash at bank and in hand		136		687
Current liabilities		3,059		956
Creditors: amounts falling due within one year	6	(54,369)		(43,242)
Net current liabilities			(51,310)		(42,286)
Total assets less current liabilities			(14,783)		(8,233)
Provisions for liabilities
Deferred tax		(947)		-
			(947)		-
Net liabilities			(15,730)		(8,233)

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		(15,731)	(8,234)
		(15,730)	(8,233)

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CREST PARKS LIMITED

REGISTERED NUMBER: 14613479

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2024

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 period 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 R Slattery

Director

Date: 29 October 2025

The notes on pages 3 to 8 form part of these financial statements.

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.	General information

Crest Parks Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom.
The principal activity of the Company continued to be that of a touring holiday park.
The trading address of the Company is Cranberry Moss Camping & Caravan Site, Oswestry, SY10 8DY.
The financial year end of the Company was changed from 31 January 2025 to 30 September 2024. Accordingly, the current financial statements are prepared for 8 months from 1 February 2024 to 30 September 2024 and as a result, the comparative figures in the statement of comprehensive income and the related notes are not comparable.

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 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 Company's functional and presentational currency is pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

2.2

Going concern

The director has considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient fund will be generated from future trading for a period of at least twelve months from the date of the aproval of these financial statements to enable the company to meet its liabilities as they arive.

2.3

Revenue

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:

Site Fees
Site fees are recognised on an accruals basis in the period to which they relate.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the period comprises current 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 current 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.

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.6

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.

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:

Long-term leasehold property	-	period of lease
Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance

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.

2.7

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.

2.8

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.

2.9

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.

2.10

Prior year adjustment

A prior year adjustment has been made to capitalise park improvement costs. This change has resulted in an decrease in loss for the period of £32,770 and an increase in tangible fixed assets of £32,770.

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the period was 1 (2024 - 1).

4.	Tangible fixed assets

	Leasehold property improvement	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 February 2024	32,852	-	1,284	34,136
Additions	345	2,723	-	3,068
At 30 September 2024	33,197	2,723	1,284	37,204
Depreciation
At 1 February 2024	83	-	-	83
Charge for the period on owned assets	-	45	171	216
Charge for the period on financed assets	378	-	-	378
At 30 September 2024	461	45	171	677
Net book value
At 30 September 2024	32,736	2,678	1,113	36,527

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Debtors

					30 September	31 January
					2024	2024
					£	£


Trade debtors	935	269
Prepayments and accrued income	1,988	-
	2,923	269

Trade creditors	20,303	10,916
Other creditors	17,120	29,826
Accruals and deferred income	16,946	2,500
	54,369	43,242

7.	Deferred taxation

		2024
		£

	Charged to profit or loss	(947)
	At end of year	(947)

Accelerated capital allowances

(947)

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CREST PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

Related party transactions

During the period the Company operated loans with the Director of the Company. The amount payable to the Director of the Company at the period end was £4,608 (2024 - £29,826). This loan is interest free and repayable on demand.
During the period the Company operated loans with a connected party of the Director. The amount payable to the connected party at the period end was £3,211 (2024 - £Nil). This loan is interest free and repayable on demand.

10.	Controlling party

The Ultimate Controlling Party is Mr R Slattery by virtue of his 100% shareholding.

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