The directors present the strategic report for the period ended 29 December 2024.
The Group began trading on 27 March 2024 and has achieved sales of £4,374,110 in the period to 29 December 2024 and a loss before tax of £13,798,966. A significant portion of this loss relates to depreciation, amortisation and interest costs. EBITDA for the period ended at (£57,992). At year end the Group had net liabilities of £13.7m which is mainly driven by shareholder loans of £35.9m.
Operational recovery and legacy issues
The business was acquired from administration and inherited operational challenges, including deferred maintenance, incomplete records, and legacy customer issues. Management have focused on bringing in new management systems and implementing controls to mitigate these risks. Key supplier and customer data have been re-established, and capital investment has been prioritised for essential maintenance and infrastructure improvements.
Market and economic conditions
The Group’s performance depends on the strength of the UK domestic tourism and leisure market. Economic uncertainty, inflation, and reduced discretionary spending could reduce holiday occupancy and caravan sales. The Group focuses on flexible pricing strategies, a diversified product mix, and targeted marketing are used to maintain volume and revenue. Management monitors trading trends closely and adjusts operations accordingly.
Reputation and brand transition
Operating under new ownership and the Meadow Bay Villages brand, there is a risk of customer confusion or reputational impact from the insolvency of the former operator. Management have implemented clear lines of communication and a full rebranding plan. Active engagement with owners, guests, and local authorities reinforces the new ownership and operational standards.
Health, safety and regulatory compliance
The Group must comply with a wide range of health, safety, environmental, and licensing regulations. Non-compliance could result in penalties, reputational harm, or disruption to trading. Regular internal audits and external compliance reviews are undertaken. Ongoing staff training ensures compliance and awareness across all operational areas.
Weather and environmental risks
Severe weather, flooding, or other environmental incidents may disrupt operations or cause property damage as well as reducing the demand for holidays. Comprehensive insurance cover is maintained. Investment has been made in drainage, flood defences, and emergency response planning to reduce potential impact.
Liquidity and working capital
As a new business, maintaining sufficient liquidity is critical. Lower than forecast trading or unexpected costs could place pressure on cash resources. The Group maintains detailed cash flow forecasting and monitoring. The Group also benefits from shareholder funding and adequate committed facilities to support working capital needs.
IT systems and data protection
As with many businesses, the Group relies heavily on IT systems to help manage the business, including customer data. Significant investment has been made in new cloud based management systems and enhanced security protocols which is supported by staff training.
The Group considers the key financial performance indicators to be revenue and EBITDA and these are closely monitored on a monthly basis.
The directors remain focused on enhancing the long-term value and sustainability of the Group’s holiday park portfolio. Over the coming year, investment will continue in upgrading site infrastructure and facilities to improve the guest experience and support higher occupancy levels.
Ongoing efficiency initiatives and digital improvements to booking and customer engagement systems are expected to strengthen operating margins and customer retention. The directors will continue to monitor wider economic conditions and consumer confidence levels.
On behalf of the board
The directors present their annual report and financial statements for the period ended 29 December 2024.
The results for the period are set out on page 8.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
We have audited the financial statements of Country and Coastal Parks 2 Holdco Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 29 December 2024 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Laws and regulations of direct significance in the context of the group and parent company include The Companies Act 2006 and UK Tax legislation.
Audit response to risks identified
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of group and parent company financial statement disclosures. We reviewed the parent company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
As group auditors, our assessment of matters relating to non-compliance with laws or regulations and fraud differed at group and component level according to their particular circumstances. Our communications included a request to identify instances of non-compliance with laws and regulations and fraud that could give rise to a material misstatement of the group financial statements in addition to our risk assessment.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the parent company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company's members as a body, for our audit work, for this report, or for the opinions we have formed.
The income statement has been prepared on the basis that all operations are continuing operations.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £1.
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
Country and Coastal Parks 2 Holdco Limited (“the company”) is a private company limited by shares incorporated in England and Wales. The registered office is 100 Avebury Boulevard, Milton Keynes, England, MK9 1FH.
The group consists of Country and Coastal Parks 2 Holdco Limited and all of its subsidiaries.
These financial statements for the period ended 29 December 2024 are the first financial statements of Country and Coastal Parks 2 Holdco prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The current reporting period is from incorporation on 22 February 2024 to 29 December 2024.
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.
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. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company Country and Coastal Parks 2 Holdco Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 29 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
The financial statements have been prepared on a going concern basis. In forming this judgement, the Directors have considered the Group’s financial performance, cash position, available facilities and trading forecasts for a period of at least 12 months from the date of approval of these financial statements.
For the period ended 29 December 2024, the Group reported a loss before tax of £13.2m, including £3.9m of finance costs, the majority of which relate to intercompany facilities where interest may be paid-in-kind and therefore does not require immediate cash settlement. Post year end trading is showing positive EBITDA, reflecting improved margins and tighter controls over holiday home sales and stock purchasing.
The Group also had access to available liquidity through undrawn bank facilities and stock financing. Forecast operating costs are expected to be met through normal trading cash flows, with the Group’s working capital cycle providing regular receipts aligned to expenditure.
The Directors monitor cash flow forecasts on a rolling basis and consider that the Group has sufficient resources to meet its obligations as they fall due for the foreseeable future. Accordingly, the going concern basis of preparation remains appropriate.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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:
Sale of goods
Revenue from the sale of goods, being the sale of holiday homes and other ancillary items, is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be reliably measured;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from on park spending, being retail, catering and other income, is recognised at the point of sale as this is when the performance obligations are met.
Rendering of services
Revenue from services, being site fees and holiday bookings, is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be reliably measured;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measure reliably; and
the costs incurred and the costs to complete the contract can be reliably measured.
For site fees, this revenue is recognised on a straight line basis over the contract period.
Holiday bookings revenue is recognised as when the performance obligation is met, which falls in line with when the holiday is taken. Extras such as pet fees and additional guests are considered to be bundled goods and therefore all revenue is recognised as the holiday is taken.
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 recognised in the income statement.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group 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.
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.
The group 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 group's statement of financial position when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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, 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.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 group after deducting all of its liabilities.
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.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
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 income statement 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 group’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 and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of 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. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. 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.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the group’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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
At acquisition management had to determine the fair value of the assets acquired. A number of valuation methods were used.
Land and buildings that had existing development on were valued on the basis of fair maintainable trade while bare land was valued based on a market approach where judgements included determining the capitalisation factor and risk factor to be applied. Market evidence was considered where it was available and internal benchmarking was applied where external data is limited.
Hire fleet and stock units were valued using BREGO valuations and judgement was applied to these figures where stock was significantly older, in worse condition than expected or where there was other evidence such as a recent purchase of the same unit.
Management exercises judgement in assessing whether any impairment of goodwill has arisen.
Goodwill is allocated to the cash-generating unit (CGU) representing the individual holiday park that is expected to benefit from the acquisition.
It was deemed that goodwill primarily represents the underutilised pitches and the development opportunity within these.
Management has applied the following steps:
(a) Recoverable Amount
Recoverable amounts are determined using the higher of value in use (based on discounted cash flow projections) or fair value.
Forecast cash flows are derived from management-approved forecasts and development forecasts covering a reasonable period.
Judgement is applied in:
Estimating the pace of pitch development or conversion (holiday to residential or owner-occupied),
Assessing achievable sales values per pitch and corresponding development costs, and
Determining future site income and margins from both existing and expanded operations.
(b) Discount Rate Selection
The discount rate reflects the risk profile of the cash flows, taking into account borrowing rates and the inherent uncertainty of future developments, to future changes in market conditions, planning outcomes, and financing costs.
Management have exercised judgement in determining the useful economic life of goodwill arising on acquisition.
For the Group’s acquisitions, goodwill primarily represents the expected long-term benefits from the development potential arising from the acquired parks. These benefits are expected to be realised over an extended period. Management have considered the anticipated timeframe expected to deliver development and conversion plans and the period over which the benefits of this are expected to arise.
Management has determined that a 10-year useful economic life is appropriate.
The average monthly number of persons (including directors) employed by the group and company during the period was:
Their aggregate remuneration comprised:
The actual (credit)/charge for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
The impairment losses in respect of financial assets are recognised in other gains and losses in the income statement.
Goodwill impairment has been recognised based on the review of the development potential of the land acquired. The group has used the fair value less cost to sell basis to value the goodwill, this was compared to the value in use present values of the operational business future cash flows. Due to the distressed nature of the sale and the limited information available at completion, the initial values applied were indicative only. The impairment review has therefore been undertaken at the acquisition date. The impairment charge is presented as an exceptional item and does not impact cash flows.
More information on impairment movements in the period is given in note 10.
Goodwill relates to the acquisition of the trade and assets of Hayling Island Holiday Park on 27 March 2024. See note 23 for details regarding this.
Both amortisation and impairment of intangible assets is charged to administrative expenses.
As part of the business combination, the freehold property assets acquired were measured at fair value in accordance with FRS 102. In determining fair value, the Group considered a recent independent valuation prepared in respect of the trading assets which applied a fair maintainable trade approach, assessing the level of sustainable turnover and profit reasonably achievable by an efficient operator and capitalising those earnings using market-supported parameters relevant to the sector.
For areas of undeveloped land not capable of being captured within a fair maintainable trade model, fair value was assessed separately using an income-based approach. This reflected the potential future economic benefits of development, adjusted for risk, infrastructure requirements and other relevant costs.
Hire-fleet assets were valued using an established third-party valuation tool widely adopted in the automotive and caravan industry, referencing individual unit characteristics and prevailing market data at the acquisition date.
All other property, plant and equipment — including fixtures, fittings and equipment — were recognised at fair value based on amounts allocated within the agreed purchase arrangements at the acquisition date.
Included in the above is land at a carrying value of £19,782,200 which is not subject to depreciation.
Details of the company's subsidiaries at 29 December 2024 are as follows:
The Group’s borrowings are secured by fixed charges over the shares of its subsidiary undertakings.
At the period end a loan balance totalling £35,893,527 was owed to the shareholders. The balance is repayable on 27 September 2027 and has an interest rate of 15% per annum.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The above is the analysis of the deferred tax balances (after offset) for financial reporting purposes.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
On 27 March 2024 the group acquired 100% of the equity instruments of Royale Resorts 2 Limited. The acquisition was accounted for using the acquisition accounting method. Recognised amounts of identifiable assets acquired and liabilities assumed at the acquisition date were as follows:
Goodwill arising from acquisition was £9,871,903. This arose from the excess of the consideration transferred over the fair value of the net assets acquired. The goodwill arising on the acquisition of the business is attributable to the anticipated future profitability of the company. The useful life is anticipated to be 10 years.
No consideration was settled in cash by the company. The controlling shareholders of the company made payment directly to the administrators in settlement of a debt owed by the administrators to the shareholders. This has been recognised in the company through a formal loan from the shareholders. The loan balance due to the ultimate owners can be seen in note 19 of the financial statements.
The loss since acquisition includes £9,356,903 of impairment losses.
During the year, interest was received on cash balances transferred to the entities under common control totalling £19,241. Interest was charged at 12.5%, based on the entities borrowing rate. Total interest was received from Country and Coastal Parks 1 Limited of £18,000 and from Coastal and Country Parks 3 of £1,240.
During the period, management charges totalling £514,843 have been charged by Country and Coastal Parks 1 Limited, an entity under common control.
The following amounts were outstanding at the reporting end date:
At the period end £3,232,125 was owed to Country and Coastal Parks 1 Limited and £138,704 was owed to Country and Coastal Parks 3 Limited, both entities under common control to this entity.
During the year interest was charged on cash transferred from entities under common control totalling £66,141. Interest was charged at 12.5%. Interest was charged by Country and Coastal Parks 1 Limited of £63,068 and Country and Coastal Parks 3 Limited of £3,073.
At the period end £35,893,527 was owed to the shareholders of the group. Interest totalling £3,935,933 was accrued on this loan during the year.
In the opinion of the directors, there is no ultimate controlling party.
In addition to the movements above, there were non cash transactions relating to the business acquisition and details of these can be seen in note 23.