Tranquil Holiday Parks Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Tranquil Holiday Parks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12752179 . The registered office is C/O Southern Accounting Ltd, 24 Halden Field, Rolvenden, Cranbrook, Kent, TN17 4BX.

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. Going Concern Disclosure

These financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

At 31 December 2024 the company had net current liabilities of £965,029 and was operating within an overdraft facility. During the financial year, the company entered into a number of hire-purchase and finance agreements totalling approximately £1.05 million, giving rise to monthly repayments of around £21,000. After the year end, further agreements amounting to approximately £295,000 were entered into, with additional monthly repayments of approximately £7,000.

The directors have prepared cash-flow forecasts covering a period of at least twelve months from the date of approval of these financial statements. The forecasts indicate that, while the company will continue to experience tight cash-flow management, it will be able to meet its liabilities as they fall due, provided ongoing lender and shareholder support continues.

The shareholders have confirmed that they remain committed to supporting the business financially for the foreseeable future, including at least twelve months from the date of approval of these financial statements. The directors also believe that the company will continue to receive the support of its lenders, and no breaches of loan covenants have occurred up to the date of approval of these financial statements.

These factors indicate that the going concern basis of preparation remains appropriate. However, the company's dependence on lender and shareholder support gives rise to a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

2.3. 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.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Not Depreciated
Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	25% Reducing Balance

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Tranquil Holiday Parks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	490,000
Additions	312,954

As at 31 December 2024	802,954

...CONTINUED

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Tranquil Holiday Parks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	100,148
Provided during the period	56,390

As at 31 December 2024	156,538

Net Book Value
As at 31 December 2024	646,416

As at 1 January 2024	389,852

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 January 2024	3,411,744	72,939	-	4,748
Additions	1,915,770	1,023,738	277,400	16,459
Disposals	-	(4,557 )	(29,413 )	-
Revaluation	750,000	-	-	-

As at 31 December 2024	6,077,514	1,092,120	247,987	21,207

Depreciation
As at 1 January 2024	-	12,634	-	1,598
Provided during the period	-	15,570	15,997	2,079
Disposals	-	(2,380 )	(1,459 )	-

As at 31 December 2024	-	25,824	14,538	3,677

Net Book Value
As at 31 December 2024	6,077,514	1,066,296	233,449	17,530

As at 1 January 2024	3,411,744	60,305	-	3,150


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 January 2024	1,957	3,491,388
Additions	3,420	3,236,787
Disposals	-	(33,970 )
Revaluation	-	750,000

As at 31 December 2024	5,377	7,444,205

Depreciation
As at 1 January 2024	917	15,149
Provided during the period	540	34,186
Disposals	-	(3,839 )

As at 31 December 2024	1,457	45,496

...CONTINUED

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Tranquil Holiday Parks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	3,920	7,398,709

As at 1 January 2024	1,040	3,476,239

6. Stocks

	2024	2023
	£	£
Stock	264,886	235,601

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	(11,658 )	71,128
Prepayments and accrued income	45,731	21,730
Other debtors	5,166	-
VAT	46,401	-
Amounts owed by subsidiaries	94,405	-

	180,045	92,858

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	214,391	-
Trade creditors	49,270	8,840
Bank loans and overdrafts	144,365	45,553
Corporation tax	2,768	90,510
Other taxes and social security	2,887	829
VAT	-	51,707
Net wages	-	257
Other creditors	2,311	12,025
Accruals and deferred income	271,641	337,261
Directors' loan accounts	616,187	214,518

	1,303,820	761,500

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

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	842,527	-
Bank loans	3,450,966	1,865,884

	4,293,493	1,865,884

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

	2024		2023
	£		£
Bank loans	2,952,988		1,660,301

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Tranquil Holiday Parks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	214,391	-
Later than one year and not later than five years	842,527	-

	1,056,918	-

	1,056,918	-

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	16,079	16,079

12. Reserves

	Revaluation Reserve
	£
Surplus on revaluation	562,500

As at 31 December 2024	562,500

13. Post Balance Sheet Events

Subsequent to the year end, the company entered into further finance and hire-purchase agreements totalling approximately £295,000 with aggregate monthly repayments of approximately £6,700. These arrangements were entered into after 31 December 2024 and therefore represent non-adjusting post balance-sheet events. They do no affect the results for the year ended 31 December 2024 but will increase future cash-flow commitments.

14. Related Party Transactions

At 31 December 2024, a loan balance of £616,187 (2023: £214,774) was due to the director. Of this balance £200,000 represents a loan that is ring-fenced and carries interest at a rate of 0.5% below the Bank of England base rate. The loan is unsecured and not repayable within twelve months of the balance-sheet date. Interest charged on this loan during the year amounted to £4,332.89. The interest was not paid during the year but has been added to the outstanding directors' loan balance at the year end. The remaining balance of £416,187 is interest-free, unsecured, and repayable on demand. No guarantees have been given by the company in respect of the directors' loans.

The directors have provided personal guarantees to certain lenders in respect of the company's finance and hire-purchase agreements. At the balance-sheet date, the total finance subject to such guarantees amounted to approximately £679,000. No remuneration or other consideration has been provided to the directrs in connection with these guarantees. These transactions and guarantees were entered into in the normal course of business and on terms that the directors consider to be no less favourable than those that would have been available on an arm's-length basis.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		646,416		389,852
Tangible Assets	5		7,398,709		3,476,239

			8,045,125		3,866,091
CURRENT ASSETS
Stocks	6	264,886		235,601
Debtors	7	180,045		92,858
Cash at bank and in hand		-		426,265

		444,931		754,724
Creditors: Amounts Falling Due Within One Year	8	(1,303,820 )		(761,500 )

NET CURRENT ASSETS (LIABILITIES)			(858,889 )		(6,776 )

TOTAL ASSETS LESS CURRENT LIABILITIES			7,186,236		3,859,315

Creditors: Amounts Falling Due After More Than One Year	9		(4,293,493 )		(1,865,884 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(5,250 )		-
Deferred Taxation			(206,380 )		(1,511 )

NET ASSETS			2,681,113		1,991,920

CAPITAL AND RESERVES
Called up share capital	11		16,079		16,079
Share premium account			1,581,624		1,581,624
Revaluation reserve	12		562,500		-
Profit and Loss Account			520,910		394,217

SHAREHOLDERS' FUNDS			2,681,113		1,991,920