Company No: 04265443 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	8,910,099		9,867,771
Investment property	5	1,063,728		1,655,512
		9,973,827		11,523,283
Current assets
Stocks	6	743,552		1,097,245
Debtors	7	6,306,532		1,547,212
Cash at bank and in hand		3,328		257
		7,053,412		2,644,714
Creditors: amounts falling due within one year	8	( 2,247,171)		( 1,470,927)
Net current assets		4,806,241		1,173,787
Total assets less current liabilities		14,780,068		12,697,070
Creditors: amounts falling due after more than one year	9	( 1,229,821)		( 1,424,304)
Provision for liabilities	10	( 877,261)		( 853,178)
Net assets		12,672,986		10,419,588
Capital and reserves
Called-up share capital		100		100
Fair value reserve		2,292,384		2,292,384
Profit and loss account		10,380,502		8,127,104
Total shareholders' funds		12,672,986		10,419,588

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have 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 Profit and Loss Account has not been delivered.

The financial statements of Vowles Parks Limited (registered number: 04265443) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

J A Vowles Director		A C Vowles Director
J E Vowles Director

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

Vowles Parks 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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 liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance
Office equipment	15 % reducing balance

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.

Land and building whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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 at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		17

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	782,073		782,073
At 31 March 2025	782,073		782,073
Accumulated amortisation
At 01 April 2024	782,073		782,073
At 31 March 2025	782,073		782,073
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost/Valuation
At 01 April 2024	9,987,959		508,448		247,146		20,000		37,024		10,800,577
Additions	165,434		70,352		139,476		0		0		375,262
Disposals	( 1,304,969)		0		( 192,483)		0		0		( 1,497,452)
At 31 March 2025	8,848,424		578,800		194,139		20,000		37,024		9,678,387
Accumulated depreciation
At 01 April 2024	382,010		363,925		145,903		15,173		25,795		932,806
Charge for the financial year	0		32,231		29,458		965		1,684		64,338
Disposals	( 159,259)		0		( 69,597)		0		0		( 228,856)
At 31 March 2025	222,751		396,156		105,764		16,138		27,479		768,288
Net book value
At 31 March 2025	8,625,673		182,644		88,375		3,862		9,545		8,910,099
At 31 March 2024	9,605,949		144,523		101,243		4,827		11,229		9,867,771

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,655,512
Additions	363,728
Disposals	(955,512)
As at 31 March 2025	1,063,728

6. Stocks

	2025		2024
	£		£
Stocks	743,552		1,097,245

7. Debtors

	2025		2024
	£		£
Trade debtors	128,364		145,071
Amounts owed by Group undertakings	750,376		1,125,276
Amounts owed by directors	15,780		0
Prepayments	46,591		56,397
VAT recoverable	0		22,822
Corporation tax	0		4,379
Other debtors	5,365,421		193,267
	6,306,532		1,547,212

Other debtors include an amount of £5,200,000 relating to the sale of land agreed and legally completed in the year ended 31 March 2025. The proceeds are due to be received in the next financial year. The amount is recognised in accordance with the accruals concept and reflects the company’s entitlement to the consideration at the reporting date.

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	631,492		554,606
Trade creditors	74,073		267,570
Amounts owed to directors	39,055		98,272
Accruals and deferred income	194,719		167,245
Taxation and social security	1,036,856		5,799
Other creditors	270,976		377,435
	2,247,171		1,470,927

Bank loans secured by a fixed and floating charge of the undertaking and properties and assets of the company.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

Other creditors consists of deposits recieved and rent received in advance.

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,229,821		1,424,304

Bank loans secured by a fixed and floating charge of the undertaking and properties and assets of the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured / repayable by instalments)	718,825		790,771

Bank loans secured by a fixed and floating charge of the undertaking and properties and assets of the company.

10. Provision for liabilities

	2025		2024
	£		£
Deferred tax	877,261		853,178

11. Related party transactions

Transactions with the entity's directors

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2024, the balance owed by the director was £nil. During the year, the company made advances to directors amounting to £35,780 and received repayments of £20,000, leaving a balance due from the directors of £15,780.

At 01 April 2023, the balance owed by the director was nil. During the year, the company made advances to directors amounting to nil and received repayments of nil, leaving a balance due from the directors of nil.

12. Ultimate controlling party

Parent Company:

Vowles Parks Holdings Limited

Ashlyn Farm, Alston Sutton Road, Upper Weare, Axbridge, Somerset, BS26 2LS, England