Ocean Leisure Parks Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12113481

Ocean Leisure Parks Ltd

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Ocean Leisure Parks Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Ocean Leisure Parks Ltd

Officers and Professional Advisers

The board of directors	Mr R T Ennis
	Mrs S A Ennis

Registered office	Crofty Showground
	Llanteg
	Narberth
	Wales
	SA67 8QE

Accountants	Clay Shaw Thomas Ltd

	2 Oldfield Road
	Bocam Park
	Bridgend
	CF35 5LJ

Bankers	Barclays Bank plc
	Llanelli Business Centre
	PO Box 25
	Llanelli
	SA15 1XJ

Ocean Leisure Parks Ltd

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Ocean Leisure Parks Ltd

Year ended 31 December 2024

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Clay Shaw Thomas Ltd

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

11 December 2025

Ocean Leisure Parks Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	70,000	84,000
Tangible assets	6	1,978,040	1,281,209
Investments	7	879,850	69,772
		------------	------------
		2,927,890	1,434,981

Current assets

Stocks		211,175	404,732
Debtors	8	100,746	180,782
Cash at bank and in hand		140,247	995,336
		---------	------------
		452,168	1,580,850

Creditors: amounts falling due within one year	9	493,571		677,679
		---------		------------
Net current (liabilities)/assets			( 41,403)	903,171
			------------	------------
Total assets less current liabilities			2,886,487	2,338,152

Creditors: amounts falling due after more than one year	10		2,316,276	1,732,140

Provisions

Taxation including deferred tax	5,685	7,759
	------------	------------
Net assets	564,526	598,253
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	564,524	598,251
	---------	---------
Shareholders funds	564,526	598,253
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ocean Leisure Parks Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

Mr R T Ennis

Director

Company registration number: 12113481

Ocean Leisure Parks Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crofty Showground, Llanteg, Narberth, SA67 8QE, Wales.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future and conclude that the company has adequate resources to to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts for goods supplied and rental received, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Rental income is recognised on a systematic basis over the lease term. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Furniture, equipment and other fixed assets	-	20% straight line
Motor vehicles	-	10% reducing balance
Equipment	-	20% straight line

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	140,000
	---------
Amortisation
At 1 January 2024	56,000
Charge for the year	14,000
	---------
At 31 December 2024	70,000
	---------
Carrying amount
At 31 December 2024	70,000
	---------
At 31 December 2023	84,000
	---------

6. Tangible assets

	Land and buildings	Furniture, equipment and other fixed assets	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	1,250,175	43,385	11,950	4,647	1,310,157
Additions	705,127	2,450	–	–	707,577
	------------	--------	--------	-------	------------
At 31 December 2024	1,955,302	45,835	11,950	4,647	2,017,734
	------------	--------	--------	-------	------------
Depreciation
At 1 January 2024	–	21,633	3,819	3,496	28,948
Charge for the year	–	9,004	813	929	10,746
	------------	--------	--------	-------	------------
At 31 December 2024	–	30,637	4,632	4,425	39,694
	------------	--------	--------	-------	------------
Carrying amount
At 31 December 2024	1,955,302	15,198	7,318	222	1,978,040
	------------	--------	--------	-------	------------
At 31 December 2023	1,250,175	21,752	8,131	1,151	1,281,209
	------------	--------	--------	-------	------------

7. Investments

	Shares in group
	£
Cost
At 1 January 2024	69,772
Additions	810,078
	---------
At 31 December 2024	879,850
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	879,850
	---------
At 31 December 2023	69,772
	---------

8. Debtors

	2024	2023
	£	£
Trade debtors	34,617	170,643
Other debtors	66,129	10,139
	---------	---------
	100,746	180,782
	---------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	100,282	40,282
Trade creditors	203,065	374,524
Amounts owed to group undertakings and undertakings in which the company has a participating interest	107,313	–
Social security and other taxes	28,828	123,486
Other creditors	54,083	139,387
	---------	---------
	493,571	677,679
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	830,647	451,157
Amounts owed to group undertakings and undertakings in which the company has a participating interest	106,768	94,173
Other creditors	1,378,861	1,186,810
	------------	------------
	2,316,276	1,732,140
	------------	------------

Included within creditors: amounts falling due after more than one year is an amount of £429,519 (2023: £341,439) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Included in creditors are amounts owed to group undertakings of £106,768 (2023: £94,173) which are free of interest and have no fixed terms of repayment.

11. Related party transactions

Zed Ten Caravans & Transport Limited is a 100% subsidiary of Ocean Leisure Parks Limited, and as such has taken advantage of the exemption stated in FRS102 which does not require the disclosure of transactions between group companies if at least 100% of the voting rights are controlled within the group. Included within creditors are loans issued by the company directors:

		2024
		£
	Director loan as at 1 January 2024	405,537
	Capital repayments	(475,375)
	Capital introduced	809,764
	Interest net of tax	39,914
		---------
	Director loan as at 31 December 2024	779,840
		---------

Interest is charged at 8% and the lender is required to provide the company with a minimum of 12 months' advance notice before they can fully repay the loan. During the year the company paid costs on behalf of Sardis Leisure Limited, a company under common control. At the year end the company owed £4,886 (2023:£7,886) in respect of these costs. During the year, Tenby Tourers Limited, a company under common control, paid costs on behalf of the company. At the year end the company owed £599,021 (2023:£781,273) in respect of these costs.

12. Ultimate control

The company is under the ultimate control of Mr R T Ennis and Mrs S A Ennis who between them own 100% of the issued share capital.