Sardis Leisure Park Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12441678

Sardis Leisure Park Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Sardis Leisure Park Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	82,667	98,167
Tangible assets	6	938,901	917,735
		------------	------------
		1,021,568	1,015,902

Current assets

Stocks		63,750	–
Debtors	7	13,562	15,376
Cash at bank and in hand		49,834	63,968
		---------	--------
		127,146	79,344

Creditors: amounts falling due within one year	8	258,231		188,635
		---------		---------
Net current liabilities			131,085	109,291
			------------	------------
Total assets less current liabilities			890,483	906,611

Creditors: amounts falling due after more than one year	9		796,767	801,110

Provisions	1,628	2,409
	---------	---------
Net assets	92,088	103,092
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	92,086	103,090
	--------	---------
Shareholders funds	92,088	103,092
	--------	---------

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 income and retained earnings 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 .

Sardis Leisure Park Limited

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:

Mrs S A Ennis

Director

Company registration number: 12441678

Sardis Leisure Park Limited

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, Wales, SA67 8QE.

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.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue represents the amounts derived from the provision of services which fall within the company's ordinary activities, measured ate the fair value of consideration received, net of discounts, rebates and value added tax. Revenue received from holiday sales is initially deferred and subsequently recognised when the holiday commences. Sales of goods through onsite facilities are shown net of returns and discounts. Retail sales are generally recognised at the point of cash receipt. 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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:

	Plant and machinery	-	25% reducing balance

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.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Intangible assets

	Goodwill	Other intangible assets
	£	£
Cost
At 1 January 2024 and 31 December 2024	155,000	–
	---------	----
Amortisation
At 1 January 2024	56,833	–
Charge for the year	15,500	–
	---------	----
At 31 December 2024	72,333	–
	---------	----
Carrying amount
At 31 December 2024	82,667	–
	---------	----
At 31 December 2023	98,167	–
	---------	----

6. Tangible assets

	Investment property	Plant and machinery	Office	Total
	£	£	£	£
Cost
At 1 January 2024	862,090	12,500	46,010	920,600
Additions	24,291	–	–	24,291
	---------	--------	--------	---------
At 31 December 2024	886,381	12,500	46,010	944,891
	---------	--------	--------	---------
Depreciation
At 1 January 2024	–	2,865	–	2,865
Charge for the year	–	3,125	–	3,125
	---------	--------	--------	---------
At 31 December 2024	–	5,990	–	5,990
	---------	--------	--------	---------
Carrying amount
At 31 December 2024	886,381	6,510	46,010	938,901
	---------	--------	--------	---------
At 31 December 2023	862,090	9,635	46,010	917,735
	---------	--------	--------	---------

The directors confirm there is no change in the fair value of the investment property.

7. Debtors

	2024	2023
	£	£
Other debtors	13,562	15,376
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	36,687	36,268
Trade creditors	64,999	4,738
Social security and other taxes	23,142	4,559
Other creditors	133,403	143,070
	---------	---------
	258,231	188,635
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	450,122	487,227
Other creditors	346,645	313,883
	---------	---------
	796,767	801,110
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £303,375 (2023: £342,153) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Directors' advances, credit and guarantees

The directors have provided a personal guarantee to the amount of £150,000 in respect of the bank loan.

11. Related party transactions

Included within other creditors are loans owed to the company directors of £172,944 (2023: £172,944). There are no fixed terms of repayment or interest charged. Included within debtors are amounts owed from Ocean Leisure Parks Limited of £4,886 (2023: £2,114 owed to), a company related through common control. During the year the company incurred costs of £29,332 (2023: £34,615) from Tenby Tourers Limited, a company under common control. At the year end the company owed £173,724 (2023: £140,961) to Tenby Tourers Limited. During the year the company incurred costs of £nil (2023: £2,038) which were paid by Zed Ten Caravans & Transport Limited, a company under common control. At the year end the company owed £88,936 (2023: £96,903).

12. Controlling party

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.