ACCOUNTS - Final Accounts preparation

Registered number: 08270725

PINEHURST PARK HOMES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 MARCH 2025

PINEHURST PARK HOMES LIMITED

REGISTERED NUMBER: 08270725

BALANCE SHEET

AS AT 30 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		9,888,999		9,923,358
Current assets
Stocks	5	427,445		92,893
Debtors: amounts falling due within one year	6	1,727,235		1,717,727
Cash at bank and in hand		50,120		312
		2,204,800		1,810,932
Creditors: amounts falling due within one year	7	(4,269,517)		(8,578,541)
Net current liabilities			(2,064,717)		(6,767,609)
Total assets less current liabilities			7,824,282		3,155,749
Creditors: amounts falling due after more than one year	8		(4,820,424)		(23,740)
Provisions for liabilities
Deferred tax	10	(15,407)		(10,069)
			(15,407)		(10,069)
Net assets			2,988,451		3,121,940

Capital and reserves
Called up share capital	11		100		100
Profit and loss account			2,988,351		3,121,840
			2,988,451		3,121,940

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PINEHURST PARK HOMES LIMITED

REGISTERED NUMBER: 08270725

BALANCE SHEET (CONTINUED)

AS AT 30 MARCH 2025

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr H Simmons

Director

Date: 18 December 2025

The notes on pages 3 to 11 form part of these financial statements.

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PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

1.	GENERAL INFORMATION

Pinehurst Park Homes Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ.

The principal activity of the Company continued to be that of the ownership and operation of a residential park.

This Company is part of a group with the parent being H&S Simmons Ltd.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is Pounds sterling.

The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because of continued group support and because sufficient funds will be generated from future trading for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.

The financial statements do not include any adjustments that would result from the withdrawal of this support.

2.3

TURNOVER

Turnover is recognised by the Company to the extent that it obtains the right to consideration in exchange for its performance. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Monies received in advance are treated as deferred income and held as payments on account.

Rent, commission, pitch fees and recharges
Income is recognised on an accruals basis in the period to which they relate.

Sales of mobile homes
Income is recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.

Page 3

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Freehold property	-	Not depreciated
				Plant and machinery	-	25% straight line
				Motor vehicles	-	25% reducing balance
				Fixtures and fittings	-	25% straight line
				Office equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

2.5

STOCK AND WORK IN PROGRESS

Stock are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.11

LEASED ASSETS: THE COMPANY AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets or held as stock. Assets capitalised as tangible fixed assets, acquired by finance lease, are depreciated over the shorter of the lease term and their useful lives. Assets capitalised as tangible fixed assets, acquired by hire purchase, are depreciated over their useful live. 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.12

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 5

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.13

CORPORATION AND DEFERRED TAXATION

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 6


		PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

4.

TANGIBLE FIXED ASSETS

		Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
		£	£	£	£	£	£
	Cost
	At 31 March 2024	10,148,857	74,523	171,507	67,662	16,689	10,479,238
	Additions	1,095	1,103	-	27,546	10,972	40,716
	Disposals	-	-	-	(79,980)	-	(79,980)
	At 30 March 2025	10,149,952	75,626	171,507	15,228	27,661	10,439,974
	Depreciation
	At 31 March 2024	360,017	49,019	87,302	48,033	11,509	555,880
	Charge for the year on owned assets	-	17,096	8,545	1,001	3,177	29,819
	Charge for the year on financed assets	-	-	12,505	-	-	12,505
	Disposals	-	-	-	(47,229)	-	(47,229)
	At 30 March 2025	360,017	66,115	108,352	1,805	14,686	550,975
	Net book value
	At 30 March 2025	9,789,935	9,511	63,155	13,423	12,975	9,888,999
	At 30 March 2024	9,788,840	25,504	84,205	19,629	5,180	9,923,358

Page 7

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

4.TANGIBLE FIXED ASSETS (CONTINUED)

	The net book value of land and buildings may be further analysed as follows:
					2025	2024
					£	£

	Freehold	9,789,935	9,788,840
		9,789,935	9,788,840

The property was professionally revalued in August 2023 by agents at market value, the Director considers there to be no material change to this valuation as at 31 March 2025 and a professional valuation has not been carried out since August 2023.

	The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
					2025	2024
					£	£


	Motor vehicles	37,515	50,020

5.	STOCKS AND WORK IN PROGRESS
					2025	2024
					£	£

	Work in progress	61,240	15,402
	Stock	366,205	77,491
		427,445	92,893

Stock amounting to £67,164 (2024 - £179,662) are obtained under hire purchase contracts and finance leases, these are secured on the assets to which they relate.

6.

DEBTORS


					2025	2024
					£	£


	Amounts owed by group undertakings	747,793	820,705
	Other debtors	977,027	835,432
	Prepayments and accrued income	2,415	61,590
		1,727,235	1,717,727

Page 8

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

7.	CREDITORS: Amounts falling due within one year
					2025	2024
					£	£

	Bank loans	709,995	7,121,698
	Trade creditors	88,083	66,513
	Amounts owed to group undertakings	2,406,859	667,960
	Corporation tax	418,491	360,892
	Obligations under finance lease and hire purchase contracts	84,553	26,746
	Other creditors	455,264	325,260
	Accruals and deferred income	106,272	9,472
		4,269,517	8,578,541

8.	CREDITORS: Amounts falling due after more than one year
					2025	2024
					£	£

	Bank loans	4,812,712	-
	Net obligations under finance leases and hire purchase contracts	7,712	23,740
		4,820,424	23,740

Details of security provided:

The bank loans of £5,522,707 (2024 - £7,121,698) are secured over the freehold property to which they relate.

The finance leases and hire purchase contracts of £92,265 (2024 - £50,486) are secured over the assets to which they relate.

9.	LOANS
	Analysis of the maturity of loans is given below:
					2025	2024
					£	£

	Amounts falling due within one year
	Bank loans	709,995	7,121,698
	Amounts falling due 1-2 years
	Bank loans	4,812,712	-


		5,522,707	7,121,698

The bank loans of £5,522,707 (2024 - £7,121,698) are secured over the freehold property to which they relate.

Page 9

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

10.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(10,069)
	Charged to profit or loss	(5,338)
	At end of year	(15,407)

	The provision for deferred taxation is made up as follows:
					2025	2024
					£	£

	Accelerated capital allowances	(15,407)	(10,069)
		(15,407)	(10,069)

11.	SHARE CAPITAL
					2025	2024
					£	£

		Allotted, called up and fully paid

		100 (2024 - 100) ordinary shares of £1.00 each	100	100

12.

RELATED PARTY TRANSACTIONS

During the year the Company operated loans with the Directors of the Company. The amount owed from the Director at the end of the year was £709,726 (2024 - £615,039). Interest of £13,238 (2024 - £10,763) has been charged to the profit and loss account. The loan, which is unsecured and repayable on demand, is shown within debtors.

During the year the Company continued its intercompany loan with its fellow subsidiaries and parent company. The net balance owed to group companies is £1,659,066 (2024 - £152,745) owed from group companies). This is shown within debtors and creditors. The balance is interest free and repayable on demand.

Page 10

PINEHURST PARK HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

13.	CONTINGENT LIABILITIES

The company is jointly and severally liable in respect of the group's bank loan facilities, which amounted to £2,931,556 as at 31 March 2025 (2024 - £6,551,846). A debenture is secured over group assets.

14.	CONTROLLING PARTY

The immediate and ultimate parent undertaking is H & S Simmons Limited by virtue of a 100% shareholding in Pinehurst Park Homes Limited.

The Ultimate Controlling Party is Mr H Simmons and Mrs G Simmons by virtue of their joint shareholding in H & S Simmons Limited.

Page 11