Company registration number 10984258 (England and Wales)
GAINSBOROUGH PARK HOMES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
GAINSBOROUGH PARK HOMES LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
GAINSBOROUGH PARK HOMES LTD
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,200
11,200
Tangible assets
4
1,046,858
1,062,225
Investment properties
5
7,057,760
6,967,760
8,111,818
8,041,185
Current assets
Stocks
5,480
5,532
Debtors
6
5,849
7,288
Cash at bank and in hand
51,522
92,420
62,851
105,240
Creditors: amounts falling due within one year
7
(138,274)
(165,614)
Net current liabilities
(75,423)
(60,374)
Total assets less current liabilities
8,036,395
7,980,811
Provisions for liabilities
(959,440)
(937,194)
Net assets
7,076,955
7,043,617
Capital and reserves
Called up share capital
3,062,852
3,062,852
Revaluation reserve
8
3,632,000
3,564,500
Distributable profit and loss reserves
382,103
416,265
Total equity
7,076,955
7,043,617

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

GAINSBOROUGH PARK HOMES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 June 2026 and are signed on its behalf by:
Mr M P Lee
Mrs P Lee
Director
Director
Mrs J Allen
Mr S Allen
Director
Director
Company Registration No. 10984258
GAINSBOROUGH PARK HOMES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Share capital
Non-distri-butable profits
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2024
3,062,752
176,106
364,709
3,603,567
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
3,388,394
131,556
3,519,950
Issue of share capital
100
-
-
100
Dividends
-
-
(80,000)
(80,000)
Balance at 31 March 2025
3,062,852
3,564,500
416,265
7,043,617
Year ended 31 March 2026:
Profit and total comprehensive income for the year
-
67,500
(162)
67,338
Dividends
-
-
(34,000)
(34,000)
Balance at 31 March 2026
3,062,852
3,632,000
382,103
7,076,955
GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

Gainsborough Park Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cottage, Gainsborough Park, Foxhole, St Austell, Cornwall, UK, PL26 7SL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation on freehold land. Depreciation on buildings, roads and infrastructure at 2% per annum on a straight line basis
Plant and equipment
at 15% / 25% per annum on the reducing balance method
Motor vehicles
25% per annum on the reducing balance method
Mobile homes (Villager Units)
at 2% per annum on the straight line method

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.

GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.9
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 current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
6
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
40,000
Amortisation and impairment
At 1 April 2025
28,800
Amortisation charged for the year
4,000
At 31 March 2026
32,800
Carrying amount
At 31 March 2026
7,200
At 31 March 2025
11,200
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Mobile homes (Villager Units)
Total
£
£
£
£
Cost
At 1 April 2025
539,000
18,452
691,549
1,249,001
Additions
540
-
0
101,514
102,054
Disposals
-
0
-
0
(91,514)
(91,514)
At 31 March 2026
539,540
18,452
701,549
1,259,541
Depreciation and impairment
At 1 April 2025
75,900
11,293
99,583
186,776
Depreciation charged in the year
10,791
1,085
14,031
25,907
At 31 March 2026
86,691
12,378
113,614
212,683
Carrying amount
At 31 March 2026
452,849
6,074
587,935
1,046,858
At 31 March 2025
463,100
7,159
591,966
1,062,225
GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
5
Investment property
2026
£
Fair value
At 1 April 2025
6,967,760
Revaluations
90,000
At 31 March 2026
7,057,760

Investment property comprises land at Gainsborough Park less the value of the buildings thereon. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 15 July 2025 by Gabriela Williams, a Leisure Business Agent of Christie Owen & Davies Limited T/A Christie & Co, specialist advisors in the buying and selling of businesses. The Directors of the company consider this valuation to be accurate as at 31 March 2026.

The revalution in the year relates to the property owned at the Land adjacent to Pedna Carne, which had not been included in the valuation of the park undertaken by Christie & Co. An additional value was calculated provided by Savills by a report on 27 April 2026 for the Land adjacent to Pedna Carne.

6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
4,582
3,018
Other debtors
1,267
4,270
5,849
7,288
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
-
0
59,733
Trade creditors
14,845
10,198
Corporation tax
38,500
52,968
Other creditors
84,929
42,715
138,274
165,614

Included within other creditors are amount s owed to the director s total l ing £84,929 (20 25: £42,715). This balance has no fixed terms of repayment and interest has not been charged.

GAINSBOROUGH PARK HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
8
Revaluation reserve
2026
2025
£
£
At the beginning of the year
3,564,500
176,106
Non distributable profits in the year
67,500
3,388,394
At the end of the year
3,632,000
3,564,500
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