BRETON PARK RESIDENTIAL HOMES LTD


Director	LOVERIDGE, Ivy Marina


Registered Address	The Bungalow Riverside Caravan Park
	Dowles Road
	Bewdley
	DY12 2RE


Registered Number	09140134 (England and Wales)

Notes to the Financial Statements
for the period ended 30 July 2022

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	On 27 July 2022, shortly before the reporting date, the company entered administration and joint administrators were appointed. At that time the company's ability to continue as a going concern was dependent upon a successful rescue of its business, and a material uncertainty accordingly existed at the reporting date that cast significant doubt upon the company's ability to continue as a going concern. The circumstances giving rise to that uncertainty have since been resolved, as set out below. On 5 September 2025 the company entered into a facility agreement with MIAD Group Limited ("MIAD"), which acted as rescue funder, under which a loan of £3,950,000 was advanced to the company. The proceeds of the loan were applied in discharging the company's creditors in full and in meeting the costs of the administration. The company exited administration on 16 September 2025, and the management of its affairs returned to the directors who had held office immediately before the appointment of the administrators. On 13 October 2025 the loan of £3,950,000 was capitalised in full, MIAD subscribing for ordinary shares in the company in consideration for the discharge of the loan. Following this debt-for-equity capitalisation the company has no borrowing outstanding in respect of the facility, the company became a wholly owned subsidiary of MIAD, and, following the administration, the company forms part of a group of companies under common control. At the date of approval of these financial statements the company is solvent and trading. The directors have assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements and, having regard to the matters set out above, have a reasonable expectation that the company will continue in operational existence throughout that period. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.

Going concern

On 27 July 2022, shortly before the reporting date, the company entered administration and joint administrators were appointed. At that time the company's ability to continue as a going concern was dependent upon a successful rescue of its business, and a material uncertainty accordingly existed at the reporting date that cast significant doubt upon the company's ability to continue as a going concern. The circumstances giving rise to that uncertainty have since been resolved, as set out below.
 
On 5 September 2025 the company entered into a facility agreement with MIAD Group Limited ("MIAD"), which acted as rescue funder, under which a loan of £3,950,000 was advanced to the company. The proceeds of the loan were applied in discharging the company's creditors in full and in meeting the costs of the administration. The company exited administration on 16 September 2025, and the management of its affairs returned to the directors who had held office immediately before the appointment of the administrators.
 
On 13 October 2025 the loan of £3,950,000 was capitalised in full, MIAD subscribing for ordinary shares in the company in consideration for the discharge of the loan. Following this debt-for-equity capitalisation the company has no borrowing outstanding in respect of the facility, the company became a wholly owned subsidiary of MIAD, and, following the administration, the company forms part of a group of companies under common control.
 
At the date of approval of these financial statements the company is solvent and trading. The directors have assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements and, having regard to the matters set out above, have a reasonable expectation that the company will continue in operational existence throughout that period. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	25

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2022		2021
	Average number of employees during the year	1		1

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 August 21	2,925,730
	Additions	15,680
	At 30 July 22	2,941,410
	Depreciation and impairment
	At 01 August 21	634
	Charge for year	1,982
	At 30 July 22	2,617
	Net book value
	At 30 July 22	2,938,794
	At 31 July 21	2,925,096

5.	Debtors: amounts due within one year

	2022	2021
	£	£
Amounts owed by associates and joint ventures / participating interests	521	521
Other debtors	5,214	37,672
Prepayments and accrued income	1,103	1,103
Total	6,838	39,296

6.	Creditors: amounts due within one year

	2022	2021
	£	£
Trade creditors / trade payables	793	793
Bank borrowings and overdrafts	104,228	104,228
Amounts owed to related parties	1,069,279	1,025,164
Taxation and social security	2,287	25,338
Other creditors	22,354	8,806
Accrued liabilities and deferred income	7,588	7,587
Total	1,206,529	1,171,916

7.	Creditors: amounts due after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	1,547,984	1,675,833
Total	1,547,984	1,675,833

8.	Events after reporting date
	The company entered administration on 27 July 2022 and joint administrators were appointed. The following non-adjusting events occurred after the reporting date and before the date of approval of these financial statements. On 5 September 2025 the company entered into a facility agreement with MIAD Group Limited, under which a loan of £3,950,000 was advanced to the company. The proceeds were applied in discharging the company's creditors in full and in meeting the costs of the administration. The company exited administration on 16 September 2025 and the management of its affairs returned to the directors who had held office immediately before the appointment of the administrators. On 13 October 2025 the loan of £3,950,000 was capitalised in full, MIAD Group Limited subscribing for ordinary shares in the company in consideration for the discharge of the loan. As a result of this debt-for-equity capitalisation the company has no borrowing outstanding in respect of the facility, and the company became a wholly owned subsidiary of MIAD Group Limited. The directors do not consider that these events give rise to any adjustment to the amounts recognised in the financial statements.

Events after reporting date

The company entered administration on 27 July 2022 and joint administrators were appointed. The following non-adjusting events occurred after the reporting date and before the date of approval of these financial statements.
 
On 5 September 2025 the company entered into a facility agreement with MIAD Group Limited, under which a loan of £3,950,000 was advanced to the company. The proceeds were applied in discharging the company's creditors in full and in meeting the costs of the administration. The company exited administration on 16 September 2025 and the management of its affairs returned to the directors who had held office immediately before the appointment of the administrators.
 
On 13 October 2025 the loan of £3,950,000 was capitalised in full, MIAD Group Limited subscribing for ordinary shares in the company in consideration for the discharge of the loan. As a result of this debt-for-equity capitalisation the company has no borrowing outstanding in respect of the facility, and the company became a wholly owned subsidiary of MIAD Group Limited. The directors do not consider that these events give rise to any adjustment to the amounts recognised in the financial statements.

9.	Related party transactions
	Following the events described in the note on events after the reporting period, MIAD Group Limited became the immediate parent undertaking of the company on 13 October 2025, and the company is now under the common control of that group. During the period there were no related party transactions requiring disclosure. Subsequent to the reporting date, MIAD Group Limited advanced a loan of £3,950,000 to the company on 5 September 2025, which was capitalised in full on 13 October 2025 by the subscription of MIAD Group Limited for ordinary shares in the company in consideration for the discharge of the loan. No amount in respect of this loan remained outstanding following the capitalisation, and no balance was due to or from MIAD Group Limited at the reporting date.

Related party transactions

Following the events described in the note on events after the reporting period, MIAD Group Limited became the immediate parent undertaking of the company on 13 October 2025, and the company is now under the common control of that group.
 
During the period there were no related party transactions requiring disclosure. Subsequent to the reporting date, MIAD Group Limited advanced a loan of £3,950,000 to the company on 5 September 2025, which was capitalised in full on 13 October 2025 by the subscription of MIAD Group Limited for ordinary shares in the company in consideration for the discharge of the loan. No amount in respect of this loan remained outstanding following the capitalisation, and no balance was due to or from MIAD Group Limited at the reporting date.

10.	Controlling party
	At the reporting date the company was in administration and was under the control of its joint administrators. Subsequent to the reporting date, and as described in the note on events after the reporting period, the company exited administration and, on 13 October 2025, became a wholly owned subsidiary of MIAD Group Limited. The immediate parent undertaking is MIAD Group Limited, a company incorporated in England and Wales. The ultimate controlling party is Mrs Ivy Loveridge, by virtue of her 100% ownership of the share capital of MIAD Group Limited.

10.

Controlling party

At the reporting date the company was in administration and was under the control of its joint administrators. Subsequent to the reporting date, and as described in the note on events after the reporting period, the company exited administration and, on 13 October 2025, became a wholly owned subsidiary of MIAD Group Limited.
 
The immediate parent undertaking is MIAD Group Limited, a company incorporated in England and Wales. The ultimate controlling party is Mrs Ivy Loveridge, by virtue of her 100% ownership of the share capital of MIAD Group Limited.

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	4		2,938,794		2,925,096
			2,938,794		2,925,096
Current assets
Debtors	5	6,838		39,296
Cash at bank and on hand		46,859		98,099
		53,697		137,395
Creditors amounts falling due within one year	6	(1,206,529)		(1,171,916)
Net current assets (liabilities)			(1,152,832)		(1,034,521)
Total assets less current liabilities			1,785,962		1,890,575
Creditors amounts falling due after one year	7		(1,547,984)		(1,675,833)
Provisions for liabilities			-		(19)
Net assets			237,978		214,723
Capital and reserves
Called up share capital			100		100
Profit and loss account			237,878		214,623
Shareholders' funds			237,978		214,723