Registered number: 10656532
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Director presents his Strategic report for the year ended 31 March 2026.
The Group is a leading operator and developer of premium residential mobile home park estates and holiday caravan parks across England managing 11 fully consented communities comprising 1,500 individual pitches under the principal statutes and governance of The Caravan Sites and Control of Development Act 1960 and The Mobile Homes Act 1983.
The principal activity of Monte Carlo Parks Limited continues to be that of a holding company of 11 wholly owned subsidiary undertakings listed in Note 14 to the Financial Statements (the Group or Monte Carlo Parks).
The Group has had a year of consolidation with assets under management remaining consistent at ca £60m following last year’s highly acquisitive growth strategy. The core value drivers are: regulated pitch fees, a stable and recurring income stream indexed to the Consumer Price Index (CPI); new homes sales and upgrades representing high margin revenue from selling new manufactured homes; and infrastructure upgrades with capital being deployed to modernise park utilities, pitch bases and other amenities.
The Group focused during 2026 on the development of new pitches within the park portfolio and has developed ca 300 pitches capitalising ca £5m of development cost and ca £4m of stock to service the pitches. The Group has met its annual sales targets outlined in the 5-year forecasts to March 2029 in terms of new home sales and therefore remains financially robust. Industry margins are being actively squeezed by rising domestic energy utility tariffs, rising building raw material prices and increased wage costs with some of these pressures mitigated by fixing electricity prices across the Group’s portfolio to March 2031.
The residential mobile home market is highly attractive to institutional investors, private operators, and residents alike given its sticky resident base and inflation linked growth with extreme supply constraints, meeting an affordable housing crisis particularly in the Southeast with the primary demographic being retirees and downsizers.
With the increases of the cost of living, the residential park home market remains attractive to an ageing population (typically 55+), this age bracket expanding rapidly across Western economies providing a growing pool of motivated buyers looking to equity-release from traditional homes. With traditional brick-and-mortar home prices outstripping wage growth, manufactured housing offers a high-quality, detached housing alternative at a fraction of the cost (often 30% to 50% cheaper per square foot). This demand is clearly demonstrated with our annual sales target of 2026/27 for residential homes being met in Q1 to June 26.
While the post-pandemic staycation boom has stabilised, the UK holiday park sector shows modest, steady revenue growth alongside shifting investor dynamics. The holiday park sector is facing heightened scrutiny regarding arbitrary pricing structures which we have mitigated by adopting completely transparent, fixed CPI index linked long term license agreements for private owners to prevent legal disputes regarding unfair pitch fee hikes, practices and/or hidden sales commissions.
The Group’s income comprises pitch fees, park home and static caravan sales, boatyard income, sales commissions, LPG gas sales and resales of utility expenses. The Group’s accounts reflect turnover of £12,111,518 (2025: £9,065,328), pre-tax profits £2,070,872 (2025: £2,103,765) and balance sheet reserves of £30,298,612 (2025: £31,468,338).
The Group operates geographically and strategically across England only.
Major sources of uncertainty which could result in a material adjustment within the next financial year are:
∙Macroeconomic shifts or risks with volatility in interest rates and inflation
∙Infrastructure failure to the utility services such as water, electricity and gas cutting off residents
∙Legislative and regulatory changes with revisions to the Mobile Homes Act to commission structures muted on reducing sales commissions from 10%
∙The ability of suppliers and contractors to deliver their contractual obligations on time and on budget
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Group produces quarterly financial statements monitoring over a rolling 12-month period banking financial covenants: cashflow cover reviewing changes in cashflow from operations to debt service; Gross Leverage comparing EBITDA to total debt, and loan to value measuring total debt to value of the park portfolio undertaken from independent valuers.
Details of each individual mobile home sale are recorded monitoring the home manufacturer, model, plot number, pitch size, actual sale price agreed versus marketing price, the residential property exchange value offered and subsequently realised together with estimated time to financial and legal completion.
The Group aims to have 75% occupancy of its total pitches and 25% of development or new home sales to service its senior debt requirements.
This report was approved by the board and signed on its behalf.
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DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The director presents his report and the financial statements for the year ended 31 March 2026.
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,678,351 (2025: £1,609,911).
There were no dividends paid in the year (2025: £Nil).
The director who served during the year was:
Developments post year end include the grant of planning permission by Great Yarmouth Borough Council in May and July to operate Seabreeze and Seafield Holiday Caravan Park all year round extending the site licence from 8 months to 12 months significantly increasing the opportunities for revenue generation and overall asset value. Independent valuer Avison Young will be revaluing the portfolio of parks within the Group later in the year.
The Group has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the Company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 it must be stated in the Director's Report that it has done so. This includes information that would have been included in the business review and the principal risks and uncertainties.
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DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MONTE CARLO PARKS LTD
We have audited the financial statements of Monte Carlo Parks Ltd (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2026, which comprise the Consolidated statement of comprehensive income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Statement of Cash Flows, the Consolidated analysis of net debt and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MONTE CARLO PARKS LTD (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MONTE CARLO PARKS LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙The Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations that were most significant included:
−The Companies Act 2006;
−Financial Reporting Standard 102;
−UK employment legislation;
−UK Health and Safety legislation;
−UK General Data Protection Regulation; and
−UK tax legislation.
∙We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Group is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of board minutes.
∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Group financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
−Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
−Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
−Challenging assumptions and judgments made by management in its significant accounting estimates; and
−Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
−The application of inappropriate judgments or estimates to manipulate the Group's financial position;
−Posting of unusual journals and complex transactions; and
−The use of management override of controls to manipulate results, or to cause the Group to enter into transactions not in its best interests.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MONTE CARLO PARKS LTD (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditor
2nd Floor, Origin One
108 High Street
RH10 1BD
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 35 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 35 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
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CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Monte Carlo Parks Ltd is a private company limited by shares incorporated in England and Wales. Details of the Company's registered office can be found on the Company information page. The Company's principal place of business is Yarwell Mill Country Park, Mill Road, Peterborough, PE8 6PZ.
The principal activity of the Group is that of the operation of mobile home and holiday parks.
The Group and Company's functional and presentation currency is GBP, rounded to the nearest £1.
The principal activity of the Group is that of the operation of mobile home and holiday parks.
The Group and Company's functional and presentation currency is GBP, rounded to the nearest £1.
2.Accounting policies
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 Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income or cashflow statement in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
As at 31 March 2026 the Group had net current assets of £445,255 (2025: net current liabilities of £316,402), and the Group made a profit of £1,678,351 (2025: £1,609,911) in the year.
After a review of the forecasts and renegotiation of the banking facilities the director has a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. On the basis of his assessment of the Group's financial position, the Group's director continues to adopt the going concern basis of accounting in preparing the Group's financial statements.
After a review of the forecasts and renegotiation of the banking facilities the director has a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. On the basis of his assessment of the Group's financial position, the Group's director continues to adopt the going concern basis of accounting in preparing the Group's financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Pitch fees
Pitch fees are recognised on an accruals basis in the period to which they relate.
Sales of park homes, caravans and other items
Sales of park homes, caravans and other items are 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.
Commissions
Commissions are recognised on an accruals basis in the period to which they relate.
Recharges
Recharges are recognised on an accruals basis in the period to which they relate.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Goodwill
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Goodwill and negative goodwill are being amortised over a period of 5 years which is the most reliable estimate made by the director.
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:
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Basic 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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Key source of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual results. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Property valuations
The key source of estimation uncertainty relates to the valuation of the freehold property portfolio, where valuations are conducted regularly by professional valuers. The evidence to support the valuations is based primarily on recent, comparable market transactions on an arm's length basis or from consideration of yields on similar properties. However, the assumptions applied are inherently subjective and so are subject to a degree of uncertainty.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
10.Taxation (continued)
There are no factors that may affect future tax charges.
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