| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Acorn Parks Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Acorn Parks Limited |
| Acorn Parks Limited (Registered number: 04341391) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Acorn Parks Limited (Registered number: 04341391) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Acorn Parks Limited (Registered number: 04341391) |
| Balance Sheet - continued |
| 31 March 2025 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Acorn Parks Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Summary of significant accounting policies and key accounting estimates |
| Going concern |
| The company is dependent on the continued financial support of the Directors, its bankers and Oak Tree Parks Limited through the use of an overdraft facility and loan accounts. On the basis that this support will continue, the accounts have been prepared on a going concern basis. |
| Turnover recognition |
| Turnover comprises of revenue recognised by the company in respect of caravan sales, recharged costs, pitch fees and rental income, exclusive of Value Added Tax and trade discounts. Turnover is recognised for caravan sales upon transfer of ownership of the caravan to the customer and recognised upon services provided for recharged costs, pitch fees and rental income. |
| Turnover is adjusted to ensure that income in advance of services being provided is deferred and recognised in the appropriate period. |
| Goodwill |
| Goodwill is amortised over the useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. All goodwill has been fully amortised. |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible assets |
| Freehold property | - |
| Fleet Units | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| All fixed assets are initially recorded at cost. |
| Tools costing less than £1,000 are written off directly to the profit and loss account. |
| An assessment of the net realisable value of freehold property at market value has been undertaken. On the basis that the property will be maintained and such repair costs will be charged to the profit and loss account, it is the view of the Directors that the net realisable value equates to market value. Depreciation is charged on freehold property (excluding land) on the market value less the estimated residual value over 50 years. On the basis of the above, no charge is deemed necessary. |
| Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards. |
| Shortfall between the carrying value of fixed asset and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairments on revalued assets, except those caused by a clear consumption of economic benefit, are recognised directly within equity until the carrying amount reaches depreciated historical cost. All other impairment losses are recognised in the profit and loss account. |
| Investment property |
| Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss. |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stock. Net realisable value is based on selling price less anticipated cost to complete and selling costs. |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Classification |
| The company holds the following financial instruments: |
| Short term debtors and creditors; |
| Bank loans; |
| Hire purchase arrangements; |
| Cash and bank balances; and |
| Preference shares. |
| All financial instruments are classified as basic. |
| Recognition and measurement |
| The company has elected to apply the provisions FRS102 to all of its financial instruments. |
| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled. |
| Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Leases are classified as hire purchase and finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. |
| Assets held under hire purchase contracts are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. |
| Hire purchase payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. |
| Defined contribution pension obligation |
| A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. |
| Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Fleet | Plant and | and |
| property | Units | machinery | fittings | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Cost or valuation at 31 March 2025 is represented by: |
| Fixtures |
| Freehold | Fleet | Plant and | and |
| property | Units | machinery | fittings | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2023 | 3,770,236 | - | - | - | 3,770,236 |
| Cost | 6,528,408 | 2,332,209 | 683,496 | 95,093 | 9,639,206 |
| 10,298,644 | 2,332,209 | 683,496 | 95,093 | 13,409,442 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 6,528,406 | 6,473,526 |
| Aggregate depreciation | 232,558 | 214,173 |
| Freehold property was valued on an open market basis on 30 November 2022 by Sanderson Weatherall . |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| Disposals | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2025 | 13,934 |
| Cost | 16,066 |
| 30,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 16,066 | 866,972 |
| Aggregate depreciation | - | 103,620 |
| Investment property was valued on an open market basis on 31 March 2025 by the Directors . |
| 7. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 11) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 11) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 534,992 | 879,836 |
| Hire purchase | 1,292 | 30,261 |
| 536,284 | 910,097 |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| In more than five years |
| Acorn Parks Limited (Registered number: 04341391) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| Hire purchase contracts | 638,670 | 834,301 |
| Bank loans and overdrafts are secured by a debenture which comprises of fixed and floating charges over all the assets and undertakings of the company. This includes all present and future; freehold and leasehold property, debts, chattels, goodwill and uncalled capital. |
| Hire purchase agreements are secured on the assets to which they relate. |
| 13. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2024 |
| Provision for deferred tax | (22,031 | ) |
| At 31 March 2025 |
| 14. | RELATED PARTY DISCLOSURES |
| Oak Tree Parks Limited |
| (A company under common control) |
| Oak Tree Parks Limited has provided a secured debenture guarantee to HSBC in relation to borrowings in Acorn Parks Limited. The debenture, comprising fixed and floating charges over all assets and undertakings of Oak Tree Parks Limited, including all present and future freehold and leasehold property, debts, chattels, goodwill and uncalled capital, is limited to £500,000. |
| Oak Tree Parks Limited has also provided a loan account to Acorn Parks Limited which is unsecured, interest free and there are no set repayment terms. The amount due to Oak Tree Parks Limited at the year end was £738,271 (2024: £1,189,086). |