Registration number:
Period from 1 March 2017 to
Cayton Village Caravan Park Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Cayton Village Caravan Park Limited
Company Information
Directors |
N D J Lomas B Savage M W Pearson |
Registered office |
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Page 1 |
Cayton Village Caravan Park Limited
(Registration number: 03686213)
Balance Sheet as at 7 February 2018
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7 February |
28 February |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 7 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Page 2 |
Cayton Village Caravan Park Limited
(Registration number: 03686213)
Balance Sheet as at 7 February 2018
Approved and authorised by the
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M W Pearson
Director
Page 3 |
Cayton Village Caravan Park Limited
Notes to the Financial Statements
Period from 1 March 2017 to 7 February 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities being that of a caravan park. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 4 |
Cayton Village Caravan Park Limited
Notes to the Financial Statements
Period from 1 March 2017 to 7 February 2018
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
2% on cost |
Plant and machinery |
25% on reducing balance |
Computer equipment |
20% on reducing balance |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measure at cost less any accumulate amortisation and any accumulated impairment losses.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 5 |
Cayton Village Caravan Park Limited
Notes to the Financial Statements
Period from 1 March 2017 to 7 February 2018
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Staff numbers |
The average number of persons employed by the company during the period was
Profit before tax |
Arrived at after charging/(crediting)
Period ended |
Year ended |
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Depreciation expense |
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Amortisation expense |
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Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 March 2017 |
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At 7 February 2018 |
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Amortisation |
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At 1 March 2017 |
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Amortisation charge |
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At 7 February 2018 |
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Carrying amount |
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At 7 February 2018 |
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At 28 February 2017 |
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Page 6 |
Cayton Village Caravan Park Limited
Notes to the Financial Statements
Period from 1 March 2017 to 7 February 2018
Tangible assets |
Land and buildings |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 March 2017 |
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Additions |
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At 7 February 2018 |
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Depreciation |
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At 1 March 2017 |
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Charge for the period |
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At 7 February 2018 |
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Carrying amount |
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At 7 February 2018 |
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At 28 February 2017 |
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Included within the net book value of land and buildings above is £415,000 (2017 - £415,000)
in respect of freehold land and buildings.
Debtors |
7 February |
28 February |
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Directors' loans |
169,358 |
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Amounts due from related parties |
226,083 |
72,100 |
Prepayments |
3,953 |
5,083 |
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Page 7 |
Cayton Village Caravan Park Limited
Notes to the Financial Statements
Period from 1 March 2017 to 7 February 2018
Creditors |
7 February |
28 February |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Related party transactions |
Summary of transactions with other related parties
Non adjusting events after the financial period |
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Page 8 |