Willowbank Holiday Park Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03589095 (England and Wales)

Financial Statements for the Year Ended 30 November 2020

for

Willowbank Holiday Park Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Darling

Mrs J A Darling

R S Darling

SECRETARY:

Mrs J A Darling

REGISTERED OFFICE:

Ash House

Catterick Bridge

Richmond

NORTH YORKSHIRE

REGISTERED NUMBER:

03589095 (England and Wales)

ACCOUNTANTS:

Yorkshire Accountants Ripon

Eva Lett House

1 South Crescent

Ripon

North Yorkshire

HG4 1SN

FIXED ASSETS

Intangible assets

4

300,000

400,000

Tangible assets

5

2,698,984

2,724,044

2,998,984

3,124,044

CURRENT ASSETS

Stocks

57,000

54,204

Debtors

6

190,309

255,630

Cash at bank

282,254

236,204

529,563

546,038

CREDITORS

Amounts falling due within one year

7

387,491

394,817

NET CURRENT ASSETS

142,072

151,221

TOTAL ASSETS LESS CURRENT LIABILITIES

3,141,056

3,275,265

CREDITORS

Amounts falling due after more than one year

8

(348,599

)

(503,351

)

PROVISIONS FOR LIABILITIES

(5,860

)

(8,157

)

NET ASSETS

2,786,597

2,763,757

CAPITAL AND RESERVES

Called up share capital

500,000

500,000

Retained earnings

2,286,597

2,263,757

SHAREHOLDERS' FUNDS

2,786,597

2,763,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 16 July 2021 and were signed on its behalf by:

R H Darling - Director

1.	STATUTORY INFORMATION

Willowbank Holiday Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, 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 measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property

-

2% on cost

Plant and Machinery

-

15% on reducing balance

Motor Vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

2,000,000

AMORTISATION

At 1 December 2019

1,600,000

Charge for year

100,000

At 30 November 2020

1,700,000

NET BOOK VALUE

At 30 November 2020

300,000

At 30 November 2019

400,000

5.	TANGIBLE FIXED ASSETS

Freehold

Wardens

Plant and

Motor

Property

Accommodation

Machinery

Vehicles

Totals

£

£

£

£

£

COST

At 1 December 2019

and 30 November 2020

2,777,942

22,382

213,845

94,449

3,108,618

DEPRECIATION

At 1 December 2019

157,036

3,917

148,722

74,899

384,574

Charge for year

10,404

-

9,768

4,888

25,060

At 30 November 2020

167,440

3,917

158,490

79,787

409,634

NET BOOK VALUE

At 30 November 2020

2,610,502

18,465

55,355

14,662

2,698,984

At 30 November 2019

2,620,906

18,465

65,123

19,550

2,724,044

Included in cost of land and buildings is freehold land of £ 2,101,777 (2019 - £ 2,101,777 ) which is not depreciated.

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade Debtors

29,216

18,955

Prepayments and Accrued Income

11,093

6,675

40,309

25,630

Amounts falling due after more than one year:

Other debtors

150,000

230,000

Aggregate amounts

190,309

255,630

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

147,387

144,882

Trade Creditors

53,702

74,272

Taxation

30,252

27,870

Other Taxes and PAYE

10,211

4,760

Accruals and Deferred Income

90,517

97,537

Directors' current accounts

55,422

45,496

387,491

394,817

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank Loans - 2-5 Years

348,599

503,351

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

495,986

648,233

The National Westminster Bank hold a floating charge over all the assets of the company and first mortgage over Willowbank Caravan Park and all other fixed assets of the company.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the Darling family being the directors RH, JA and RS Darling.