TRANQUILITY PARKS LIMITED

TRANQUILITY PARKS LIMITED

TRANQUILITY PARKS LIMITED - Company Information

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TRANQUILITY PARKS LIMITED

Company Registration Number:
07652841 (England and Wales)

Unaudited abridged accounts for the year ended 30 March 2021

Period of accounts

Start date: 01 April 2020

End date: 30 March 2021

TRANQUILITY PARKS LIMITED

Contents of the Financial Statements

for the Period Ended 30 March 2021

Balance sheet
Notes

TRANQUILITY PARKS LIMITED

Balance sheet

As at 30 March 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 14,229,238 14,002,404
Investments: 4 100 100
Total fixed assets: 14,229,338 14,002,504
Current assets
Stocks: 327,336 521,568
Debtors:   1,156,637 909,495
Cash at bank and in hand: 11 282,631
Total current assets: 1,483,984 1,713,694
Creditors: amounts falling due within one year:   (3,543,721) (3,529,128)
Net current assets (liabilities): (2,059,737) (1,815,434)
Total assets less current liabilities: 12,169,601 12,187,070
Creditors: amounts falling due after more than one year:   (1,983,311) (1,987,023)
Provision for liabilities: (1,790,428) (1,680,720)
Total net assets (liabilities): 8,395,862 8,519,327
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:57,055,4687,165,176
Profit and loss account: 1,340,294 1,354,051
Shareholders funds: 8,395,862 8,519,327

The notes form part of these financial statements

TRANQUILITY PARKS LIMITED

Balance sheet statements

For the year ending 30 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 March 2022
and signed on behalf of the board by:

Name: Alfred William Best
Status: Director

The notes form part of these financial statements

TRANQUILITY PARKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised by the Company to the extent that it obtains the right to consideration in exchange for itsperformance. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts,rebates, Value Added Tax and other sales taxes. Monies received in advance are treated as deferred income andheld as payments on accountPitch and Site Fees:Pitch and fees are recognised on an accruals basis in the period to which they relate.Sales of Lodges and Mobile Homes:Sales of lodges and mobile homes are recognised when the risks and rewards of ownership are transferred to thecustomer, usually on occupation when the park home agreement is signed or legal completion takes place

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and anyaccumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset tothe location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful livesDepreciation is provided on the following basis:Freehold property & site improvements Not depreciatedPlant and machinery 15% reducing balanceFixtures, fittings, tools and equipment 20% straight lineOffice equipment 25% straight line

Valuation and information policy

STOCKS AND WORK IN PROGRESS:Stocks and work in progress are stated at the lower of cost and net realisable value, being the estimated selling priceless costs to complete and sell.At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss

TRANQUILITY PARKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2021

2. Employees

2021 2020
Average number of employees during the period 3 3

TRANQUILITY PARKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2021

3. Tangible Assets

Total
Cost £
At 01 April 2020 14,009,771
Additions 365,802
Disposals (113,057)
At 30 March 2021 14,262,516
Depreciation
At 01 April 2020 7,367
Charge for year 40,068
On disposals (14,157)
At 30 March 2021 33,278
Net book value
At 30 March 2021 14,229,238
At 31 March 2020 14,002,404

TRANQUILITY PARKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2021

4. Fixed investments

FIXED ASSET INVESTMENTS:COST OR VALUATION £100At 31 March 2021 £100

TRANQUILITY PARKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2021

5. Revaluation reserve

2021
£
Balance at 01 April 2020 7,165,176
Surplus or deficit after revaluation (109,708)
Balance at 30 March 2021 7,055,468