Company Registration No. 06864331 (England and Wales)
YORKSHIRE DALES COUNTRY PARK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
YORKSHIRE DALES COUNTRY PARK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
YORKSHIRE DALES COUNTRY PARK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
9,476,968
2,527,080
Current assets
Stocks
-
103,906
Debtors
-
124,701
Cash at bank and in hand
-
10,361
-
238,968
Creditors: amounts falling due within one year
(1,178,668)
(2,246,164)
Net current liabilities
(1,178,668)
(2,007,196)
Total assets less current liabilities
8,298,300
519,884
Capital and reserves
Called up share capital
3
1
1
Revaluation reserve
6,888,977
-
Profit and loss account
1,409,322
519,883
Shareholders' funds
8,298,300
519,884
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 March 2017
J Crickmore
Director
Company Registration No. 06864331
YORKSHIRE DALES COUNTRY PARK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover comprises revenue recognised by the company in respect of the sale of mobile homes, rental of pitches to mobile home owners and short term lettings. Turnover from rental income for pitch fees and lets are recognised evenly over the rental period to which they relate. Turnover from the sale of mobile homes is 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.comprises revenue recognised by the company in respect of the sale of mobile homes, rental of pitches to mobile home owners and short term lettings.
Turnover from rental income for pitch fees and lets are recognised evenly over the rental period to which they relate.
Turnover from the sale of mobile homes is 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.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Freehold buildings
2% straight line
Plant and machinery
25% straight line
No depreciation is provided in respect of freehold land.
1.5
Stock
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Stock comprises the cost of pitches developed for sitings.
Stock comprises the cost of pitches developed for sitings.
YORKSHIRE DALES COUNTRY PARK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015
2,533,747
Additions
83,776
Revaluation
6,888,977
At 31 March 2016
9,506,500
Depreciation
At 1 April 2015
6,667
Charge for the year
22,865
At 31 March 2016
29,532
Net book value
At 31 March 2016
9,476,968
At 31 March 2015
2,527,080
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary Share of £1 each
1
1
4
Ultimate parent company
Prior to the sale of the company the related company debts were restructured and this resulted in a write back of £894,582 to profits.true
Following the purchase of the company the new owners transferred the trade to Leisure Parks Estates LLP, an LLP connected to the new owners.
At the the balance sheet date an amount of £1,174,249 was due to Leisure Park Real Estates (Holdings) Limited.
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