Hardwick Parks Limited - Period Ending 2016-01-31

 
 
 
 
 
 
 
  Hardwick Parks Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 January 2016
 
  Company Registration Number: 01471222

Hardwick Parks Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Hardwick Parks Limited
Abbreviated Balance Sheet
31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			563,859			542,297
Current assets
Stocks					66,741			20,305
Debtors					521,781			484,057
Cash at bank and in hand					428,365			282,646
					1,016,887			787,008
Creditors: Amounts falling due within one year					(217,231)			(143,993)
Net current assets					799,656			643,015
Total assets less current liabilities					1,363,515			1,185,312
Provisions for liabilities					(44,000)			(19,000)
Net assets					1,319,515			1,166,312
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					1,318,515			1,165,312
Shareholders' funds					1,319,515			1,166,312

For the year ending 31 January 2016 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.

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

Approved by the Board on 21 March 2016 and signed on its behalf by:

Mr L M P Hutchings
 Company secretary and director

Company Registration Number: 01471222

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Hardwick Parks Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015) "FRSSE".

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts as follows: Site Rents/Bookings/Pitch fees - Income is recognised over the rental period. Caravan sales - Income is recognised when significant risks and rewards have transferred which is typically when the caravan is delivered to the customer. Sundry turnover - All other income is recognised when goods or services have been supplied.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Long leasehold land & buildings	5% reducing balance
Motor vehicles	20% reducing balance
Plant, machinery & equipment	20% reducing balance
Clubhouse	2% straight line
Office equipment	20% reducing balance
Freehold land	no depreciation is charged

Stock

Stocks are valued at the lower of cost and net realisable value. Cost typically represents the purchase price. Net realisable value represents the estimated selling price, in the ordinary course of business, less the estimated costs to sell.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Hire purchase and leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Page 2

Hardwick Parks Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		1,089,688			1,089,688
Additions		80,416			80,416
Disposals		(33,585)			(33,585)
At 31 January 2016		1,136,519			1,136,519
Depreciation
At 1 February 2015		547,391			547,391
Charge for the year		41,765			41,765
Eliminated on disposals		(16,496)			(16,496)
At 31 January 2016		572,660			572,660
Net book value
At 31 January 2016		563,859			563,859
At 31 January 2015		542,297			542,297

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		249			249			249			249
Preference shares of £1 each		751			751			751			751
		1,000			1,000			1,000			1,000

Preference shares

The preference shares are irredeemable and carry no voting rights. On a winding up of the company the holders of the shares have a right to receive 1% of the total assets of the company in excess of £1,000,000.

4

Control

The company is controlled by Ayersmont Limited, it's immediate and ultimate parent company, which is registered in England and Wales.

Page 3