ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.181 2016.0.1812017-09-302017-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetruefalse2016-10-01008344362016-10-012017-09-30008344362015-10-012016-09-30008344362017-09-30008344362016-09-3000834436 c:Director1 2016-10-012017-09-3000834436 c:Director2 2016-10-012017-09-3000834436 d:Buildings 2016-10-012017-09-3000834436 d:Buildings 2017-09-3000834436 d:Buildings 2016-09-3000834436 d:Buildings d:OwnedOrFreeholdAssets 2016-10-012017-09-3000834436 d:PlantMachinery 2016-10-012017-09-3000834436 d:PlantMachinery 2017-09-3000834436 d:PlantMachinery 2016-09-3000834436 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-10-012017-09-3000834436 d:MotorVehicles 2016-10-012017-09-3000834436 d:MotorVehicles 2017-09-3000834436 d:MotorVehicles 2016-09-3000834436 d:MotorVehicles d:OwnedOrFreeholdAssets 2016-10-012017-09-3000834436 d:FurnitureFittings 2016-10-012017-09-3000834436 d:FurnitureFittings 2017-09-3000834436 d:FurnitureFittings 2016-09-3000834436 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-10-012017-09-3000834436 d:OwnedOrFreeholdAssets 2016-10-012017-09-3000834436 d:CurrentFinancialInstruments 2017-09-3000834436 d:CurrentFinancialInstruments 2016-09-3000834436 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-3000834436 d:CurrentFinancialInstruments d:WithinOneYear 2016-09-3000834436 d:ShareCapital 2017-09-3000834436 d:ShareCapital 2016-09-3000834436 d:RetainedEarningsAccumulatedLosses 2017-09-3000834436 d:RetainedEarningsAccumulatedLosses 2016-09-3000834436 d:AcceleratedTaxDepreciationDeferredTax 2017-09-3000834436 c:FRS102 2016-10-012017-09-3000834436 c:AuditExempt-NoAccountantsReport 2016-10-012017-09-3000834436 c:FullAccounts 2016-10-012017-09-3000834436 c:PrivateLimitedCompanyLtd 2016-10-012017-09-30iso4217:GBPxbrli:pure

Registered number: 00834436










SANDY GULLS CARAVAN PARK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2017

 
SANDY GULLS CARAVAN PARK LIMITED
REGISTERED NUMBER: 00834436

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2017

2017
2016
Note
£
£

Fixed assets
  

Tangible assets
 4 
192,912
175,780

  
192,912
175,780

Current assets
  

Stocks
  
72,092
79,415

Debtors: amounts falling due within one year
 5 
4,414
18,017

Cash at bank and in hand
  
176,127
177,931

  
252,633
275,363

Creditors: amounts falling due within one year
 6 
(195,013)
(155,232)

Net current assets
  
 
 
57,620
 
 
120,131

Total assets less current liabilities
  
250,532
295,911

Provisions for liabilities
  

Deferred tax
 7 
(12,474)
(13,300)

  
 
 
(12,474)
 
 
(13,300)

Net assets
  
238,058
282,611


Capital and reserves
  

Called up share capital 
  
3,110
3,110

Profit and loss account
  
234,948
279,501

  
238,058
282,611


Page 1

 
SANDY GULLS CARAVAN PARK LIMITED
REGISTERED NUMBER: 00834436
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2017

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr R Shreeve
................................................
Mrs S M Hele
Director
Director


Date: 22 January 2018
The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

1.


General information

Sandy Gulls Caravan Park Limited is a private company limited by shares and incorporated in England and Wales, registration number 00834436. The registered office is Cromer Road, Mundesley, Norfolk, NR11 8DF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Caravans
-
10%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price. The impairment loss is recognised immediately in profit and loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.9

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the statement of financial position date and carried forward to future periods and is material. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the statement of financial position date.

 
2.10

Interest income

Interest income is recognised in the income statement using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the income statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the statement of financial position.

Page 5

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2016 - 3).

Page 6

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

4.


Tangible fixed assets





Freehold property
Caravans
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 October 2016
70,133
43,575
59,254
78,413
251,375


Additions
-
-
74,864
6,172
81,036


Disposals
-
-
(37,039)
-
(37,039)



At 30 September 2017

70,133
43,575
97,079
84,585
295,372



Depreciation


At 1 October 2016
4,988
6,370
14,852
49,385
75,595


Charge for the year on owned assets
744
3,720
22,878
8,808
36,150


Disposals
-
-
(9,285)
-
(9,285)



At 30 September 2017

5,732
10,090
28,445
58,193
102,460



Net book value



At 30 September 2017
64,401
33,485
68,634
26,392
192,912



At 30 September 2016
65,145
37,205
44,402
29,028
175,780

Included in land and buildings is freehold land of £32,980 (2016 - £32,980), which is not depreciated.


5.


Debtors

2017
2016
£
£


Other debtors
-
13,712

Prepayments and accrued income
4,414
4,305

4,414
18,017


Page 7

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017

6.


Creditors: Amounts falling due within one year

2017
2016
£
£

Payments received on account
123,880
116,447

Trade creditors
480
3,564

Corporation tax
25,751
26,286

Other taxation and social security
15,995
-

Other creditors
20,133
2,383

Accruals and deferred income
8,774
6,552

195,013
155,232



7.


Deferred taxation



2017


£






At beginning of year
(13,300)


Charged to profit or loss
826



At end of year
(12,474)

The provision for deferred taxation is made up as follows:

2017
£


Accelerated capital allowances
(12,474)

(12,474)


8.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 8