ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.181 2016.0.1812018-09-302018-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueThe principal activity of the company continues to be that of the running of a caravan park and the sale of new and used caravans.false2017-10-01008344362017-10-012018-09-30008344362016-10-012017-09-30008344362018-09-30008344362017-09-3000834436 c:Director1 2017-10-012018-09-3000834436 c:Director2 2017-10-012018-09-3000834436 d:Buildings 2017-10-012018-09-3000834436 d:Buildings 2018-09-3000834436 d:Buildings 2017-09-3000834436 d:Buildings d:OwnedOrFreeholdAssets 2017-10-012018-09-3000834436 d:PlantMachinery 2017-10-012018-09-3000834436 d:PlantMachinery 2018-09-3000834436 d:PlantMachinery 2017-09-3000834436 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-10-012018-09-3000834436 d:MotorVehicles 2017-10-012018-09-3000834436 d:MotorVehicles 2018-09-3000834436 d:MotorVehicles 2017-09-3000834436 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-10-012018-09-3000834436 d:FurnitureFittings 2017-10-012018-09-3000834436 d:FurnitureFittings 2018-09-3000834436 d:FurnitureFittings 2017-09-3000834436 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-10-012018-09-3000834436 d:OwnedOrFreeholdAssets 2017-10-012018-09-3000834436 d:CurrentFinancialInstruments 2018-09-3000834436 d:CurrentFinancialInstruments 2017-09-3000834436 d:CurrentFinancialInstruments d:WithinOneYear 2018-09-3000834436 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-3000834436 d:ShareCapital 2018-09-3000834436 d:ShareCapital 2017-09-3000834436 d:RetainedEarningsAccumulatedLosses 2018-09-3000834436 d:RetainedEarningsAccumulatedLosses 2017-09-3000834436 c:FRS102 2017-10-012018-09-3000834436 c:AuditExempt-NoAccountantsReport 2017-10-012018-09-3000834436 c:FullAccounts 2017-10-012018-09-3000834436 c:PrivateLimitedCompanyLtd 2017-10-012018-09-30iso4217: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 2018

 
SANDY GULLS CARAVAN PARK LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 7


 
SANDY GULLS CARAVAN PARK LIMITED
REGISTERED NUMBER: 00834436

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
180,453
192,912

  
180,453
192,912

Current assets
  

Stocks
  
19,029
72,092

Debtors: amounts falling due within one year
 5 
4,311
4,414

Cash at bank and in hand
  
310,038
176,127

  
333,378
252,633

Creditors: amounts falling due within one year
 6 
(225,698)
(195,013)

Net current assets
  
 
 
107,680
 
 
57,620

Total assets less current liabilities
  
288,133
250,532

Provisions for liabilities
  

Deferred tax
  
(11,232)
(12,474)

  
 
 
(11,232)
 
 
(12,474)

Net assets
  
276,901
238,058


Capital and reserves
  

Called up share capital 
  
3,110
3,110

Profit and loss account
  
273,791
234,948

  
276,901
238,058


Page 1

 
SANDY GULLS CARAVAN PARK LIMITED
REGISTERED NUMBER: 00834436
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2018

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: 16 January 2019

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

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

Revenue

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 2018

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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.

Page 4

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument 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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 3).

Page 5

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

4.


Tangible fixed assets





Freehold property
Caravans
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 October 2017
70,133
43,575
97,079
84,585
295,372


Additions
-
25,368
2,428
7,353
35,149


Disposals
-
(22,234)
-
(583)
(22,817)



At 30 September 2018

70,133
46,709
99,507
91,355
307,704



Depreciation


At 1 October 2017
5,732
10,090
28,445
58,193
102,460


Charge for the year on owned assets
744
4,265
17,766
8,384
31,159


Disposals
-
(6,030)
-
(338)
(6,368)



At 30 September 2018

6,476
8,325
46,211
66,239
127,251



Net book value



At 30 September 2018
63,657
38,384
53,296
25,116
180,453



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

Included in land and buildings is freehold land of £32,980 (2017 - £32,980), which is not depreciated.


5.


Debtors

2018
2017
£
£


Prepayments and accrued income
4,311
4,414

4,311
4,414


Page 6

 
SANDY GULLS CARAVAN PARK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Payments received on account
124,111
123,880

Trade creditors
25,113
480

Corporation tax
28,415
25,751

Other taxation and social security
13,403
15,995

Other creditors
23,256
20,133

Accruals and deferred income
11,400
8,774

225,698
195,013


 
Page 7