Hitchin Caravans Ltd - Accounts to registrar (filleted) - small 18.2
Hitchin Caravans Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| FOR |
| HITCHIN CARAVANS LTD |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HITCHIN CARAVANS LTD |
| COMPANY INFORMATION |
| for the year ended 31 March 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1110 Elliott Court |
| Coventry Business Park |
| Herald Avenue |
| Coventry |
| West Midlands |
| CV5 6UB |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| BALANCE SHEET |
| 31 March 2019 |
| 2019 | 2018 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| BALANCE SHEET - continued |
| 31 March 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| Hitchin Caravans Ltd is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The company is not subject to any significant judgements or estimates. |
| Turnover |
| Turnover is measured at the fair value of the consideration receivable net of VAT and trade discounts. |
| The polices adopted for the recognition of turnover are as follows:- |
| Sales of Goods |
| Turnover from the sale of caravans, motorhomes and accessories is recognised when significant risks |
| and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be |
| measured reliably, it is probable that the economic benefits associated with the transaction will flow to |
| the company and the cost incurred or to be incurred in respect of the transaction can be measured |
| reliably. This is usually on dispatch of the goods. |
| Interest, commission and rent received |
| Interest income is recognised using the effective interest method. Commission and rent receivable is |
| recognised as the company's right to receive payment is established. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment |
| losses. Cost includes cost directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less |
| estimated residual value, of each assets on a systematic basis over its expected useful life as follows:- |
| Portable buildings | 5 years straight line |
| Plant and machinery | 15% reducing balance |
| Fixtures and Fittings | 15% reducing balance |
| Motor vehicles | 15% reducing balance |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost |
| includes all cost of purchase, cost of conversion and other cost incurred in bringing stock to its present |
| location and condition. Cost is calculated using first-in, first-out formula. |
| Provision is made for damaged, obsolete and slow-moving stock where appropriate on all shop or |
| workshop stock. The cost of all caravan or motorhome stock is written back to reflect any damage or |
| obsolescence. |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| Basic financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| There is an interest free secured stocking plan facility which is under normal industry standard terms. |
| The company does not have any other basic financial instruments. |
| The company has issued preference shares which are valued at cost less impairment. The preference |
| share attract an 3% dividend. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Portable | Furniture | Motor |
| property | buildings | & fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2018 |
| Additions |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 5. | STOCKS |
| 2019 | 2018 |
| as |
| restated |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| as |
| restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| as |
| restated |
| £ | £ |
| Trade creditors |
| Sales deposits held | 161,596 | 41,778 |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 214,502 | 131,758 |
| Accrued expenses |
| HITCHIN CARAVANS LTD (REGISTERED NUMBER: 07862031) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| as |
| restated |
| £ | £ |
| Preference shares | 699,990 | 699,990 |
| 9. | FINANCIAL INSTRUMENTS |
| The company has £699,990 in £1 preference shares in issue. They are non redeemable and attract a |
| 3% dividend. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | as restated |
| £ | £ |
| Ordinary | £1 | 60 | 60 |
| A Ordinary | £1 | 20 | 20 |
| B Ordinary | £1 | 20 | 20 |
| 100 | 100 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £276,392 (2018 - £263,870) were paid to the directors . |