Hillandale Caravan Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00435452 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

HILLANDALE CARAVAN FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D G Lloyd Jones

REGISTERED OFFICE:

Lincomb Lock

Titton

Stourport on Severn

Worcestershire

DY13 9QR

REGISTERED NUMBER:

00435452 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Chartered Accountants

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

CURRENT ASSETS

Debtors

4

1,863,340

2,141,574

Cash at bank and in hand

51,761

54,459

1,915,101

2,196,033

CREDITORS

Amounts falling due within one year

5

666,452

14,299

NET CURRENT ASSETS

1,248,649

2,181,734

TOTAL ASSETS LESS CURRENT LIABILITIES

1,248,649

2,181,734

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

1,223,649

2,156,734

SHAREHOLDERS' FUNDS

1,248,649

2,181,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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 director and authorised for issue on 23 November 2020 and were signed by:

D G Lloyd Jones - Director

1.	STATUTORY INFORMATION

Hillandale Caravan Finance Limited is a private company, limited by shares , registered in England and Wales. The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company has cash resources and no requirement for external funding. Despite the closure of the Hillandale Caravan Parks from 23 March to 4 July 2020 due to the COVID-19 pandemic trade has picked up since reopening and profitability and cashflow are in line with the Directors' expectations. As a result the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Interest income on the provision of caravan finance given is recognised over the term of the hire purchase loan agreement. Where these loans are provided at an interest rate below market value, the value of the loan is reduced to fair value and the resulting interest recognised over the credit term within turnover.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment.

Hire purchase loans, which are basic financial Instruments, are initially recorded at the present value of future payments discounted at a market rate of interest for a similar loan. Subsequently, they are measured at amortised cost using the effective interest method. Hire purchase loans that are receivable within one year are not discounted.

Creditors

Short term creditors are measured at transaction price.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

There are no complex financial instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

8,778

-

Amounts owed by group undertakings

-

809,465

Amounts receivable in respect of hire purchase contracts

702,996

570,963

Other debtors

4,645

9,584

716,419

1,390,012

Amounts falling due after more than one year:

Amounts receivable in respect of hire purchase contracts

1,146,921

751,562

Aggregate amounts

1,863,340

2,141,574

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,282

7,178

Amounts owed to group undertakings

657,308

-

Corporation tax

5,862

5,121

Accrued expenses

2,000

2,000

666,452

14,299

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Denis Lloyd Jones by virtue of his shareholding in the immediate parent undertaking, Lickhill Manor Limited.