ACCOUNTS - Final Accounts

CARAVAN ACCESSORY SHOP LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-3062021-07-01falseNo description of principal activity6falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 7337183 2021-07-01 2022-06-30 7337183 2020-07-01 2021-06-30 7337183 2022-06-30 7337183 2021-06-30 7337183 c:Director1 2021-07-01 2022-06-30 7337183 d:FurnitureFittings 2021-07-01 2022-06-30 7337183 d:FurnitureFittings 2022-06-30 7337183 d:FurnitureFittings 2021-06-30 7337183 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 7337183 d:Goodwill 2021-07-01 2022-06-30 7337183 d:Goodwill 2022-06-30 7337183 d:Goodwill 2021-06-30 7337183 d:CurrentFinancialInstruments 2022-06-30 7337183 d:CurrentFinancialInstruments 2021-06-30 7337183 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 7337183 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 7337183 d:ShareCapital 2022-06-30 7337183 d:ShareCapital 2021-06-30 7337183 d:RetainedEarningsAccumulatedLosses 2022-06-30 7337183 d:RetainedEarningsAccumulatedLosses 2021-06-30 7337183 c:FRS102 2021-07-01 2022-06-30 7337183 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 7337183 c:FullAccounts 2021-07-01 2022-06-30 7337183 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

CARAVAN ACCESSORY SHOP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Registered number: 7337183


CARAVAN ACCESSORY SHOP LIMITED REGISTERED NUMBER:7337183

BALANCE SHEET

AS AT 30 JUNE 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	5		7,552		10,070
Current assets
Stocks		304,790		176,182
Debtors: amounts falling due within one year	6	5,082		636
Cash at bank and in hand		81,237		201,281
		391,109		378,099
Creditors: amounts falling due within one year	7	(128,532)		(117,788)
Net current assets			262,577		260,311
Total assets less current liabilities			270,129		270,381
Provisions for liabilities
Deferred tax			(1,435)		(1,913)
Net assets			268,694		268,468

Capital and reserves
Called up share capital	100	100
Profit and loss account	268,594	268,368
	268,694	268,468

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 the 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 statement of comprehensive income 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 on 23 June 2023.

C Ashwell

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


CARAVAN ACCESSORY SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1.	General information

Caravan Accessory Shop Limited is a private company limited by shares, incorporated in England and Wales. The company's principal place of business is 42 Cromer Road, West Runton, Norfolk, NR27 9AD.

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 following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises the invoiced value of caravan and camping accessory goods sold during the year, excluding Value Added Tax. The company's policy is to recognise turnover at the time of sale when substantively all the risks and rewards in connection with the goods have been passed to the customer.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.

The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.

The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.

Page 2


CARAVAN ACCESSORY SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.6

Intangible assets

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life of ten years.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their estimated useful lives. A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment

25% Reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value.

2.9

Debtors

Debtors are measured at transaction price, less any impairment for bad or doubtful debts.

2.10

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.

2.11

Creditors

Creditors are measured at the transaction price.

Page 3


CARAVAN ACCESSORY SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.12

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 Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet 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 Balance Sheet.

2.13

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, and loans from third parties.

2.14

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.

Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 6).

Page 4


CARAVAN ACCESSORY SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 July 2021	100,000
	At 30 June 2022	100,000
	Amortisation
	At 1 July 2021	100,000
	At 30 June 2022	100,000
	Net book value
	At 30 June 2022	-
	At 30 June 2021	-

5.	Tangible fixed assets

		Fixtures, fittings & equipment
		£
	Cost
	At 1 July 2021	33,189
	At 30 June 2022	33,189
	Depreciation
	At 1 July 2021	23,119
	Charge for the year on owned assets	2,518
	At 30 June 2022	25,637
	Net book value
	At 30 June 2022	7,552
	At 30 June 2021	10,070

Page 5


CARAVAN ACCESSORY SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Debtors

					2022	2021
					£	£


Other debtors	2,523	-
Prepayments and accrued income	2,559	636
	5,082	636

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	73,177	68,791
Corporation tax	26,402	6,014
Other taxation and social security	546	10,261
Other creditors	23,126	26,868
Accruals and deferred income	5,281	5,854
	128,532	117,788

8.	Related party transactions
	During the year the company occupied premises owned by the directors. No formal lease agreement exists between the parties. Rent paid during the year amounted to £13,000.

Page 6