Newport Caravans Limited - Accounts to registrar (filleted) - small 18.1
Newport Caravans Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Newport Caravans Limited |
| Audited Financial Statements for the Year Ended 30 November 2017 |
| Newport Caravans Limited (Registered number: 06651531) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2017 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Newport Caravans Limited |
| Company Information |
| for the Year Ended 30 November 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditor |
| 4 King Square |
| Bridgwater |
| Somerset |
| TA6 3YF |
| BANKERS: |
| 89 High Street |
| Weston-super-Mare |
| Somerset |
| BS23 1JW |
| Newport Caravans Limited (Registered number: 06651531) |
| Abridged Statement of Financial Position |
| 30 November 2017 |
| 30.11.17 | 30.11.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Newport Caravans Limited (Registered number: 06651531) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2017 |
| 1. | STATUTORY INFORMATION |
| Newport Caravans Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with applicable Accounting Standards and estimation |
| techniques. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Goodwill has now been fully amortised. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Newport Caravans Limited (Registered number: 06651531) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 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. |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 December 2016 |
| Additions |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| Newport Caravans Limited (Registered number: 06651531) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Totals |
| £ |
| COST |
| At 1 December 2016 | 117,355 |
| Additions | 20,662 |
| Transfer to ownership | (25,701 | ) |
| At 30 November 2017 | 112,316 |
| DEPRECIATION |
| At 1 December 2016 | 37,680 |
| Charge for year | 19,425 |
| Transfer to ownership | (11,678 | ) |
| At 30 November 2017 | 45,427 |
| NET BOOK VALUE |
| At 30 November 2017 | 66,889 |
| At 30 November 2016 | 79,675 |
| 5. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 30.11.17 | 30.11.16 |
| £ | £ |
| In more than five years |
| Newport Caravans Limited (Registered number: 06651531) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 40,753 | 61,142 |
| Stocking loans | 2,448,340 | 2,958,289 |
| Bank loans are secured by a charge over the assets of the company. |
| Amounts due under hire purchase contracts are secured over the specific financed assets. |
| Stocking loans are secured against the specific caravan stock financed. |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the year ended 30 November 2017 and the |
| period ended 30 November 2016: |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the directors. |