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 2018

FOR

HILLANDALE CARAVAN FINANCE LIMITED

PREVIOUSLY KNOWN AS

D. & D. LLOYD JONES SECURITIES 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

FIXED ASSETS

Intangible assets

4

-

20,000

Tangible assets

5

-

1,285,553

-

1,305,553

CURRENT ASSETS

Stocks

-

718,302

Debtors

6

2,214,103

1,384,160

Cash at bank and in hand

77,013

4,426,146

2,291,116

6,528,608

CREDITORS

Amounts falling due within one year

7

134,116

2,054,571

NET CURRENT ASSETS

2,157,000

4,474,037

TOTAL ASSETS LESS CURRENT LIABILITIES

2,157,000

5,779,590

PROVISIONS FOR LIABILITIES

-

4,838

NET ASSETS

2,157,000

5,774,752

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

2,132,000

5,749,752

SHAREHOLDERS' FUNDS

2,157,000

5,774,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 15 November 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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. The director has

a reasonable expectation that the company has adequate resources to continue in

operational existence for the foreseeable future. All 5 of the trading parks were transferred to

Lickhill Manor Limited following the aquisition of Hillandale Caravan Finance Limited on 30

May 2017 leaving the Caravan Finance business as the sole trade.

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.

Turnover regarding sales of holiday homes is recognised upon the signing of ownership

contracts between the company and the customer. Interest income on the supply of

associated 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.

Turnover regarding holiday home fees are recognised over the term of pitch licence

agreement.

Turnover for touring fees is recognised upon the specific date services are provided.

Recharges of holiday home related costs and miscellaneous income are recognised at the

date the services or goods are supplied.

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.

Development costs are not amortised but assessed annually for any impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on cost

Plant and machinery

-

25% on cost

Vehicles and equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

20,000

Disposals

(20,000

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

20,000

5.	TANGIBLE FIXED ASSETS

Vehicles

Freehold

Plant and

and

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2017

1,268,269

1,114,888

156,590

2,539,747

Additions

-

40,317

-

40,317

Disposals

(1,268,269

)

(1,155,205

)

(156,590

)

(2,580,064

)

At 31 March 2018

-

-

-

-

DEPRECIATION

At 1 April 2017

76,500

1,054,103

123,591

1,254,194

Charge for year

750

4,256

1,752

6,758

Eliminated on disposal

(77,250

)

(1,058,359

)

(125,343

)

(1,260,952

)

At 31 March 2018

-

-

-

-

NET BOOK VALUE

At 31 March 2018

-

-

-

-

At 31 March 2017

1,191,769

60,785

32,999

1,285,553

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

-

206,865

Amounts owed by group undertakings

1,055,808

-

Amounts owed by associates

-

16,450

Amounts receivable in respect of hire purchase contracts

499,077

496,860

Other debtors

11,274

71,323

1,566,159

791,498

Amounts falling due after more than one year:

Amounts receivable in respect of hire purchase contracts

647,944

592,662

Aggregate amounts

2,214,103

1,384,160

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Payments on account

-

1,022,554

Trade creditors

3,511

790,127

Corporation tax

127,406

159,147

Social security and other taxes

-

7,438

Other creditors

-

25,100

Accrued expenses

3,199

50,205

134,116

2,054,571

8.	ULTIMATE CONTROLLING PARTY

From the 30 May 2017 the ultimate controlling party is Denis Lloyd Jones by virtue of his

shareholding in the immediate parent undertaking, Lickhill Manor Limited, who acquired

100% of the shares in the company on this date.