Company registration number 11074034 (England and Wales)
STANDOUT CAMPERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
PAGES FOR FILING WITH REGISTRAR
STANDOUT CAMPERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STANDOUT CAMPERS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2020
31 October 2020
- 1 -
2020
2019
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,574
1,361
Current assets
Stocks
59,000
104,200
Debtors
4
10,090
2,243
Cash at bank and in hand
13,380
15,315
82,470
121,758
Creditors: amounts falling due within one year
5
(152,948)
(145,660)
Net current liabilities
(70,478)
(23,902)
Total assets less current liabilities
(27,904)
(22,541)
Creditors: amounts falling due after more than one year
6
(105,909)
-
0
Net liabilities
(133,813)
(22,541)
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
(133,817)
(22,545)
Total equity
(133,813)
(22,541)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

STANDOUT CAMPERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2020
31 October 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 September 2022 and are signed on its behalf by:
Mr G J Webb
Director
Company Registration No. 11074034
STANDOUT CAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
- 3 -
1
Accounting policies
Company information

Standout Campers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old School House, 2 Brereton Close, West Buckland, Devon, EX32 0SG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company's business has been impacted by government measures in response to the Covid-19 pandemic, with turnover and profitability reduced during the 2 years ended 31 October 2021 compared to the preceding year. Financing was arranged via the Coronavirus Business Interruption Loan Scheme, which supported the company's trade. The directors are projecting an improvement in performance and the ability of the company to continue trading within existing financing facilities, which include loans from the directors themselves. On the basis of those projections, the directors have prepared the financial statements on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

STANDOUT CAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
1
Accounting policies
(Continued)
- 4 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2020
2019
Number
Number
Total
9
4
STANDOUT CAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2019
2,419
Additions
56,725
At 31 October 2020
59,144
Depreciation and impairment
At 1 November 2019
1,058
Depreciation charged in the year
15,512
At 31 October 2020
16,570
Carrying amount
At 31 October 2020
42,574
At 31 October 2019
1,361
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
685
2,243
Other debtors
9,405
-
0
10,090
2,243
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
19,062
-
0
Taxation and social security
30,566
9,405
Other creditors
103,320
136,255
152,948
145,660

Bank loans are secured over the company's assets.

 

Included in other creditors are hire purchase and finance lease balances of £11,121 which are secured on the assets concerned.

 

Finance lease obligations are guaranteed by the directors.

STANDOUT CAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 6 -
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
79,346
-
0
Other creditors
26,563
-
0
105,909
-
0

Bank loans are secured over the company's assets.

 

Included in other creditors are hire purchase and finance lease balances of £26,563 which are secured on the assets concerned.

 

Finance lease obligations are guaranteed by the directors.

7
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
4
4
8
Prior period adjustment

The closing stock figure in the 2019 financial statements was, on review, found to have been overstated by £64,000. The comparative balance sheet and profit and loss account balance have been restated to correct the overstatement resulting in a decrease in the stock and profit and loss reserve balance brought forward of £64,000.

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