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Registration number: 11247619

Clavell Caravans Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Clavell Caravans Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Clavell Caravans Limited

Company Information

Directors

J F C Harneiss

Mr J Wadner

Company secretary

J F C Harneiss

Registered office

Lowgate House
Lowgate Road
Conisholme
Louth
Lincolnshire
LN11 7LX

 

Clavell Caravans Limited

(Registration number: 11247619)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

17,284

22,559

Current assets

 

Stocks

5

244,920

98,145

Debtors

6

261,833

103,372

Cash at bank and in hand

 

1,098,152

1,175,491

 

1,604,905

1,377,008

Creditors: Amounts falling due within one year

7

(279,841)

(269,136)

Net current assets

 

1,325,064

1,107,872

Total assets less current liabilities

 

1,342,348

1,130,431

Creditors: Amounts falling due after more than one year

7

(276,740)

(325,688)

Provisions for liabilities

(2,977)

(3,041)

Net assets

 

1,062,631

801,702

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,062,531

801,602

Shareholders' funds

 

1,062,631

801,702

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 August 2022 and signed on its behalf by:
 

.........................................
J F C Harneiss
Company secretary and director

 

Clavell Caravans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11247619.

These financial statements cover the individual entity Clavell Caravans Limited.

The address of its registered office is:
Lowgate House
Lowgate Road
Conisholme
Louth
Lincolnshire
LN11 7LX
England

These financial statements were authorised for issue by the Board on 4 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going Concern
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Clavell Caravans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Clavell Caravans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2021 - 4).

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

29,650

16,250

45,900

At 31 March 2022

29,650

16,250

45,900

Depreciation

At 1 April 2021

15,761

7,580

23,341

Charge for the year

3,107

2,168

5,275

At 31 March 2022

18,868

9,748

28,616

Carrying amount

At 31 March 2022

10,782

6,502

17,284

At 31 March 2021

13,889

8,670

22,559

5

Stocks

2022
£

2021
£

Other inventories

244,920

98,145

6

Debtors

Current

2022
£

2021
£

Trade debtors

251,621

95,243

Other debtors

10,212

8,129

 

261,833

103,372

 

Clavell Caravans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

64,247

50,113

Taxation and social security

 

72,619

92,713

Other creditors

 

82,909

91,936

Accruals and deferred income

 

60,066

34,374

 

279,841

269,136

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

276,740

325,688

2022
£

2021
£

Due after more than five years

After more than five years by instalments

65,608

121,274

-

-

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A shares of £1 each

48

48

48

48

Ordinary B shares of £1 each

52

52

52

52

 

100

100

100

100

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

276,740

325,688

2022
£

2021
£

Current loans and borrowings

Other borrowings

33,579

44,547