Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01falseCaravan transportation and sales00truetrue 05338045 2022-02-01 2023-01-31 05338045 2021-02-01 2022-01-31 05338045 2023-01-31 05338045 2022-01-31 05338045 c:Director1 2022-02-01 2023-01-31 05338045 d:PlantMachinery 2022-02-01 2023-01-31 05338045 d:PlantMachinery 2023-01-31 05338045 d:PlantMachinery 2022-01-31 05338045 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05338045 d:MotorVehicles 2022-02-01 2023-01-31 05338045 d:MotorVehicles 2023-01-31 05338045 d:MotorVehicles 2022-01-31 05338045 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05338045 d:FurnitureFittings 2022-02-01 2023-01-31 05338045 d:FurnitureFittings 2023-01-31 05338045 d:FurnitureFittings 2022-01-31 05338045 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05338045 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05338045 d:CurrentFinancialInstruments 2023-01-31 05338045 d:CurrentFinancialInstruments 2022-01-31 05338045 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05338045 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 05338045 d:ShareCapital 2023-01-31 05338045 d:ShareCapital 2022-01-31 05338045 d:RetainedEarningsAccumulatedLosses 2023-01-31 05338045 d:RetainedEarningsAccumulatedLosses 2022-01-31 05338045 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 05338045 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-01-31 05338045 c:FRS102 2022-02-01 2023-01-31 05338045 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 05338045 c:FullAccounts 2022-02-01 2023-01-31 05338045 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05338045 2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 05338045









WIGHT CARAVAN COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

 
WIGHT CARAVAN COMPANY LIMITED
REGISTERED NUMBER: 05338045

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,996
6,181

  
6,996
6,181

Current assets
  

Stocks
 5 
10,000
18,000

Debtors: amounts falling due within one year
 6 
3,753
2,347

Cash at bank and in hand
 7 
18,649
18,225

  
32,402
38,572

Creditors: amounts falling due within one year
 8 
(42,900)
(42,825)

Net current liabilities
  
 
 
(10,498)
 
 
(4,253)

Total assets less current liabilities
  
(3,502)
1,928

  

Net (liabilities)/assets
  
(3,502)
1,928


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(3,505)
1,925

  
(3,502)
1,928

Page 1

 
WIGHT CARAVAN COMPANY LIMITED
REGISTERED NUMBER: 05338045
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

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 income and retained earnings 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 20 October 2023.





................................................
Nick Punter
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
WIGHT CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The Company is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the sale and transportation of caravans.

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

Going concern

The accounts are produced on a going concern basis. This assumes the ongoing support of the directors, which they have pledged for the foreseeable future.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
WIGHT CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
WIGHT CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 5

 
WIGHT CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2022
11,284
61,795
1,671
74,750


Additions
1,083
-
1,955
3,038



At 31 January 2023

12,367
61,795
3,626
77,788



Depreciation


At 1 February 2022
10,755
56,365
1,449
68,569


Charge for the year on owned assets
322
1,357
544
2,223



At 31 January 2023

11,077
57,722
1,993
70,792



Net book value



At 31 January 2023
1,290
4,073
1,633
6,996



At 31 January 2022
529
5,430
222
6,181


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
10,000
18,000

10,000
18,000



6.


Debtors

2023
2022
£
£


Other debtors
2,382
745

Prepayments and accrued income
1,371
1,602

3,753
2,347


Page 6

 
WIGHT CARAVAN COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,649
18,225

18,649
18,225



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associated companies
200
200

Corporation tax
-
1,858

Other creditors
42,415
40,517

Accruals and deferred income
285
250

42,900
42,825



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
18,649
18,225




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Related party transactions

During the year, Appuldurcombe Garden Holiday Park Ltd, a company in which the directors, Cherry and Kevin Sanders are also directors and shareholders, made a payment on behalf of the Company of £nil (2022 - £200).  This amount was outstanding at the year end.


11.


Controlling party

There is no overall controlling party.

 
Page 7