REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
SBS Leisure Homes Limited |
T/A |
Yorkshire Coast Caravans |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
SBS Leisure Homes Limited |
T/A |
Yorkshire Coast Caravans |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SBS Leisure Homes Limited |
T/A Yorkshire Coast Caravans |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Oak Tree House, Harwood Road |
Northminster Business Park |
Upper Poppleton |
York |
YO26 6QU |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 890,654 | 1,081,346 |
SHAREHOLDERS' FUNDS |
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. |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Balance Sheet - continued |
30 September 2023 |
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 and authorised for issue on |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
SBS Leisure Homes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax. |
Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered. |
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 |
Freehold land | - |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Vehicles for hire | - |
The company writes down vehicles for hire on a straight line basis to their estimated residual values at the end of their useful lives of 3 years. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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 the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
Additions |
At 30 September 2023 |
AMORTISATION |
Amortisation for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
land | property | machinery |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Vehicles |
vehicles | for hire | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Work-in-progress |
Finished goods |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Trade creditors |
Social security and other taxes |
Payments on account | 78,120 | 44,777 |
Directors' current accounts | 25,901 | 25,901 |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loan - 1-2 years | 46,000 | 46,000 |
Bank loans - 2-5 years | 34,501 | 80,500 |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The company has three bank loans: |
- Two of the bank loans relate to inventory financing and are repayable within 1 year. These loans are secured against the stock to which they relate. |
- The third bank loan of £230,000 is repayable over 6 years with a fixed interest rate of 3.8% over base rate. |
SBS Leisure Homes Limited (Registered number: 04607566) |
T/A Yorkshire Coast Caravans |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
12. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 15,251 | 15,520 |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Provided during year | ( |
) |
Balance at 30 September 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary 'A' | £1 | 45 | 45 |
Ordinary 'B' | £1 | 54 | 54 |
Ordinary 'C' | £1 | 10 | - |
109 | 99 |
10 Ordinary 'C' shares of £1 each were allotted as fully paid |
The shares shall rank pari passu in all respect save that they may participate in the distribution of varying dividends as declared by the company from time to time. |
14. | RELATED PARTY DISCLOSURES |
2023 | 2022 |
£ | £ |
Personnel of the entity: |
Amount due to director | 25,901 | 25,901 |
No interest has been charged. |