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REGISTERED NUMBER: 04607566 (England and Wales)













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: I M Fairey





SECRETARY: I M Fairey





REGISTERED OFFICE: Unit 3 Lancaster Road
Carnaby Industrial Estate
Bridlington
East Yorkshire
YO15 3QY





REGISTERED NUMBER: 04607566 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
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 4,312 -
Tangible assets 5 340,231 360,594
344,543 360,594

CURRENT ASSETS
Stocks 6 1,563,976 987,110
Debtors 7 51,068 57,733
Cash at bank and in hand 444,492 770,840
2,059,536 1,815,683
CREDITORS
Amounts falling due within one year 8 1,417,564 952,812
NET CURRENT ASSETS 641,972 862,871
TOTAL ASSETS LESS CURRENT
LIABILITIES

986,515

1,223,465

CREDITORS
Amounts falling due after more than one year 9 (80,501 ) (126,500 )

PROVISIONS FOR LIABILITIES 12 (15,251 ) (15,520 )
NET ASSETS 890,763 1,081,445

CAPITAL AND RESERVES
Called up share capital 13 109 99
Retained earnings 890,654 1,081,346
SHAREHOLDERS' FUNDS 890,763 1,081,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

SBS Leisure Homes Limited (Registered number: 04607566)
T/A Yorkshire Coast Caravans

Balance Sheet - continued
30 September 2023


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

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 15 November 2023 and were signed by:





I M Fairey - Director


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 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land - not provided
Improvements to property - 10% on cost
Plant and machinery - 33% on cost and 15% on cost
Motor vehicles - 25% on reducing balance
Vehicles for hire - 33% on cost

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 21 (2022 - 22 ) .

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 5,000
At 30 September 2023 5,000
AMORTISATION
Amortisation for year 688
At 30 September 2023 688
NET BOOK VALUE
At 30 September 2023 4,312

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
land property machinery
£    £    £   
COST
At 1 October 2022 140,882 57,889 54,652
Additions - 10,598 7,806
Disposals - - (6,925 )
At 30 September 2023 140,882 68,487 55,533
DEPRECIATION
At 1 October 2022 - 34,875 49,573
Charge for year - 4,916 3,825
Eliminated on disposal - - (6,925 )
At 30 September 2023 - 39,791 46,473
NET BOOK VALUE
At 30 September 2023 140,882 28,696 9,060
At 30 September 2022 140,882 23,014 5,079

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 105,405 146,576 505,404
Additions - 44,901 63,305
Disposals - (68,339 ) (75,264 )
At 30 September 2023 105,405 123,138 493,445
DEPRECIATION
At 1 October 2022 42,717 17,645 144,810
Charge for year 15,673 8,663 33,077
Eliminated on disposal - (17,748 ) (24,673 )
At 30 September 2023 58,390 8,560 153,214
NET BOOK VALUE
At 30 September 2023 47,015 114,578 340,231
At 30 September 2022 62,688 128,931 360,594

6. STOCKS
2023 2022
£    £   
Work-in-progress 3,523 2,415
Finished goods 1,560,453 984,695
1,563,976 987,110

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,985 15,449
Prepayments and accrued income 41,083 42,284
51,068 57,733

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 1,000,273 531,565
Trade creditors 88,695 86,244
Social security and other taxes 137,737 186,419
Payments on account 78,120 44,777
Directors' current accounts 25,901 25,901
Accruals and deferred income 86,838 77,906
1,417,564 952,812

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
80,501 126,500

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 55,628 55,628
Between one and five years 125,163 180,791
180,791 236,419

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,080,774 658,065

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 15,520
Provided during year (269 )
Balance at 30 September 2023 15,251

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
45 Ordinary 'A' £1 45 45
54 Ordinary 'B' £1 54 54
10 Ordinary 'C' £1 10 -
109 99

10 Ordinary 'C' shares of £1 each were allotted as fully paid as a bonus issue out of reserves during the year.

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.