REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st December 2022 |
for |
Riverside Caravan Park (Hawick) Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st December 2022 |
for |
Riverside Caravan Park (Hawick) Limited |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Contents of the Financial Statements |
for the Year Ended 31st December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 6 |
Riverside Caravan Park (Hawick) Limited |
Company Information |
for the Year Ended 31st December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Dumfries Enterprise Park |
Heathhall |
Dumfries |
DUMFRIESSHIRE |
DG1 3SJ |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Balance Sheet |
31st December 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 Board of Directors and authorised for issue on |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Notes to the Financial Statements |
for the Year Ended 31st December 2022 |
1. | STATUTORY INFORMATION |
Riverside Caravan Park (Hawick) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Amounts written off each asset over the estimated useful life represent cost less residual value. |
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Provisions and contingencies |
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
Trade debtors |
Trade debtors are amounts due from customers for the sale of services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price and represent the full value of the services charged to customers, including any amounts charged on for third parties. |
Trade Creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts due to sub-contractors are recognised within Trade Creditors. |
Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
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 transactions 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st January 2022 |
Additions |
At 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1st January 2022 |
Transfer to ownership | (13,200 | ) |
At 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Transfer to ownership | (6,890 | ) |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
The hire purchase creditors are secured on the assets on which the finance is outstanding. |
The company's bank facilities form part of the Group facility extended by HSBC to the Group's parent company, Border Caravans Limited. These facilities are secured by way of unlimited guarantee and bond and floating charges over the assets of that company. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Riverside Caravan Park (Hawick) Limited (Registered number: 04091550) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
9. | RELATED PARTY DISCLOSURES |
During the year the company made purchases of £114,667 (2021 - £152,000) from the parent company, £19,917 (2021 - £0) from group companies. |
The company has inter-company debtors of £30,000 (2021 - £30,000) at the year end. |
The company has parent company creditor of £85,000 (2021 - £38,000) at the year end. |
The company paid dividends of £36,000 (2021 - £36,000) to the parent company in the year. |
The parent company was owed £31,577 (2021 - £42,040) at the year end. Both loans are interest free and payable on demand. |
The company operates an interest free loan with group companies. £149 (2021 - £149) was owing at the year end to the group companies. |
10. | ULTIMATE CONTROLLING PARTY |
The company is fully under the control of Border Caravans Limited, a company incorporated in Scotland, which owns 100% of the share capital. The parent company registered office is at Farries, Kirk & McVean, Dumfries Enterprise Park, Dumfries, DG1 3SJ. |