REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st December 2022 |
for |
Border Caravans Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st December 2022 |
for |
Border Caravans Limited |
Border Caravans Limited (Registered number: SC245575) |
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 |
Border Caravans 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 |
BANKERS: |
189 - 191 High Street |
Gosforth |
Newcastle upon Tyne |
NE3 1HE |
SOLICITORS: |
37 George Street |
Dumfries |
DG1 1EB |
Border Caravans Limited (Registered number: SC245575) |
Balance Sheet |
31st December 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Border Caravans Limited (Registered number: SC245575) |
Notes to the Financial Statements |
for the Year Ended 31st December 2022 |
1. | STATUTORY INFORMATION |
Border Caravans 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. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Border Caravans Limited (Registered number: SC245575) |
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 goods and services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price and represent the full value of the goods and 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. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2022 |
and 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Scotland |
Nature of business: |
% |
Class of shares: | holding |
Border Caravans Limited (Registered number: SC245575) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
4. | FIXED ASSET INVESTMENTS - continued |
Registered office: England |
Nature of business: |
% |
Class of shares: | holding |
Registered office: England |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Scotland |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Hire purchase contracts |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
Bank loans are secured by way of unlimited guarantee and bond and floating charges over the assets of the company. |
Border Caravans Limited (Registered number: SC245575) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £57,500 (2021 - £100,000) were paid to the directors . |
As at 31st December 2022 the company was owed £2,115,478 (2021 - £2,180,424) from loans to its wholly owned subsidiaries. The amounts owed to the company are interest free with no fixed date for repayment. |
The company owed £155,960 (2021 - £135,481) from a loan to a wholly owned subsidiary. The amount owed is interest free with no fixed date of repayment. |
The company received dividends of £222,000 (2021 - £222,000), and management fees of £36,000 (2021 - £36,000) from subsidiaries during the year. |
The company operates a directors' current account. At 31st December 2022 the company was owed £67,244 (2021 - £1,040) at the year end. This sum is interest free and repayable on demand. |
The company made sales of £978,462 (2021 - £1,573,352) to subsidiaries in the year. The sum of £375,500 (2021 - £514,500) was due at the year end from subsidiaries in respect of sales. The company owed subsidiaries £4,150 (2021 - £3,320) at the year end. |