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REGISTERED NUMBER: 04524318 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

Countrywide Motorhomes Ltd.

Countrywide Motorhomes Ltd. (Registered number: 04524318)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


Countrywide Motorhomes Ltd.

COMPANY INFORMATION
for the year ended 31 May 2023







Directors: D Carpenter
Mrs J Carpenter
A D Carpenter





Secretary: Mrs J Carpenter





Registered office: 46 Hatchpond Road
Nuffield Industrial Estate
Poole
Dorset
Devon
BH17 0JZ





Registered number: 04524318 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Countrywide Motorhomes Ltd. (Registered number: 04524318)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 134,832 108,002
Investment property 6 1,525,377 1,525,377
1,660,209 1,633,379

Current assets
Debtors 7 265,065 234,293
Cash at bank 15,919 41,443
280,984 275,736
Creditors
Amounts falling due within one year 8 78,715 29,761
Net current assets 202,269 245,975
Total assets less current liabilities 1,862,478 1,879,354

Creditors
Amounts falling due after more than
one year

9

(51,783

)

(154,221

)

Provisions for liabilities 11 (119,700 ) (135,950 )
Net assets 1,690,995 1,589,183

Capital and reserves
Called up share capital 12 100 100
Revaluation reserve 13 505,451 489,201
Retained earnings 1,185,444 1,099,882
Shareholders' funds 1,690,995 1,589,183

Countrywide Motorhomes Ltd. (Registered number: 04524318)

BALANCE SHEET - continued
31 May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





A D Carpenter - Director


Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Countrywide Motorhomes Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office 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 as modified by the revaluation of certain assets.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on cost
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 June 2022
and 31 May 2023 30,000
Amortisation
At 1 June 2022
and 31 May 2023 30,000
Net book value
At 31 May 2023 -
At 31 May 2022 -

Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1 June 2022 18,795 109,261 128,056
Additions - 50,472 50,472
At 31 May 2023 18,795 159,733 178,528
Depreciation
At 1 June 2022 16,400 3,654 20,054
Charge for year 838 22,804 23,642
At 31 May 2023 17,238 26,458 43,696
Net book value
At 31 May 2023 1,557 133,275 134,832
At 31 May 2022 2,395 105,607 108,002

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 June 2022
and 31 May 2023 1,525,377
Net book value
At 31 May 2023 1,525,377
At 31 May 2022 1,525,377

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2016 100,062
Valuation in 2022 503,890
Cost 921,425
1,525,377

Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

6. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 921,425 921,425

Freehold investment property was valued on an open market basis on 31 May 2023 by the director. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 265,065 234,293

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,060 14,078
Taxation and social security 16,025 11,352
Other creditors 56,630 4,331
78,715 29,761

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 51,783 154,221

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 27,543 97,909

Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 57,843 168,299

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 119,700 135,950

Deferred
tax
£   
Balance at 1 June 2022 135,950
Provided during year (16,250 )
Balance at 31 May 2023 119,700

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

13. RESERVES
Revaluation
reserve
£   
At 1 June 2022 489,201
Property revaluation 16,250

At 31 May 2023 505,451

Countrywide Motorhomes Ltd. (Registered number: 04524318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

14. RELATED PARTY DISCLOSURES

The company rents land and buildings to Motorhome Dealer Group, a business in which it is a partner. It also receives a share of profits from that business and during the year, a total of £110,242 in rent was received and a share of profits of £51,167 was due, both of which is presented in the financial statements as other operating income.

Two of the directors, Mr D and Mrs J Carpenter have a loan account with the company. At the balance sheet date they were jointly owed £41,149.