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REGISTERED NUMBER: NI017183 (Northern Ireland)












Bonalston Caravans Limited

Unaudited Financial Statements for the Year Ended 30th June 2023






Bonalston Caravans Limited (Registered number: NI017183)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Balance sheet 1

Notes to the financial statements 3


Bonalston Caravans Limited (Registered number: NI017183)

Balance Sheet
30th June 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 6,690,620 6,668,773

Current assets
Stocks 5 943,002 457,290
Debtors 6 749,063 669,220
Cash at bank and in hand 291,376 714,424
1,983,441 1,840,934
Creditors
Amounts falling due within one year 7 (2,126,654 ) (2,429,045 )
Net current liabilities (143,213 ) (588,111 )
Total assets less current liabilities 6,547,407 6,080,662

Creditors
Amounts falling due after more than one
year

8

(26,280

)

(75,673

)

Provisions for liabilities 11 (6,461 ) (7,339 )
Net assets 6,514,666 5,997,650

Capital and reserves
Called up share capital 12 100 100
Retained earnings 6,514,566 5,997,550
Shareholders' funds 6,514,666 5,997,650

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

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

Bonalston Caravans Limited (Registered number: NI017183)

Balance Sheet - continued
30th June 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th March 2024 and were signed on its behalf by:




Mr S D O'Neill - Director



Mr T O'Neill - Director


Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements
for the year ended 30th June 2023

1. Statutory information

Bonalston Caravans Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI017183

Registered office: 80 Mill Road
Portstewart
Co. Londonderry
BT55 7SW

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% Straight line
Fixtures and fittings - 25% Straight line
Motor vehicles - 25% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 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.

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.

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 merchandise sold or services performed in the
ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, A provision for the
impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at
amortised cost using the effective interest method.

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 transaction 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 the 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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 12 ) .

Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1st July 2022 6,602,166 33,400 149,060 231,762 7,016,388
Additions - - 3,431 36,392 39,823
At 30th June 2023 6,602,166 33,400 152,491 268,154 7,056,211
Depreciation
At 1st July 2022 - 29,858 149,061 168,696 347,615
Charge for year - 1,667 71 16,238 17,976
At 30th June 2023 - 31,525 149,132 184,934 365,591
Net book value
At 30th June 2023 6,602,166 1,875 3,359 83,220 6,690,620
At 30th June 2022 6,602,166 3,542 (1 ) 63,066 6,668,773

5. Stocks
2023 2022
£    £   
Finished goods 943,002 457,290

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 495,056 412,301
Other debtors 187,797 187,797
VAT - 21,399
Prepayments 66,210 47,723
749,063 669,220

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 38,098 247,376
Hire purchase contracts 8,518 8,518
Trade creditors 591,008 450,226
Corporation tax 264,103 304,689
Social security and other taxes 24,408 17,588
VAT 11,468 -
Employee pensions payable 1,762 1,357
Directors' current accounts 1,025,414 1,164,077
Accruals and deferred income 153,875 226,214
Accrued expenses 8,000 9,000
2,126,654 2,429,045

Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans (see note 9) 22,126 63,921
Hire purchase contracts 4,154 11,752
26,280 75,673

9. Loans

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 38,098 247,376

Amounts falling due between one and two years:
Bank loans - 1-2 years 22,126 63,921

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 60,224 311,297
Hire purchase contracts 12,672 20,270
72,896 331,567

Bank loans are secured by fixed and floating charges over land and property by Bank of Ireland.

Hire purchase creditors are secured on the asset that is financed.

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax 6,461 7,339

Deferred
tax
£   
Balance at 1st July 2022 7,339
Provided during year (878 )
Balance at 30th June 2023 6,461

Bonalston Caravans Limited (Registered number: NI017183)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

12. Called up share capital

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

13. Directors' advances, credits and guarantees

The directors have provided interest free loans to the company. At the year end amounts due to Terry O'Neill and Stephen O'Neill were £556,019 and £469,394 respectively.