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REGISTERED NUMBER: 05737101 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

Tilshead Caravans Ltd

Tilshead Caravans Ltd (Registered number: 05737101)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tilshead Caravans Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M J Redshaw
M Redshaw
J D Redshaw
N P Redshaw





REGISTERED OFFICE: Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA





REGISTERED NUMBER: 05737101 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Tilshead Caravans Ltd (Registered number: 05737101)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 1,051,010 944,273

CURRENT ASSETS
Inventories 2,195,685 1,628,892
Debtors 6 61,008 301,834
Cash at bank and in hand 96,136 207,440
2,352,829 2,138,166
CREDITORS
Amounts falling due within one year 7 (2,213,721 ) (1,819,649 )
NET CURRENT ASSETS 139,108 318,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,190,118

1,262,790

CREDITORS
Amounts falling due after more than one
year

8

(139,244

)

(143,981

)

PROVISIONS FOR LIABILITIES (26,991 ) (34,013 )
NET ASSETS 1,023,883 1,084,796

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,013,883 1,074,796
SHAREHOLDERS' FUNDS 1,023,883 1,084,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Tilshead Caravans Ltd (Registered number: 05737101)

Statement of Financial Position - continued
31 March 2024


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 Board of Directors and authorised for issue on 14 June 2024 and were signed on its behalf by:





J D Redshaw - Director


Tilshead Caravans Ltd (Registered number: 05737101)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tilshead Caravans Ltd 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the sale and hire of caravans and motor homes during the year, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings & leasehold - 2% on reducing balance and 15 years
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold property consists solely of land, which is included at cost and is not depreciated.

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Tilshead Caravans Ltd (Registered number: 05737101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Buildings Plant and Motor
land & leasehold machinery vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2023 315,040 610,838 31,676 361,766 1,319,320
Additions - 140,933 5,730 54,510 201,173
Disposals - - (13,983 ) (47,280 ) (61,263 )
At 31 March 2024 315,040 751,771 23,423 368,996 1,459,230
Depreciation
At 1 April 2023 - 197,404 16,970 160,673 375,047
Charge for year - 11,857 2,382 60,423 74,662
Eliminated on disposal - - (10,284 ) (31,205 ) (41,489 )
At 31 March 2024 - 209,261 9,068 189,891 408,220
Net book value
At 31 March 2024 315,040 542,510 14,355 179,105 1,051,010
At 31 March 2023 315,040 413,434 14,706 201,093 944,273

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 51,559 292,726
Other debtors 9,449 9,108
61,008 301,834

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 181,945 184,653
Trade creditors 1,715,833 1,288,095
Taxation and social security 54,898 93,158
Other creditors 261,045 253,743
2,213,721 1,819,649

Tilshead Caravans Ltd (Registered number: 05737101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in trade creditors is £1,628,859 (2023: £1,245,375) due to stocking finance companies. The amounts owed are secured on stock.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 139,244 143,981

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 321,189 328,634

The bank loans are secured by fixed and floating charges over the assets of the company.

The hire purchase contracts are secured on the relevant fixed assets or on the items held in stock as hire vehicles.