Silverfin false false 31/03/2024 01/04/2023 31/03/2024 D Bamsey 05/04/2017 I C James 27/03/2017 I James 19 August 2024 The principal activity of the Company during the financial year was that of caravan sales. 10710652 2024-03-31 10710652 bus:Director1 2024-03-31 10710652 bus:Director2 2024-03-31 10710652 2023-03-31 10710652 core:CurrentFinancialInstruments 2024-03-31 10710652 core:CurrentFinancialInstruments 2023-03-31 10710652 core:Non-currentFinancialInstruments 2024-03-31 10710652 core:Non-currentFinancialInstruments 2023-03-31 10710652 core:ShareCapital 2024-03-31 10710652 core:ShareCapital 2023-03-31 10710652 core:RetainedEarningsAccumulatedLosses 2024-03-31 10710652 core:RetainedEarningsAccumulatedLosses 2023-03-31 10710652 core:LeaseholdImprovements 2023-03-31 10710652 core:PlantMachinery 2023-03-31 10710652 core:Vehicles 2023-03-31 10710652 core:FurnitureFittings 2023-03-31 10710652 core:OfficeEquipment 2023-03-31 10710652 core:LeaseholdImprovements 2024-03-31 10710652 core:PlantMachinery 2024-03-31 10710652 core:Vehicles 2024-03-31 10710652 core:FurnitureFittings 2024-03-31 10710652 core:OfficeEquipment 2024-03-31 10710652 2023-04-01 2024-03-31 10710652 bus:FilletedAccounts 2023-04-01 2024-03-31 10710652 bus:SmallEntities 2023-04-01 2024-03-31 10710652 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10710652 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10710652 bus:Director1 2023-04-01 2024-03-31 10710652 bus:Director2 2023-04-01 2024-03-31 10710652 bus:Director3 2023-04-01 2024-03-31 10710652 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 10710652 core:PlantMachinery 2023-04-01 2024-03-31 10710652 core:Vehicles 2023-04-01 2024-03-31 10710652 core:FurnitureFittings 2023-04-01 2024-03-31 10710652 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 10710652 2022-04-01 2023-03-31 10710652 core:LeaseholdImprovements 2023-04-01 2024-03-31 10710652 core:OfficeEquipment 2023-04-01 2024-03-31 10710652 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 10710652 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10710652 (England and Wales)

CARAVANTASTIC LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CARAVANTASTIC LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CARAVANTASTIC LTD

BALANCE SHEET

As at 31 March 2024
CARAVANTASTIC LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 315,853 268,086
315,853 268,086
Current assets
Stocks 4 1,302,359 1,881,228
Debtors 5 832,562 660,237
Cash at bank and in hand 64,353 175,402
2,199,274 2,716,867
Creditors: amounts falling due within one year 6 ( 1,214,121) ( 1,656,583)
Net current assets 985,153 1,060,284
Total assets less current liabilities 1,301,006 1,328,370
Creditors: amounts falling due after more than one year 7 ( 82,887) ( 23,320)
Net assets 1,218,119 1,305,050
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,218,019 1,304,950
Total shareholders' funds 1,218,119 1,305,050

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Caravantastic Ltd (registered number: 10710652) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

I James
Director
D Bamsey
Director
CARAVANTASTIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CARAVANTASTIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Caravantastic Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 25 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 32 29

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 14,504 24,031 351,606 16,260 8,597 414,998
Additions 526 0 167,865 0 1,956 170,347
Disposals 0 0 ( 96,840) 0 0 ( 96,840)
At 31 March 2024 15,030 24,031 422,631 16,260 10,553 488,505
Accumulated depreciation
At 01 April 2023 365 4,848 131,787 4,659 5,253 146,912
Charge for the financial year 587 3,836 72,828 2,320 2,155 81,726
Disposals 0 0 ( 55,986) 0 0 ( 55,986)
At 31 March 2024 952 8,684 148,629 6,979 7,408 172,652
Net book value
At 31 March 2024 14,078 15,347 274,002 9,281 3,145 315,853
At 31 March 2023 14,139 19,183 219,819 11,601 3,344 268,086

4. Stocks

2024 2023
£ £
Stocks 1,302,359 1,881,228

5. Debtors

2024 2023
£ £
Trade debtors 622,133 493,268
Other debtors 210,429 166,969
832,562 660,237

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,333 10,080
Trade creditors 1,095,543 1,356,594
Taxation and social security 5,452 170,150
Obligations under finance leases and hire purchase contracts (secured) 10,337 47,135
Other creditors 92,456 72,624
1,214,121 1,656,583

The hire purchase loan is secured against the asset with a carrying value of £80,153, with £10,337 due within one year and the remaining £69,820 due after more than one year.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,067 23,320
Obligations under finance leases and hire purchase contracts (secured) 69,820 0
82,887 23,320

The hire purchase loan is secured against the asset with a carrying value of £80,153, with £10,337 due within one year and the remaining £69,820 due after more than one year.

8. Related party transactions

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At April 2023, the balance owed by Mr D Bamsey was £32,650. During the year £67,107 was advanced to Mr D Bamsey, and £32,857 was repaid by Mr D Bamsey. At 31 March 2024, the balance owed by Mr D Bamsey was £66,900.

At April 2022, the balance owed by Mr D Bamsey was £20,339. During the year £49,459 was advanced to Mr D Bamsey, and £20,000 was repaid by Mr D Bamsey. At 31 March 2023, the balance owed by Mr D Bamsey was £49,798.