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REGISTERED NUMBER: 07286914 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VENTURE CARAVANS LIMITED

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VENTURE CARAVANS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: D J Brown
J Brown
M Turley





REGISTERED OFFICE: Toll House
A5 Watling Street
Watford Gap
Northamptonshire
NN6 7UJ





REGISTERED NUMBER: 07286914 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 8,316
Tangible assets 5 327,874 1,054,982
Investment property 6 - 200,000
327,874 1,263,298

CURRENT ASSETS
Stocks 4,386,209 3,569,735
Debtors 7 1,268,359 642,022
Cash at bank 1,830,481 1,501,143
7,485,049 5,712,900
CREDITORS
Amounts falling due within one year 8 1,337,045 715,568
NET CURRENT ASSETS 6,148,004 4,997,332
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,475,878

6,260,630

CREDITORS
Amounts falling due after more than one
year

9

(1,900,000

)

(1,900,000

)

PROVISIONS FOR LIABILITIES (40,750 ) (22,326 )
NET ASSETS 4,535,128 4,338,304

CAPITAL AND RESERVES
Called up share capital 11 3 3
Retained earnings 4,535,125 4,338,301
SHAREHOLDERS' FUNDS 4,535,128 4,338,304

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

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

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

BALANCE SHEET - continued
31 December 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 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 11 July 2024 and were signed on its behalf by:





D J Brown - Director


VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

1. STATUTORY INFORMATION

Venture Caravans Limited 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.

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.

Significant judgements and estimates
The company is not subject to any significant judgements or estimates.

Turnover and other income
Turnover is measured at the fair value of the consideration receivable net of VAT and trade discounts. The polices adopted for the recognition of turnover are as follows:-

Sales of Goods

Turnover from the sale of caravans, motorhomes and accessories is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the cost incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from workshop servicing and repair work is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest, commission and rent received

Interest income is recognised using the effective interest method. Commission and rent receivable is recognised as the company's right to receive payment is established.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years. Provision is made for any impairment.

Intangible assets
Intangible assets acquired separately from a business are capitalised at cost.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Other intangible assets - 10 years useful life

Provision is made for any impairment.

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes cost directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each assets on a systematic basis over its expected useful life as follows:-

Freehold property3% straight line
Plant and machinery15% reducing balance
Fixtures and Fittings15% reducing balance
Motor vehicles25% reducing balance

Land and Buildings have been valued at cost.

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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other cost incurred in bringing stock to its present location and condition. Cost is calculated using first-in, first-out formula.

Provision is made for damaged, obsolete and slow-moving stock where appropriate on all shop or workshop stock. The cost of all caravan or motorhome stock is written back to reflect any damage or obsolescence.

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.

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.

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

There is an interest free secured stocking plan facility which is under normal industry standard terms.

The company has issued preference shares which are valued at cost less impairment. The preference shares attract a 8% dividend.

The company does not have any other basic financial instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 200,000 8,316 208,316
Disposals - (8,316 ) (8,316 )
At 31 December 2023 200,000 - 200,000
AMORTISATION
At 1 January 2023
and 31 December 2023 200,000 - 200,000
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - 8,316 8,316

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 961,811 54,576 72,596 114,082 1,203,065
Additions 2,656 22,797 5,161 271,688 302,302
Disposals (964,467 ) - - - (964,467 )
At 31 December 2023 - 77,373 77,757 385,770 540,900
DEPRECIATION
At 1 January 2023 37,505 17,888 38,858 53,832 148,083
Charge for year - 9,304 5,805 87,339 102,448
Eliminated on disposal (37,505 ) - - - (37,505 )
At 31 December 2023 - 27,192 44,663 141,171 213,026
NET BOOK VALUE
At 31 December 2023 - 50,181 33,094 244,599 327,874
At 31 December 2022 924,306 36,688 33,738 60,250 1,054,982

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 200,000
Disposals (200,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 200,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,172 33,437
Amounts owed by group undertakings 968,725 -
Other debtors 117,763 112,000
Directors' current accounts - 420,516
VAT 48,199 10,136
Prepayments 28,500 65,933
1,268,359 642,022

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,093,591 548,234
Tax 170,229 89,700
Social security and other taxes 16,907 18,535
Other creditors 37,250 44,867
Directors' current accounts 740 5
Accrued expenses 18,328 14,227
1,337,045 715,568

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Preference shares 1,900,000 1,900,000

10. FINANCIAL INSTRUMENTS

The company has £1,900,000 in £1 preference shares in issue. They are non redeemable and attract a 8% dividend.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 A Ordinary £1 1 1
100 B Ordinary 1p 1 1
80 C Ordinary 1p 1 1
20 D Ordinary 1p - -
3 3

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D J Brown
Balance outstanding at start of year 418,345 -
Amounts advanced - 418,345
Amounts repaid (418,345 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 418,345

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £87,000 (2022 - £58,000) were paid to the directors .

VENTURE CARAVANS LIMITED (REGISTERED NUMBER: 07286914)

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

14. ULTIMATE CONTROLLING PARTY

The controlling party is J Brown.