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Company No: 00559774 (England and Wales)

FLEET CARAVANS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FLEET CARAVANS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FLEET CARAVANS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
FLEET CARAVANS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr A C W Beard
Mr F V Clarke
REGISTERED OFFICE Broadwalk House
Southernhay West
Exeter
EX1 1UA
United Kingdom
COMPANY NUMBER 00559774 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
FLEET CARAVANS LIMITED

BALANCE SHEET

As at 31 December 2023
FLEET CARAVANS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 62,791 43,696
Investment property 4 8,209,587 8,100,000
Investments 5 1,069,643 1,021,114
9,342,021 9,164,810
Current assets
Debtors 6 34,866 52,466
Cash at bank and in hand 1,501,762 1,379,611
1,536,628 1,432,077
Creditors: amounts falling due within one year 7 ( 57,803) ( 17,256)
Net current assets 1,478,825 1,414,821
Total assets less current liabilities 10,820,846 10,579,631
Provision for liabilities ( 1,893,600) ( 1,865,000)
Net assets 8,927,246 8,714,631
Capital and reserves
Called-up share capital 8 5,000 5,000
Profit and loss account 8,922,246 8,709,631
Total shareholder's funds 8,927,246 8,714,631

For the financial year ending 31 December 2023 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 Fleet Caravans Limited (registered number: 00559774) were approved and authorised for issue by the Board of Directors on 19 September 2024. They were signed on its behalf by:

Mr A C W Beard
Director
FLEET CARAVANS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FLEET CARAVANS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

Fleet Caravans Limited (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 Broadwalk House, Southernhay West, Exeter, EX1 1UA, United Kingdom. The trading address of the company is Grange Estate, Coxheath Road, Church Crookham, Fleet, GU52 6QR .

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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. There are no material departures from FRS 102.

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

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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 reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

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.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 January 2023 108,977 108,977
Additions 27,000 27,000
At 31 December 2023 135,977 135,977
Accumulated depreciation
At 01 January 2023 65,281 65,281
Charge for the financial year 7,905 7,905
At 31 December 2023 73,186 73,186
Net book value
At 31 December 2023 62,791 62,791
At 31 December 2022 43,696 43,696

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 8,100,000
Additions 109,587
As at 31 December 2023 8,209,587

Valuation

There has been no valuation of investment properties by an independent valuer. The properties have been valued by the directors.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Cost less depreciation 330,858 229,550

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 1,021,114 1,021,114
Additions 52,862 52,862
Disposals ( 57,789) ( 57,789)
Movement in fair value 53,456 53,456
At 31 December 2023 1,069,643 1,069,643
Carrying value at 31 December 2023 1,069,643 1,069,643
Carrying value at 31 December 2022 1,021,114 1,021,114

6. Debtors

2023 2022
£ £
Trade debtors 11,409 43,985
Prepayments 23,457 8,481
34,866 52,466

7. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 12,446 3,800
Taxation and social security 43,438 10,990
Other creditors 1,919 2,466
57,803 17,256

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each 5,000 5,000

Reserves

Included in the profit and loss account is a profit of £48,535 (2022: profit of £1,933,954) that relates to non-distributable reserves. At the year end, non-distributable funds totalled £6,153,857 (2022: £6,105,322).