Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Neil Mackintosh 09/04/2018 Nicholas Stokes 09/04/2018 11 October 2024 The principal activity of the Company during the financial year was that of conversion of vans into camper vans and hire of camper vans. SC593845 2024-04-30 SC593845 bus:Director1 2024-04-30 SC593845 bus:Director2 2024-04-30 SC593845 2023-04-30 SC593845 core:CurrentFinancialInstruments 2024-04-30 SC593845 core:CurrentFinancialInstruments 2023-04-30 SC593845 core:Non-currentFinancialInstruments 2024-04-30 SC593845 core:Non-currentFinancialInstruments 2023-04-30 SC593845 core:ShareCapital 2024-04-30 SC593845 core:ShareCapital 2023-04-30 SC593845 core:RevaluationReserve 2024-04-30 SC593845 core:RevaluationReserve 2023-04-30 SC593845 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC593845 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC593845 core:Vehicles 2023-04-30 SC593845 core:FurnitureFittings 2023-04-30 SC593845 core:Vehicles 2024-04-30 SC593845 core:FurnitureFittings 2024-04-30 SC593845 bus:OrdinaryShareClass1 2024-04-30 SC593845 2023-05-01 2024-04-30 SC593845 bus:FilletedAccounts 2023-05-01 2024-04-30 SC593845 bus:SmallEntities 2023-05-01 2024-04-30 SC593845 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC593845 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC593845 bus:Director1 2023-05-01 2024-04-30 SC593845 bus:Director2 2023-05-01 2024-04-30 SC593845 core:Vehicles core:TopRangeValue 2023-05-01 2024-04-30 SC593845 core:FurnitureFittings 2023-05-01 2024-04-30 SC593845 2022-05-01 2023-04-30 SC593845 core:Vehicles 2023-05-01 2024-04-30 SC593845 core:Vehicles 1 2023-05-01 2024-04-30 SC593845 core:FurnitureFittings 1 2023-05-01 2024-04-30 SC593845 1 2023-05-01 2024-04-30 SC593845 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 SC593845 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 SC593845 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC593845 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC593845 (Scotland)

GO NORTH CAMPERS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

GO NORTH CAMPERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

GO NORTH CAMPERS LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
GO NORTH CAMPERS LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 245,307 114,759
245,307 114,759
Current assets
Debtors 4 8,709 14,682
Cash at bank and in hand 22,711 39,905
31,420 54,587
Creditors: amounts falling due within one year 5 ( 53,631) ( 76,042)
Net current liabilities (22,211) (21,455)
Total assets less current liabilities 223,096 93,304
Creditors: amounts falling due after more than one year 6 ( 31,288) ( 41,428)
Provision for liabilities 7 ( 47,941) ( 21,296)
Net assets 143,867 30,580
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 104,916 0
Profit and loss account 38,851 30,480
Total shareholders' funds 143,867 30,580

For the financial year ending 30 April 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 Go North Campers Limited (registered number: SC593845) were approved and authorised for issue by the Board of Directors on 11 October 2024. They were signed on its behalf by:

Neil Mackintosh
Director
Nicholas Stokes
Director
GO NORTH CAMPERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
GO NORTH CAMPERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 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

Go North Campers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 18 Chanonry Road North, Elgin, IV30 6NB, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 current tax rates and laws. 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.

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:

Vehicles 10 years straight line
Fixtures and fittings 25 % 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.

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.

Assets whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the vehicles is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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 Statement of Comprehensive Income as described below.

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.

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.

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, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

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 at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 May 2023 153,568 1,536 155,104
Additions 32,000 1,200 33,200
Adjustments on revaluations 58,083 0 58,083
At 30 April 2024 243,651 2,736 246,387
Accumulated depreciation
At 01 May 2023 39,817 528 40,345
Charge for the financial year 18,557 552 19,109
Adjustments on revaluations ( 58,374) 0 ( 58,374)
At 30 April 2024 0 1,080 1,080
Net book value
At 30 April 2024 243,651 1,656 245,307
At 30 April 2023 113,751 1,008 114,759

4. Debtors

2024 2023
£ £
Other debtors 8,709 14,682

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Taxation and social security 7,103 6,811
Obligations under finance leases and hire purchase contracts 13,396 14,478
Other creditors 23,132 44,753
53,631 76,042

Within bank loans is a bounce back loan which is secured by the UK government.

Obligations under hire purchase contracts are secured over the asset in which they relate.

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

2024 2023
£ £
Bank loans 25,756 30,832
Obligations under finance leases and hire purchase contracts 5,532 10,596
31,288 41,428

Within bank loans is a bounce back loan which is secured by the UK government.

Obligations under hire purchase contracts are secured over the asset in which they relate.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 47,941 21,296

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due from key management personnel 8,709 14,682

There are no fixed terms of repayment and no interest has been charged.

Advances

Other related party transactions

2024 2023
£ £
Other related parties 0 18,808