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Company No: 04159388 (England and Wales)

CAMEL VALLEY LIMITED

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

CAMEL VALLEY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CAMEL VALLEY LIMITED

BALANCE SHEET

As at 31 March 2024
CAMEL VALLEY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 12,639 0
Tangible assets 4 411,920 484,856
424,559 484,856
Current assets
Stocks 5 2,076,144 1,615,002
Debtors 6 188,324 148,507
Cash at bank and in hand 1,549,499 1,084,075
3,813,967 2,847,584
Creditors: amounts falling due within one year 7 ( 360,437) ( 316,397)
Net current assets 3,453,530 2,531,187
Total assets less current liabilities 3,878,089 3,016,043
Provision for liabilities ( 90,161) ( 99,317)
Net assets 3,787,928 2,916,726
Capital and reserves
Called-up share capital 8 1,100 1,100
Profit and loss account 3,786,828 2,915,626
Total shareholders' funds 3,787,928 2,916,726

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 Camel Valley Limited (registered number: 04159388) were approved and authorised for issue by the Board of Directors on 02 October 2024. They were signed on its behalf by:

S R Lindo
Director
CAMEL VALLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CAMEL VALLEY LIMITED

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

Camel Valley 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 Little Denby Farm, Nanstallon, Bodmin, PL30 5LG, England, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer & revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Trademarks, patents and licences 5 years straight line
Website costs 3 years straight line
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 [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 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.

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 Income and Retained Earnings 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.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors; and
•Cash and bank balances.

All financial instruments are classified as basic.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 18

3. Intangible assets

Goodwill Trademarks, patents
and licences
Website costs Total
£ £ £ £
Cost
At 01 April 2023 37,882 1,170 0 39,052
Additions 0 0 13,000 13,000
At 31 March 2024 37,882 1,170 13,000 52,052
Accumulated amortisation
At 01 April 2023 37,882 1,170 0 39,052
Charge for the financial year 0 0 361 361
At 31 March 2024 37,882 1,170 361 39,413
Net book value
At 31 March 2024 0 0 12,639 12,639
At 31 March 2023 0 0 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2023 307,887 1,115,189 158,050 1,581,126
Additions 0 60,170 0 60,170
At 31 March 2024 307,887 1,175,359 158,050 1,641,296
Accumulated depreciation
At 01 April 2023 233,879 796,891 65,500 1,096,270
Charge for the financial year 22,857 87,112 23,137 133,106
At 31 March 2024 256,736 884,003 88,637 1,229,376
Net book value
At 31 March 2024 51,151 291,356 69,413 411,920
At 31 March 2023 74,008 318,298 92,550 484,856

5. Stocks

2024 2023
£ £
Stocks 2,076,144 1,615,002

6. Debtors

2024 2023
£ £
Trade debtors 168,462 124,346
Other debtors 19,862 24,161
188,324 148,507

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 13,688 37,372
Taxation and social security 334,880 275,025
Other creditors 11,869 4,000
360,437 316,397

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
100 Ordinary A shares of £ 1.00 each 100 100
1,100 1,100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by directors 9,382 13,082