Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr M T Chrusciak 01/05/2016 Mr J J G Conibear 01/05/2016 Mr E J M Cooke 01/05/2016 Mr E Lofthouse 01/05/2016 Mr R M Rowse 14/06/2012 23 October 2024 The principal activity of the Company during the financial year was that of a holding company, and that of hotel accommodation and flat management. 08106223 2024-01-31 08106223 bus:Director1 2024-01-31 08106223 bus:Director2 2024-01-31 08106223 bus:Director3 2024-01-31 08106223 bus:Director4 2024-01-31 08106223 bus:Director5 2024-01-31 08106223 2023-01-31 08106223 core:CurrentFinancialInstruments 2024-01-31 08106223 core:CurrentFinancialInstruments 2023-01-31 08106223 core:Non-currentFinancialInstruments 2024-01-31 08106223 core:Non-currentFinancialInstruments 2023-01-31 08106223 core:ShareCapital 2024-01-31 08106223 core:ShareCapital 2023-01-31 08106223 core:SharePremium 2024-01-31 08106223 core:SharePremium 2023-01-31 08106223 core:RetainedEarningsAccumulatedLosses 2024-01-31 08106223 core:RetainedEarningsAccumulatedLosses 2023-01-31 08106223 core:Goodwill 2023-01-31 08106223 core:OtherResidualIntangibleAssets 2023-01-31 08106223 core:Goodwill 2024-01-31 08106223 core:OtherResidualIntangibleAssets 2024-01-31 08106223 core:LandBuildings 2023-01-31 08106223 core:PlantMachinery 2023-01-31 08106223 core:Vehicles 2023-01-31 08106223 core:FurnitureFittings 2023-01-31 08106223 core:OfficeEquipment 2023-01-31 08106223 core:ComputerEquipment 2023-01-31 08106223 core:LandBuildings 2024-01-31 08106223 core:PlantMachinery 2024-01-31 08106223 core:Vehicles 2024-01-31 08106223 core:FurnitureFittings 2024-01-31 08106223 core:OfficeEquipment 2024-01-31 08106223 core:ComputerEquipment 2024-01-31 08106223 core:CostValuation 2023-01-31 08106223 core:AdditionsToInvestments 2024-01-31 08106223 core:CostValuation 2024-01-31 08106223 bus:OrdinaryShareClass1 2024-01-31 08106223 core:WithinOneYear 2024-01-31 08106223 core:WithinOneYear 2023-01-31 08106223 core:BetweenOneFiveYears 2024-01-31 08106223 core:BetweenOneFiveYears 2023-01-31 08106223 2023-02-01 2024-01-31 08106223 bus:FilletedAccounts 2023-02-01 2024-01-31 08106223 bus:SmallEntities 2023-02-01 2024-01-31 08106223 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08106223 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08106223 bus:Director1 2023-02-01 2024-01-31 08106223 bus:Director2 2023-02-01 2024-01-31 08106223 bus:Director3 2023-02-01 2024-01-31 08106223 bus:Director4 2023-02-01 2024-01-31 08106223 bus:Director5 2023-02-01 2024-01-31 08106223 core:Goodwill 2023-02-01 2024-01-31 08106223 core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 08106223 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 08106223 core:PlantMachinery core:BottomRangeValue 2023-02-01 2024-01-31 08106223 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 08106223 core:Vehicles core:TopRangeValue 2023-02-01 2024-01-31 08106223 core:FurnitureFittings core:TopRangeValue 2023-02-01 2024-01-31 08106223 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 08106223 core:ComputerEquipment core:TopRangeValue 2023-02-01 2024-01-31 08106223 2022-02-01 2023-01-31 08106223 core:LandBuildings 2023-02-01 2024-01-31 08106223 core:PlantMachinery 2023-02-01 2024-01-31 08106223 core:Vehicles 2023-02-01 2024-01-31 08106223 core:FurnitureFittings 2023-02-01 2024-01-31 08106223 core:OfficeEquipment 2023-02-01 2024-01-31 08106223 core:ComputerEquipment 2023-02-01 2024-01-31 08106223 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 08106223 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 08106223 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08106223 (England and Wales)

THE CAMEL'S BACK LIMITED

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

THE CAMEL'S BACK LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

THE CAMEL'S BACK LIMITED

BALANCE SHEET

As at 31 January 2024
THE CAMEL'S BACK LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2 0
Tangible assets 4 2,674,485 781,646
Investments 5 634,858 634,856
3,309,345 1,416,502
Current assets
Debtors 6 1,804,260 1,139,941
Cash at bank and in hand 82,382 396,104
1,886,642 1,536,045
Creditors: amounts falling due within one year 7 ( 1,474,783) ( 1,084,205)
Net current assets 411,859 451,840
Total assets less current liabilities 3,721,204 1,868,342
Creditors: amounts falling due after more than one year 8 0 ( 9,847)
Net assets 3,721,204 1,858,495
Capital and reserves
Called-up share capital 9 2,160,741 1,750,200
Share premium account 1,489,459 0
Profit and loss account 71,004 108,295
Total shareholders' funds 3,721,204 1,858,495

For the financial year ending 31 January 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 The Camel's Back Limited (registered number: 08106223) were approved and authorised for issue by the Board of Directors on 23 October 2024. They were signed on its behalf by:

Mr R M Rowse
Director
THE CAMEL'S BACK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
THE CAMEL'S BACK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

The Camel's Back 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 4 St Mary's Arcade, Wallingford, Oxfordshire, OX10 0EY, United Kingdom.

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.

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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

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.

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 supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 not amortised
Other intangible assets not amortised
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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 basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 5 - 50 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Computer 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.

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.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised 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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 February 2023 0 0 0
Additions 1 1 2
At 31 January 2024 1 1 2
Accumulated amortisation
At 01 February 2023 0 0 0
At 31 January 2024 0 0 0
Net book value
At 31 January 2024 1 1 2
At 31 January 2023 0 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 February 2023 799,447 66,222 38,690 0 0 3,446 907,805
Additions 1,880,507 0 1,000 100,247 2,000 6,729 1,990,483
Disposals 0 0 ( 38,690) 0 0 0 ( 38,690)
At 31 January 2024 2,679,954 66,222 1,000 100,247 2,000 10,175 2,859,598
Accumulated depreciation
At 01 February 2023 94,300 11,092 20,197 0 0 570 126,159
Charge for the financial year 45,463 11,131 5,119 20,004 367 2,019 84,103
Disposals 0 0 ( 25,149) 0 0 0 ( 25,149)
At 31 January 2024 139,763 22,223 167 20,004 367 2,589 185,113
Net book value
At 31 January 2024 2,540,191 43,999 833 80,243 1,633 7,586 2,674,485
At 31 January 2023 705,147 55,130 18,493 0 0 2,876 781,646

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 634,856
Additions 2
At 31 January 2024 634,858
Carrying value at 31 January 2024 634,858
Carrying value at 31 January 2023 634,856

6. Debtors

2024 2023
£ £
Trade debtors 5,155 0
Amounts owed by Group undertakings 1,778,767 1,126,046
Other debtors 20,338 13,895
1,804,260 1,139,941

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 34,105 26,528
Amounts owed to Group undertakings 2 3,464
Other taxation and social security 26,144 0
Obligations under finance leases and hire purchase contracts 0 6,951
Other creditors 1,414,532 1,047,262
1,474,783 1,084,205

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 9,847

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,160,741 Ordinary shares of £ 1.00 each (2023: 1,750,200 shares of £ 1.00 each) 2,160,741 1,750,200

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 21,714 35,261
between one and five years 31,297 55,527
53,011 90,788