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REGISTERED NUMBER: 04721969 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 March 2024

for

Swindon Caravan Centre Limited

Swindon Caravan Centre Limited (Registered number: 04721969)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


Swindon Caravan Centre Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G R Collister
Mrs J Collister
T R Collister





SECRETARY: G R Collister





REGISTERED OFFICE: Greatfield
Royal Wootton Bassett
Swindon
Wiltshire
SN4 8EQ





REGISTERED NUMBER: 04721969 (England and Wales)





AUDITORS: Langham Walsh Limitied - Statutory Auditor
Blythe Valley Innovation Centre
Central Boluevard
Blythe Valley Park
Solihull
West Midlands
B90 8AJ

Swindon Caravan Centre Limited (Registered number: 04721969)

Group Strategic Report
for the Year Ended 31 March 2024

The Directors present their Group Strategic Report of the Swindon Caravan Centre Limited for the year ended 31 March 2024 and comment on its strategic performance and risks and uncertainties throughout the year under review, as well as its position at the end of the year.

REVIEW OF BUSINESS
The Directors are delighted with the continued profitability of the Group, at a time of slow economic growth and economic uncertainty.

The Directors believe their focus on operations during this and prior years has helped to achieve profitability in difficult times globally for business.

The Directors believe that the Group can continue to use the synergy of multiple sites to reduce costs through economies of scale and offer a wider range of products to the customer.

The Directors believe that the Groups financial position at the year end is very healthy. The Groups Net Current Asset position has fallen from £4.5m to £4.3m. The Groups Net Asset position has risen from £5.7m to £6.2m. During the year the Group has further invested into an Investment Property.

The Directors consider the key performance indicators of the Group to be turnover and cost of sales. Turnover has fallen by 6% to £22.7m and cost of sales has fallen by 2% to £20.5m. The Groups main activities are the sale, service and repair of new and used caravans and the sale of camping and caravanning accessories. The Directors have indicated that the Group has maintained profitability in the following period. The investment in the e-commerce website has enabled the Group to reach customers on a national scale. Over the previous years the Group has successfully trialled the sales of Motorhomes, which can now be purchased from all three sites.


Swindon Caravan Centre Limited (Registered number: 04721969)

Group Strategic Report
for the Year Ended 31 March 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Group operates within the leisure industry and as such sales can be affected by adverse political and economic conditions; consumers' costs of holidaying abroad and levels of disposable income. Some elements of these risks may become less critical in the coming year due to movements in exchange rates. The Directors are constantly striving to stay ahead of developments within the industry that may affect trade to ensure they optimise all the opportunities available to them.

Liquidity risk
The objective of the Group in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The Group expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the Group has credit facilities available.

Brexit
Following the end of the Brexit transition period, the full impact on the UK remains uncertain. The Group continues to focus on and explore international sales and market opportunities. Brexit will likely have a direct impact on the export sales market from exchange fluctuations and new regulations. The Group is currently seeing the impact of Brexit uncertainty on its supply chain with two of its van suppliers having downsized production due to movements in exchange rates affecting their costs. Within the Groups control, significant productive steps have been taken to ensure relationships with suppliers remain strong.

War in Ukraine
The Russian invasion of Ukraine has impacted the Group in terms of parts available to manufactures. There is a global shortage of certain parts for caravans and more specifically motorhomes. This limits supply and lead times, however the affect of this on the group is minimised by diversifying stock.

Supply chain disruption
Due to the impact from COVID-19 there had been a downturn of the supply of new stock available. The Group maintained strong relationships with its suppliers and took the opportunity to actively looked at new supplier lines. A new supplier, Adria has been sourced and is available across the Group.The Group have further expanded their supplier range with New Motorhomes now being available at the Oxford site.

Customer credit exposure
The group may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The group is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by the strong on-going customer relationships and by credit insurance.

Interest rates
During the year there has been a rise in UK bank interest rates. The Group is shielded from the impact of this due to the fact that there are no bank borrowings across the Group. Interest charges can be incurred from stock purchases, however the Group has a practice of settling outstanding amounts before this occurrence. Higher rates of interest will impact the Group as Customers purchasing on credit terms via a lender will face higher charges. The Group will attempt to mitigate against this by maintaining their competitive pricing.

ON BEHALF OF THE BOARD:





G R Collister - Director


28 November 2024

Swindon Caravan Centre Limited (Registered number: 04721969)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the retail sale, hire of and repair of caravans and motorhomes.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 was £168,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

G R Collister
Mrs J Collister
T R Collister

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





G R Collister - Director


28 November 2024

Report of the Independent Auditors to the Members of
Swindon Caravan Centre Limited

Opinion
We have audited the financial statements of Swindon Caravan Centre Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Swindon Caravan Centre Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements through discussion with the management (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation.

We considered the extent of compliance with those laws and regulations as part of our procedures relating to items on the financial statements..

We communicated and identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements that are made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed, and the further removed that non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Walsh (Senior Statutory Auditor)
for and on behalf of Langham Walsh Limitied - Statutory Auditor
Blythe Valley Innovation Centre
Central Boluevard
Blythe Valley Park
Solihull
West Midlands
B90 8AJ

28 November 2024

Swindon Caravan Centre Limited (Registered number: 04721969)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 3 22,727,404 24,112,417

Cost of sales 20,495,780 20,923,465
GROSS PROFIT 2,231,624 3,188,952

Administrative expenses 1,440,903 1,565,590
790,721 1,623,362

Other operating income 73,065 151,625
OPERATING PROFIT 863,786 1,774,987

Interest receivable and similar income 80,637 24,460
944,423 1,799,447

Interest payable and similar expenses 6 432 906
PROFIT BEFORE TAXATION 7 943,991 1,798,541

Tax on profit 8 241,214 359,023
PROFIT FOR THE FINANCIAL YEAR 702,777 1,439,518

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

702,777

1,439,518

Profit attributable to:
Owners of the parent 702,777 1,439,518

Total comprehensive income attributable to:
Owners of the parent 702,777 1,439,518

Swindon Caravan Centre Limited (Registered number: 04721969)

Consolidated Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 3 60,627
Tangible assets 12 704,948 721,688
Investments 13 - -
Investment property 14 1,285,695 459,238
1,990,646 1,241,553

CURRENT ASSETS
Stocks 15 9,378,724 7,956,920
Debtors 16 127,926 148,505
Cash at bank 1,925,223 2,641,663
11,431,873 10,747,088
CREDITORS
Amounts falling due within one year 17 7,079,594 6,199,373
NET CURRENT ASSETS 4,352,279 4,547,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,342,925

5,789,268

PROVISIONS FOR LIABILITIES 22 (49,994 ) (41,268 )

ACCRUALS AND DEFERRED INCOME 23 (43,891 ) (33,737 )
NET ASSETS 6,249,040 5,714,263

CAPITAL AND RESERVES
Called up share capital 24 100 100
Retained earnings 25 6,248,940 5,714,163
SHAREHOLDERS' FUNDS 6,249,040 5,714,263

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





G R Collister - Director


Swindon Caravan Centre Limited (Registered number: 04721969)

Company Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 1 1
Tangible assets 12 241,521 272,159
Investments 13 2,183,704 2,183,704
Investment property 14 1,285,695 459,238
3,710,921 2,915,102

CURRENT ASSETS
Stocks 15 5,143,371 4,062,772
Debtors 16 73,437 536,677
Cash at bank 304,864 806,221
5,521,672 5,405,670
CREDITORS
Amounts falling due within one year 17 4,368,115 3,621,445
NET CURRENT ASSETS 1,153,557 1,784,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,864,478

4,699,327

PROVISIONS FOR LIABILITIES 22 (40,122 ) (34,881 )

ACCRUALS AND DEFERRED INCOME 23 (31,338 ) (19,288 )
NET ASSETS 4,793,018 4,645,158

CAPITAL AND RESERVES
Called up share capital 24 100 100
Retained earnings 25 4,792,918 4,645,058
SHAREHOLDERS' FUNDS 4,793,018 4,645,158

Company's profit for the financial year 315,860 517,290

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





G R Collister - Director


Swindon Caravan Centre Limited (Registered number: 04721969)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 4,442,645 4,442,745

Changes in equity
Dividends - (168,000 ) (168,000 )
Total comprehensive income - 1,439,518 1,439,518
Balance at 31 March 2023 100 5,714,163 5,714,263

Changes in equity
Dividends - (168,000 ) (168,000 )
Total comprehensive income - 702,777 702,777
Balance at 31 March 2024 100 6,248,940 6,249,040

Swindon Caravan Centre Limited (Registered number: 04721969)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 4,295,768 4,295,868

Changes in equity
Dividends - (168,000 ) (168,000 )
Total comprehensive income - 517,290 517,290
Balance at 31 March 2023 100 4,645,058 4,645,158

Changes in equity
Dividends - (168,000 ) (168,000 )
Total comprehensive income - 315,860 315,860
Balance at 31 March 2024 100 4,792,918 4,793,018

Swindon Caravan Centre Limited (Registered number: 04721969)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 487,588 299,299
Interest paid (432 ) (906 )
Tax paid (314,352 ) (511,602 )
Net cash from operating activities 172,804 (213,209 )

Cash flows from investing activities
Purchase of tangible fixed assets (66,577 ) (81,871 )
Purchase of investment property (826,457 ) (459,238 )
Sale of tangible fixed assets 4,950 3,350
Interest received 80,637 24,460
Net cash from investing activities (807,447 ) (513,299 )

Cash flows from financing activities
Amount introduced by directors 91,120 54,370
Contributed/(withdrawn) by directors - (1 )
Equity dividends paid (168,000 ) (168,000 )
Net cash from financing activities (76,880 ) (113,631 )

Decrease in cash and cash equivalents (711,523 ) (840,139 )
Cash and cash equivalents at beginning
of year

2

2,631,787

3,471,926

Cash and cash equivalents at end of year 2 1,920,264 2,631,787

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 943,991 1,798,541
Depreciation charges 139,619 140,068
Profit on disposal of fixed assets (628 ) -
Finance costs 432 906
Finance income (80,637 ) (24,460 )
1,002,777 1,915,055
Increase in stocks (1,421,804 ) (1,556,145 )
Decrease in trade and other debtors 20,579 62,484
Increase/(decrease) in trade and other creditors 886,036 (122,095 )
Cash generated from operations 487,588 299,299

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,925,223 2,641,663
Bank overdrafts (4,959 ) (9,876 )
1,920,264 2,631,787
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,641,663 3,517,135
Bank overdrafts (9,876 ) (45,209 )
2,631,787 3,471,926


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 2,641,663 (716,440 ) 1,925,223
Bank overdrafts (9,876 ) 4,917 (4,959 )
2,631,787 (711,523 ) 1,920,264
Total 2,631,787 (711,523 ) 1,920,264

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Swindon Caravan Centre 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements consolidate the financial statements of Swindon Caravan Centre Limited
and all its subsidiary undertakings drawn up to 31 March each year.

The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Profit and Loss Account in these financial statements.

The parent company's profit for the year prior to dividends was £315,860 (2023: £517,290).

The individual accounts of Swindon Caravan Centre Limited have also adopted the following disclosure
exemptions:
- the requirement to present a statement of cash flows and related notes
- financial instrument disclosures, including:
categories of financial instruments,
items of income, expenses, gains or losses relating to financial instruments,
and
exposure to and management of financial risks

Going concern

After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods, servicing and repairs excluding value added tax. Income from the sale of caravans and motorhomes is recognised when full payment has been received and all risks and rewards transferred.
Income from servicing and repairs is recognised in the period in which the services are provided.

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 and 10 years. The reason for choosing this period is based on the useful lives of the individual subsidiaries. Provisions are made for any impairment.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance
Short leasehold - 4% on cost and Straight line over 13 years
Long leasehold - 7% on cost, 4% on cost and Straight line over 13 years
Plant and machinery - 20% on cost and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance, 20% on cost and 10% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on cost
Computer equipment - 33% on reducing balance

Tangible fixed assets are recognised at cost less accumulated depreciation and accumulated impairment losses.
The cost of Land is not depreciated.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recongnised in the profit and loss.

Stocks
Stocks are stated at the lower of cost and net realisable value. Consignment Stock in respect of which finance charges are levied are regarded as being effectively under the control of the company and, in accordance with FRS 102 are included in stocks even though legal title has not passed. The corresponding liability is included in creditors. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the cost of realisation. Provision is made where necessary for obsolete, slow moving and defective stock.

Financial instruments
Financial assets and financial liabilities are recognised when the group entity becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value.

Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables (including trade and other receivables, and bank balances and cash) are measured at amortised cost using the effective interest method, less any impairment.

Other financial liabilities
Other financial liabilities including borrowings and trade payables are subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases.

Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the group recognises annual rent expense equal to amounts owed to the lessor.

The aggregate benefit of lease incentives are recognised as a reduction to the expense
recognised over the lease term on a straight line basis.

Pension costs and other post-retirement benefits
The group has a defined contribution pension scheme. Contributions payable to the group's pension
scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

31.3.24 31.3.23
£    £   
Sale of goods 21,429,174 22,832,796
Rendering of services 1,271,646 1,269,142
Other 26,584 10,479
22,727,404 24,112,417

An analysis of turnover by geographical market is given below:

31.3.24 31.3.23
£    £   
United Kingdom 22,623,197 23,875,310
Rest of the World 104,207 237,107
22,727,404 24,112,417

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS

31.03.24 31.03.23
£    £   
Wages and salaries 1,883,405 1,932,532
Social security costs 178,738 194,337
Other pension costs 66,118 65,848
2,128,261 2,192,717


The average monthly number of employees during the year was as follows:

31.03.24 31.03.23

Swindon Caravan Centre 34 35
Oxford Caravan Centre 18 17
The Reading Caravan Centre 13 14
65 66

Information regarding the highest paid director is as follows:

31.03.24 31.03.23

Emoluments etc N/A 217,918

5. DIRECTORS' EMOLUMENTS
31.3.24 31.3.23
£    £   
Directors' remuneration 160,146 240,968

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Finance interest 432 906

7. PROFIT BEFORE TAXATION

The operating profit is stated after charging:
31.3.24 31.3.23
£    £   
Other operating leases 200,589 197,596
Depreciation - owned assets 78,995 79,444
Profit on disposal of fixed assets 628 -
Goodwill amortisation 60,623 60,624
Auditors' remuneration for auditing of accounts 25,000 24,000

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 232,488 357,022

Deferred tax 8,726 2,001
Tax on profit 241,214 359,023

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit before tax 943,991 1,798,541
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

235,998

341,723

Effects of:
Expenses not deductible for tax purposes 832 657
Capital allowances in excess of depreciation (8,670 ) -
Depreciation in excess of capital allowances - 16,643
Adjustments to tax charge in respect of previous periods 13,054 -


Total tax charge 241,214 359,023

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
31.3.24 31.3.23
£    £   
Ordinary shares of £1 each
Interim 168,000 168,000

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,635,567
AMORTISATION
At 1 April 2023 1,574,940
Amortisation for year 60,624
At 31 March 2024 1,635,564
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 60,627

Company
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 311,600
AMORTISATION
At 1 April 2023
and 31 March 2024 311,599
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

12. TANGIBLE FIXED ASSETS

Group
Freehold Short Long Plant and
property leasehold leasehold machinery
£    £    £    £   
COST
At 1 April 2023 558,720 347,893 209,647 105,308
Additions 6,969 53,884 - 310
Disposals - - - -
At 31 March 2024 565,689 401,777 209,647 105,618
DEPRECIATION
At 1 April 2023 230,326 261,049 108,970 79,720
Charge for year 6,708 31,036 8,104 4,846
Eliminated on disposal - - - -
At 31 March 2024 237,034 292,085 117,074 84,566
NET BOOK VALUE
At 31 March 2024 328,655 109,692 92,573 21,052
At 31 March 2023 328,394 86,844 100,677 25,588

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 296,908 115,330 42,505 1,676,311
Additions 4,321 - 1,093 66,577
Disposals (8,521 ) - - (8,521 )
At 31 March 2024 292,708 115,330 43,598 1,734,367
DEPRECIATION
At 1 April 2023 165,483 69,265 39,810 954,623
Charge for year 15,536 11,516 1,249 78,995
Eliminated on disposal (4,199 ) - - (4,199 )
At 31 March 2024 176,820 80,781 41,059 1,029,419
NET BOOK VALUE
At 31 March 2024 115,888 34,549 2,539 704,948
At 31 March 2023 131,425 46,065 2,695 721,688

.

Company
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 202,592 80,248 213,607
Additions - - 4,321
Disposals - - (8,521 )
At 31 March 2024 202,592 80,248 209,407
DEPRECIATION
At 1 April 2023 101,915 59,965 93,721
Charge for year 8,104 3,043 12,180
Eliminated on disposal - - (4,199 )
At 31 March 2024 110,019 63,008 101,702
NET BOOK VALUE
At 31 March 2024 92,573 17,240 107,705
At 31 March 2023 100,677 20,283 119,886

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

12. TANGIBLE FIXED ASSETS - continued

Company

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 55,057 42,505 594,009
Additions - 1,093 5,414
Disposals - - (8,521 )
At 31 March 2024 55,057 43,598 590,902
DEPRECIATION
At 1 April 2023 26,439 39,810 321,850
Charge for year 7,154 1,249 31,730
Eliminated on disposal - - (4,199 )
At 31 March 2024 33,593 41,059 349,381
NET BOOK VALUE
At 31 March 2024 21,464 2,539 241,521
At 31 March 2023 28,618 2,695 272,159


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 2,183,704
NET BOOK VALUE
At 31 March 2024 2,183,704
At 31 March 2023 2,183,704

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Centre Holdings Limited
Registered office: Oxford Road, Tiddington, Thame, Oxon, OX9 2LH
Nature of business: Holding Company
%
Class of shares: holding
£1 Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 16,000 16,000

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

13. FIXED ASSET INVESTMENTS - continued

Oxford Caravan Centre Limited
Registered office: Oxford Road, Tiddington, Thame, Oxon, OX9 2LH
Nature of business: Retail Caravan sales
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 2,506,302 2,254,127
Profit for the year 252,175 619,607

The Reading Caravan Company
Registered office: 16a Church Lane, Three Miles Cross, Reading, Berkshire, RG7 1HB
Nature of business: Retail Caravan Sales
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 1,118,421 923,052
Profit for the year 195,369 363,245


14. INVESTMENT PROPERTY

In September 2022 the Company purchased Land for £457,448. There have been £1,790 spent on fees
and £826,457 spent on the build of a Property. At the year end there is a further £41,494 capital commitment.
The Directors assessment of fair value as at the reporting date shows no change in value.

Company
Total
£   
FAIR VALUE
At 1 April 2023 459,238
Additions 826,457
At 31 March 2024 1,285,695
NET BOOK VALUE
At 31 March 2024 1,285,695
At 31 March 2023 459,238

15. STOCKS

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Goods for resale 9,378,724 7,956,920 5,143,371 4,062,772

Certain caravans purchased are pledged as security until the the full creditor balance for these caravans has been cleared with suppliers. At the year-end the outstanding VAT exclusive balance included items of £2,536,613 (2023: £2,002,923) subject to this security for Swindon Caravan Centre Limited. At the year-end the outstanding VAT exclusive balance included items of £4,697,141 (2023: £3,864,242) subject to this security for Swindon Caravan Centre Group.

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Trade debtors 46,692 56,456 17,253 35,922
Amounts owed by group undertakings - - - 441,979
Tax - - 22,912 -
VAT - - - 13,112
Prepayments 81,234 92,049 33,272 45,664
127,926 148,505 73,437 536,677

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Bank loans and overdrafts (see note 18) 4,959 9,876 2,507 7,890
Trade creditors 5,855,912 4,923,662 3,142,320 2,549,690
Amounts owed to group undertakings - - 551,862 416,991
Tax 138,284 220,148 - 52,193
Social security and other taxes 37,310 43,194 20,333 23,318
VAT 124,029 92,200 34,061 -
Other creditors 474,439 451,124 233,896 193,794
Directors' loan accounts 254,519 163,399 254,519 163,399
Accruals and deferred income 33,478 24,645 22,054 14,312
Accrued expenses 156,664 271,125 106,563 199,858
7,079,594 6,199,373 4,368,115 3,621,445

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4,959 9,876 2,507 7,890

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

The operating lease commitment of the Company is on a rolling contract with no defined term.

Minimum Lease payments for operating leases from the Group
31.03.24 31.03.23
£    £   
Within one year 69,367 65,622
Between one and five years 240,092 249,356
In more than five years 109,720 143,920
419,179 458,898

20. SECURED DEBTS

A cross guarantee between Centre Holdings Limited, Oxford Caravan Centre Limited, The Reading Caravan Centre Limited and Swindon Caravan Centre Limited exists with Barclays Bank PLC.

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

21. FINANCIAL INSTRUMENTS

Group Company
31.03.24 31.03.23 31.03.24 31.03.23
£    £    £    £   
Financial assets that are debt instruments
measured at amortised cost

1,971,915

2,698,119

322,117

842,141
Financial liabilities measured at amortised
cost

6,779,972

5,849,597

3,761,859

3,134,706


22. PROVISIONS FOR LIABILITIES

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Deferred tax
Accelerated capital allowances 49,994 41,268 40,122 34,881

Group
Deferred
tax
£   
Balance at 1 April 2023 41,268
Accelerated Capital Allowances 8,726
Balance at 31 March 2024 49,994

Company
Deferred
tax
£   
Balance at 1 April 2023 34,881
Provided during year 5,241
Balance at 31 March 2024 40,122

23. ACCRUALS AND DEFERRED INCOME

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Accruals and deferred income 43,891 33,737 31,338 19,288

24. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

Swindon Caravan Centre Limited (Registered number: 04721969)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

25. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 5,714,163
Profit for the year 702,777
Dividends (168,000 )
At 31 March 2024 6,248,940

Company
Retained
earnings
£   

At 1 April 2023 4,645,058
Profit for the year 315,860
Dividends (168,000 )
At 31 March 2024 4,792,918


26. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements 41,494 867,640

27. RELATED PARTY DISCLOSURES

During the year the Directors received £168,000 (2023: £168,000) in dividend payments.

During the year, a total of key management personnel compensation of £ 292,433 (2023 - £ 391,645 ) was paid.