Navigate Campers Limited SC695374 false 2023-05-01 2024-05-31 2024-05-31 The principal activity of the company is the rental of motor homes. Digita Accounts Production Advanced 6.30.9574.0 true true SC695374 2023-05-01 2024-05-31 SC695374 2024-05-31 SC695374 core:CurrentFinancialInstruments 2024-05-31 SC695374 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC695374 core:MotorVehicles 2024-05-31 SC695374 bus:SmallEntities 2023-05-01 2024-05-31 SC695374 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-05-31 SC695374 bus:FilletedAccounts 2023-05-01 2024-05-31 SC695374 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-05-31 SC695374 bus:RegisteredOffice 2023-05-01 2024-05-31 SC695374 bus:Director1 2023-05-01 2024-05-31 SC695374 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-05-31 SC695374 core:MotorVehicles 2023-05-01 2024-05-31 SC695374 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-05-31 SC695374 countries:Scotland 2023-05-01 2024-05-31 SC695374 2023-04-30 SC695374 core:MotorVehicles 2023-04-30 SC695374 2022-05-01 2023-04-30 SC695374 2023-04-30 SC695374 core:CurrentFinancialInstruments 2023-04-30 SC695374 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC695374 core:MotorVehicles 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC695374

Navigate Campers Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 May 2023 to 31 May 2024

 

Navigate Campers Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Navigate Campers Limited

Company Information

Director

Mr B Keenan

Registered office

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Navigate Campers Limited

(Registration number: SC695374)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

28,962

Current assets

 

Stocks

5

-

3,200

Debtors

6

4,932

716

Cash at bank and in hand

 

62

2,585

 

4,994

6,501

Prepayments and accrued income

 

-

1,128

Creditors: Amounts falling due within one year

(10,647)

(30,224)

Net current liabilities

 

(5,653)

(22,595)

Net (liabilities)/assets

 

(5,653)

6,367

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(5,654)

6,366

Shareholders' (deficit)/funds

 

(5,653)

6,367

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 January 2025
 

.........................................
Mr B Keenan
Director

 

Navigate Campers Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

The principal place of business is:
Unit 22A
Carmondean Business Units
Livingston
West Lothian
EH54 8TD

These financial statements were authorised for issue by the director on 6 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The director has concluded that the company is not a going concern and, as disclosed within the basis of preparation accounting policy above, the financial statement have been prepared on a basis other than the going concern basis as the company ceased trading on 31 May 2024.

Revenue recognition

Turnover comprises the fair value of the consideration derived from the rental of motor homes. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Navigate Campers Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 May 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

Reducing balance, 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Navigate Campers Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Navigate Campers Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 May 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

43,321

43,321

Disposals

(43,321)

(43,321)

At 31 May 2024

-

-

Depreciation

At 1 May 2023

14,359

14,359

Eliminated on disposal

(14,359)

(14,359)

At 31 May 2024

-

-

Carrying amount

At 31 May 2024

-

-

At 30 April 2023

28,962

28,962

5

Stocks

2024
£

2023
£

Stock

-

3,200

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

Navigate Campers Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 May 2024

8

Related party transactions

Summary of transactions with key management

The company operates a loan account with the director, Mr B Keenan.
During the year, the company advanced loans totalling £33,763 to the director. At the year end, the balance due from the director was £4,455 (2023 - £29,308 due to the director). This loan is unsecured, interest free and has no fixed repayment terms.