Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Jan Berg 15/06/2021 Rena Shahmaliyeva-Berg 15/06/2021 Kamran Zeynalov 15/06/2021 21 January 2025 The principal activity of the Company during the financial period was the rental of motorhomes. SC701663 2024-06-30 SC701663 bus:Director1 2024-06-30 SC701663 bus:Director2 2024-06-30 SC701663 bus:Director3 2024-06-30 SC701663 2023-06-30 SC701663 core:CurrentFinancialInstruments 2024-06-30 SC701663 core:CurrentFinancialInstruments 2023-06-30 SC701663 core:Non-currentFinancialInstruments 2024-06-30 SC701663 core:Non-currentFinancialInstruments 2023-06-30 SC701663 core:ShareCapital 2024-06-30 SC701663 core:ShareCapital 2023-06-30 SC701663 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC701663 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC701663 core:PlantMachinery 2023-06-30 SC701663 core:Vehicles 2023-06-30 SC701663 core:FurnitureFittings 2023-06-30 SC701663 core:ComputerEquipment 2023-06-30 SC701663 core:PlantMachinery 2024-06-30 SC701663 core:Vehicles 2024-06-30 SC701663 core:FurnitureFittings 2024-06-30 SC701663 core:ComputerEquipment 2024-06-30 SC701663 bus:OrdinaryShareClass1 2024-06-30 SC701663 bus:OrdinaryShareClass2 2024-06-30 SC701663 2023-07-01 2024-06-30 SC701663 bus:FilletedAccounts 2023-07-01 2024-06-30 SC701663 bus:SmallEntities 2023-07-01 2024-06-30 SC701663 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC701663 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC701663 bus:Director1 2023-07-01 2024-06-30 SC701663 bus:Director2 2023-07-01 2024-06-30 SC701663 bus:Director3 2023-07-01 2024-06-30 SC701663 core:PlantMachinery 2023-07-01 2024-06-30 SC701663 core:Vehicles 2023-07-01 2024-06-30 SC701663 core:FurnitureFittings 2023-07-01 2024-06-30 SC701663 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 SC701663 2022-07-01 2023-06-30 SC701663 core:ComputerEquipment 2023-07-01 2024-06-30 SC701663 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 SC701663 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 SC701663 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC701663 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC701663 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 SC701663 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC701663 (Scotland)

JRK MOTORHOMES LIMITED

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

JRK MOTORHOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

JRK MOTORHOMES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
JRK MOTORHOMES LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 155,636 183,737
155,636 183,737
Current assets
Debtors 4 21,188 13,183
Cash at bank and in hand 0 12,054
21,188 25,237
Creditors: amounts falling due within one year 5 ( 188,721) ( 179,429)
Net current liabilities (167,533) (154,192)
Total assets less current liabilities (11,897) 29,545
Creditors: amounts falling due after more than one year 6 ( 51,725) ( 65,478)
Net liabilities ( 63,622) ( 35,933)
Capital and reserves
Called-up share capital 7 300 300
Profit and loss account ( 63,922 ) ( 36,233 )
Total shareholders' deficit ( 63,622) ( 35,933)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of JRK Motorhomes Limited (registered number: SC701663) were approved and authorised for issue by the Board of Directors on 21 January 2025. They were signed on its behalf by:

Jan Berg
Director
JRK MOTORHOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
JRK MOTORHOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

JRK Motorhomes 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 5 Moor Place, Portlethen, Aberdeen, AB12 4TF, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 note that the business has net liabilities of £63,622. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. They have also taken measures post year end to reduce costs and improve the profitability of the business. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the fair value of consideration received or receivable for the rental of motorhomes in the normal course of business. Turnover is recognised on an accruals basis, determined by the period covered by each rental.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 15 % reducing balance
Fixtures and fittings 20 % reducing balance
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.

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.

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.

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 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).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

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, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

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

Ordinary share capital

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 0 221,090 5,641 2,664 229,395
Additions 400 0 0 0 400
At 30 June 2024 400 221,090 5,641 2,664 229,795
Accumulated depreciation
At 01 July 2023 0 42,643 1,711 1,304 45,658
Charge for the financial year 60 26,767 786 888 28,501
At 30 June 2024 60 69,410 2,497 2,192 74,159
Net book value
At 30 June 2024 340 151,680 3,144 472 155,636
At 30 June 2023 0 178,447 3,930 1,360 183,737

4. Debtors

2024 2023
£ £
Deferred tax asset 20,408 11,623
Other debtors 780 1,560
21,188 13,183

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 9,242 0
Trade creditors 94 90
Obligations under finance leases and hire purchase contracts (secured) 14,666 12,057
Other creditors 164,719 167,282
188,721 179,429

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 51,725 65,478

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200 A ordinary shares of £ 1.00 each 200 200
100 B ordinary shares of £ 1.00 each 100 100
300 300

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts repayable to directors 160,552 163,001

No interest is charged on amounts repayable to directors, nor are there any fixed repayment terms.