Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseThe principal activity of the company during the year was garage and property proprietorship.22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00756989 2023-07-01 2024-06-30 00756989 2022-07-01 2023-06-30 00756989 2024-06-30 00756989 2023-06-30 00756989 c:Director1 2023-07-01 2024-06-30 00756989 d:Buildings 2024-06-30 00756989 d:Buildings 2023-06-30 00756989 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00756989 d:MotorVehicles 2024-06-30 00756989 d:MotorVehicles 2023-06-30 00756989 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00756989 d:FurnitureFittings 2023-07-01 2024-06-30 00756989 d:FurnitureFittings 2024-06-30 00756989 d:FurnitureFittings 2023-06-30 00756989 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00756989 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00756989 d:CurrentFinancialInstruments 2024-06-30 00756989 d:CurrentFinancialInstruments 2023-06-30 00756989 d:Non-currentFinancialInstruments 2024-06-30 00756989 d:Non-currentFinancialInstruments 2023-06-30 00756989 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00756989 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00756989 d:ShareCapital 2024-06-30 00756989 d:ShareCapital 2023-06-30 00756989 d:RevaluationReserve 2024-06-30 00756989 d:RevaluationReserve 2023-06-30 00756989 d:RetainedEarningsAccumulatedLosses 2024-06-30 00756989 d:RetainedEarningsAccumulatedLosses 2023-06-30 00756989 c:FRS102 2023-07-01 2024-06-30 00756989 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 00756989 c:FullAccounts 2023-07-01 2024-06-30 00756989 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00756989 6 2023-07-01 2024-06-30 00756989 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 00756989










CAMP GARAGE (COLCHESTER) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
CAMP GARAGE (COLCHESTER) LIMITED
REGISTERED NUMBER: 00756989

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,803,624
2,808,024

Investments
 5 
62,058
61,315

  
2,865,682
2,869,339

Current assets
  

Debtors
 6 
604,610
616,822

Cash at bank and in hand
  
5,069
112,857

  
609,679
729,679

Creditors: amounts falling due within one year
 7 
(153,160)
(358,590)

Net current assets
  
 
 
456,519
 
 
371,089

Total assets less current liabilities
  
3,322,201
3,240,428

Provisions for liabilities
  

Deferred tax
  
(407,232)
(408,332)

Net assets
  
2,914,969
2,832,096


Capital and reserves
  

Called up share capital 
  
2,500
2,500

Revaluation reserve
  
1,770,745
1,770,745

Profit and loss account
  
1,141,724
1,058,851

  
2,914,969
2,832,096


Page 1

 
CAMP GARAGE (COLCHESTER) LIMITED
REGISTERED NUMBER: 00756989
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr S P Tolley
Director

Date: 3 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Camp Garage (Colchester) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 00756989. Its registered office is 73 Gosbecks Road, Colchester, Essex, CO2 9JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have reviewed the future of the company and concluded that the company has sufficient net assets, net current assets and cash to allow the company to continue trading for a minimum of 12 months from the date of approval of these financial statements. The financial statements have therefore been drawn up on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The carrying value of motor vehicles is reviewed by the director with reference to the price in Glass's Motoring Guide at the end of each year. The change in carrying value is then reflected through depreciation for the year.
Investment properties are stated at market value. Surpluses are transferred to the revaluation reserve. Deficits in excess of prior revaluation surpluses are charged to the Profit and Loss Account.
No depreciation has been provided in respect of freehold investment properties. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the Director, necessary in order to give a true and fair view of the financial position of the Company. The Director believes that it is inappropriate to charge depreciation because the properties are held for their investment potential.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Dividends

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


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
2,792,524
15,765
4,886
2,813,175



At 30 June 2024

2,792,524
15,765
4,886
2,813,175



Depreciation


At 1 July 2023
-
265
4,886
5,151


Charge for the year on owned assets
-
4,400
-
4,400



At 30 June 2024

-
4,665
4,886
9,551



Net book value



At 30 June 2024
2,792,524
11,100
-
2,803,624



At 30 June 2023
2,792,524
15,500
-
2,808,024

The Company generates operating lease income by renting out property and motor vehicles.
The freehold investment properties were valued by the Directors at 30 June 2024 based upon their open market value for existing use. This valuation was made with reference to a valuation performed by Pinders Professional & Consultancy Services Ltd in 2022.
On the historical basis, investment properties would have been included at cost of £1,063,731 (2023 - £1,063,731).

Page 7

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 July 2023
61,315


Revaluations
743



At 30 June 2024
62,058





6.


Debtors

2024
2023
£
£

Due after more than one year

S455 tax recoverable
149,485
154,568

Other debtors - loan
452,367
449,667

601,852
604,235

Due within one year

Trade debtors
1,638
1,741

Other debtors
1,120
10,846

604,610
616,822


Included within other debtors due within one year is £1,043 (2023 - £10,288) which relates to a loan balance.


7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
43,750
35,564

Other creditors
104,660
318,626

Accruals and deferred income
4,750
4,400

153,160
358,590


Page 8

 
CAMP GARAGE (COLCHESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.Other financial commitments

There is a cross guarantee and debenture in place with the bank between the company and Roy H G Tolley Limited.


9.


Controlling party

The company is controlled by Mr S P Tolley by virtue of his majority shareholding.

 
Page 9