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REGISTERED NUMBER: 10225831 (England and Wales)






















Innovative Camper Solutions Limited

Unaudited Financial Statements for the Year Ended 30th June 2024






Innovative Camper Solutions Limited (Registered number: 10225831)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Innovative Camper Solutions Limited

Company Information
for the year ended 30th June 2024







DIRECTORS: N R Wrightson
M Hearst





REGISTERED OFFICE: 24 Hawthorne Avenue
Willerby
Hull
HU10 6JQ





REGISTERED NUMBER: 10225831 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Innovative Camper Solutions Limited (Registered number: 10225831)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,402 3,651

CURRENT ASSETS
Stocks 107,774 65,276
Debtors 5 25,272 25,344
Cash at bank 63,875 72,136
196,921 162,756
CREDITORS
Amounts falling due within one year 6 30,073 33,804
NET CURRENT ASSETS 166,848 128,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,250

132,603

CREDITORS
Amounts falling due after more than one
year

7

(34,704

)

(16,100

)

PROVISIONS FOR LIABILITIES (11,601 ) (913 )
NET ASSETS 166,945 115,590

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 166,939 115,584
SHAREHOLDERS' FUNDS 166,945 115,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Innovative Camper Solutions Limited (Registered number: 10225831)

Balance Sheet - continued
30th June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2025 and were signed on its behalf by:




M Hearst - Director



N R Wrightson - Director


Innovative Camper Solutions Limited (Registered number: 10225831)

Notes to the Financial Statements
for the year ended 30th June 2024

1. STATUTORY INFORMATION

Innovative Camper Solutions 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 Company Information page. The principal place of business is Unit 7 Hytec Business Park, Hytec Way, Brough, HU15 1YS.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery10%-50% straight line
Office equipment20% reducing balance
Motor vehicles25% reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Innovative Camper Solutions Limited (Registered number: 10225831)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

Classification of financial liabilities
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 liabilities
Basic financial liabilities, including creditors and loans are recognised at transaction price.

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. Trade creditors are recognised at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

Cash at bank and in hand
Cash at bank and in hand 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.

Innovative Camper Solutions Limited (Registered number: 10225831)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1st July 2023 10,746 865 - 11,611
Additions - - 49,185 49,185
At 30th June 2024 10,746 865 49,185 60,796
DEPRECIATION
At 1st July 2023 7,553 407 - 7,960
Charge for year 969 92 5,373 6,434
At 30th June 2024 8,522 499 5,373 14,394
NET BOOK VALUE
At 30th June 2024 2,224 366 43,812 46,402
At 30th June 2023 3,193 458 - 3,651

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,693 4,236
Other debtors 2,579 21,108
25,272 25,344

Innovative Camper Solutions Limited (Registered number: 10225831)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,400 8,400
Hire purchase contracts 3,390 -
Trade creditors 464 3,681
Taxation and social security 6,169 20,203
Other creditors 11,650 1,520
30,073 33,804

In the 2021 year end the company obtained finance through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.

Hire purchase contracts relates to a hire purchase contract which is secured over the asset held under the agreement.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,700 16,100
Hire purchase contracts 27,004 -
34,704 16,100

In the 2021 year end the company obtained finance through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.

Hire purchase contracts relates to a hire purchase contract which is secured over the asset held under the agreement.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6 Ordinary 1 6 6

9. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 44,983