2024-03-012025-02-282025-02-28false11836895GB CARAVANS 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GB CARAVANS LTD

Registered Number
11836895
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

GB CARAVANS LTD
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors

HOBBS, Damian Mark
HOBBS, Victoria Emma

Registered Address

Building 2a, D Site Kemble Airfield
Kemble
Cirencester
GL7 6BA

Registered Number

11836895 (England and Wales)
GB CARAVANS LTD
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets357,56748,420
57,56748,420
Current assets
Stocks1,40014,250
Debtors29,88766,913
Cash at bank and on hand26,55141,765
57,838122,928
Creditors amounts falling due within one year(41,645)(79,379)
Net current assets (liabilities)16,19343,549
Total assets less current liabilities73,76091,969
Creditors amounts falling due after one year(73,607)(77,702)
Net assets15314,267
Capital and reserves
Called up share capital102102
Profit and loss account5114,165
Shareholders' funds15314,267
The financial statements were approved and authorised for issue by the Board of Directors on 1 April 2025, and are signed on its behalf by:
HOBBS, Damian Mark
Director
Registered Company No. 11836895
GB CARAVANS LTD
Notes to the Financial Statements
for the year ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 2474,231
Additions45,416
Disposals(35,951)
At 28 February 2583,696
Depreciation and impairment
At 01 March 2425,811
Charge for year16,047
On disposals(15,729)
At 28 February 2526,129
Net book value
At 28 February 2557,567
At 29 February 2448,420
4.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts45,46843,365