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REGISTERED NUMBER: 04344713 (England and Wales)













Financial Statements

for the Year Ended 30 November 2024

for

Torksey Caravans Limited

Torksey Caravans Limited (Registered number: 04344713)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Torksey Caravans Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr A Parkes
Mrs C Porter
Mr J Ogden



REGISTERED OFFICE: Lincoln Road
Torksey Lock
Torksey
LINCOLN
Lincolnshire
LN1 2EL



REGISTERED NUMBER: 04344713 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: HSBC Bank plc
221 High Street
LINCOLN
Lincolnshire
LN1 1TS

Torksey Caravans Limited (Registered number: 04344713)

Abridged Statement of Financial Position
30 November 2024

30/11/24 30/11/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 422,592 440,136

CURRENT ASSETS
Stocks 3,828,540 2,996,510
Debtors 161,714 179,291
Cash at bank and in hand 2,612,950 3,260,781
6,603,204 6,436,582
CREDITORS
Amounts falling due within one year 2,108,778 1,807,075
NET CURRENT ASSETS 4,494,426 4,629,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,917,018

5,069,643

PROVISIONS FOR LIABILITIES 41,148 41,699
NET ASSETS 4,875,870 5,027,944

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,875,869 5,027,943
SHAREHOLDERS' FUNDS 4,875,870 5,027,944

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Torksey Caravans Limited (Registered number: 04344713)

Abridged Statement of Financial Position - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





Mrs C Porter - Director


Torksey Caravans Limited (Registered number: 04344713)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Torksey Caravans 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.

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 represented by the net invoiced sales of caravans and camping accessories, excluding any value added tax, and net invoiced rental income from caravan sites.

Deferred Income
Rents received are recognised in the calendar year to which they relate. Rents received in advance are shown under creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Long leasehold - Not provided as consists of land
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

The cost of work in progress and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity.

Stocks held on consignment are recognised in the balance sheet at the lower of cost and net realisable value to the extent that the company has a right to the asset and a corresponding liability to pay for.

Torksey Caravans Limited (Registered number: 04344713)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Torksey Caravans Limited (Registered number: 04344713)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023 1,159,289
Additions 33,005
Disposals (13,810 )
At 30 November 2024 1,178,484
DEPRECIATION
At 1 December 2023 719,153
Charge for year 48,917
Eliminated on disposal (12,178 )
At 30 November 2024 755,892
NET BOOK VALUE
At 30 November 2024 422,592
At 30 November 2023 440,136

5. SECURED DEBTS

The following secured debts are included within creditors:

30/11/24 30/11/23
£    £   
Consignment stock 1,004,026 743,324

Secured debts relate to consignment stock which are all secured on the assets to which the agreements relate.

Torksey Caravans Limited (Registered number: 04344713)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. RELATED PARTY DISCLOSURES

Torksey Caravans Limited is wholly owned by PKS (UK) Limited which is part of Mrs J Parkes estate. Mr A Parkes, Mrs C Porter and Mr J Ogden are directors of both companies with Mrs J Parkes ceasing as a director.

During the year a rental charge for the caravan sites, administration buildings, workshops and showrooms has been made by PKS (UK) Limited to Torksey Caravans Limited of £325,000 (2023 - £325,000) which is considered by the directors to be equivalent to the market rate.

During the year a management charge was made by Torksey Caravans Limited to PKS (UK) Limited of £44,297 (2023 - £48,447), representing a proportion of wages and administration costs to cover expenditure incurred in managing the properties held by PKS (UK) Limited.

As at 30 November 2024 there is an amount of £44,297 (2023 - £48,447) repayable from PKS (UK) Limited.