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Company registration number: 00482349







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024


LEE DAVEY CARAVANS LIMITED






































img4da2.png                        

 


LEE DAVEY CARAVANS LIMITED
 


 
COMPANY INFORMATION


Directors
R.F. Tolhurst 
A.M. Burgess 
K.N. Abrehart 
O.M. Tolhurst 




Company secretary
A.M. Burgess



Registered number
00482349



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Independent auditor
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY




Bankers
Barclays Bank Plc
1 Churchill Place

London

E14 5HP





 


LEE DAVEY CARAVANS LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 7


 


LEE DAVEY CARAVANS LIMITED
REGISTERED NUMBER:00482349



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,098,616
1,249,287

  
1,098,616
1,249,287

Current assets
  

Stocks
  
2,104,204
1,912,170

Debtors: amounts falling due within one year
 5 
163,400
213,803

Cash at bank and in hand
  
22,299
231,961

  
2,289,903
2,357,934

Creditors: amounts falling due within one year
 6 
(1,269,069)
(1,285,043)

Net current assets
  
 
 
1,020,834
 
 
1,072,891

Total assets less current liabilities
  
2,119,450
2,322,178

Provisions for liabilities
  

Deferred tax
  
(24,186)
(26,988)

  
 
 
(24,186)
 
 
(26,988)

Net assets
  
2,095,264
2,295,190


Capital and reserves
  

Allotted, called up and fully paid share capital
  
10,000
10,000

Revaluation reserve
  
795,588
933,836

Profit and loss account
  
1,289,676
1,351,354

  
2,095,264
2,295,190


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 income and retained earnings 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: 


................................................
K.N. Abrehart
................................................
A.M. Burgess
Director
Director


Date: 18 March 2025
Date:18 March 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Lee Davey Caravans Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the Company information page. The principal place of business is East Street, Harrietsham, Maidstone, Kent, ME17 1HN.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Revenue

Revenue is recognised through the sale of new and used caravans, caravan servicing and a small leisure shop providing caravan and camping equipment. Revenue is recognised to the extent 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:

  
2.3

Exemption from consolidation

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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 reporting 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 reporting 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 reporting 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, per below.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
on cost
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
10%
on cost
Computer equipment
-
25%
on cost


Individual freehold and leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
Page 3

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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.

  
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 20).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 September 2023
1,188,248
74,678
48,212
65,377
27,262


Revaluations
(138,248)
-
-
-
-



At 31 August 2024

1,050,000
74,678
48,212
65,377
27,262



Depreciation


At 1 September 2023
-
55,911
28,215
45,919
24,445


Charge for the year on owned assets
-
3,752
4,999
2,519
1,153



At 31 August 2024

-
59,663
33,214
48,438
25,598



Net book value



At 31 August 2024
1,050,000
15,015
14,998
16,939
1,664



At 31 August 2023
1,188,248
18,767
19,997
19,458
2,817
Page 4

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 September 2023
1,403,777


Revaluations
(138,248)



At 31 August 2024

1,265,529



Depreciation


At 1 September 2023
154,490


Charge for the year on owned assets
12,423



At 31 August 2024

166,913



Net book value



At 31 August 2024
1,098,616



At 31 August 2023
1,249,287

The freehold land and buildings were valued at £1,050,000 on 31 August 2024 by external valuers, Lambert Smith Hampton in accordance with the RICS Red Book Global standards, on an open market for existing use basis. The directors have adopted this valuation for the year ended 31 August 2024.
There is a fixed charge over the freehold land and buildings in place as at the balance sheet date.  

Page 5

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

           4.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
192,423
192,423

Accumulated depreciation
(89,337)
(85,489)

Net book value
103,086
106,934


5.


Debtors

2024
2023
£
£


Trade debtors
68,103
53,685

Amounts owed by associated companies
114
140,112

Prepayments and accrued income
95,183
20,006

163,400
213,803



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,111,904
1,050,540

Amounts owed to associated companies
5,879
5,825

Corporation tax
26,834
111,815

Other taxation and social security
77,488
63,356

Other creditors
25,105
26,286

Accruals and deferred income
21,859
27,221

1,269,069
1,285,043



7.


Contingencies

The Company has provided Barclays Bank Plc with a standard debenture and there is an unlimited guarantee to secure their bank borrowings provided by its parent company, Freightflow International Limited. The Company has also pledged to Barclays Bank Plc the freehold property on Ashford Road, Harrietsham, Kent, ME17 1HN as  security for their bank borrowings.

Page 6

 


LEE DAVEY CARAVANS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Related party transactions

The Company has taken advantage of the exemptions provided by Section 33 of FRS 102 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is a wholly owned member of that group.


9.


Controlling party

The Company is a wholly owned subsidiary undertaking of Freightflow International Limited, a company registered in England and Wales. The financial statements of Freightflow International Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 18 March 2025 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 7