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Registration number: 11524949

Morval Caravans Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2025

 

Morval Caravans Limited

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 10

 

Morval Caravans Limited

Company Information

Directors

C Morris

L A R Westbury

Registered office

Unit B6, Salwarpe Business Park
Salwarpe Road
Droitwich
WR9 9BN

 

Morval Caravans Limited

Directors' Report for the Year Ended 31 January 2025

The directors present their report and the abridged financial statements for the year ended 31 January 2025.

Directors of the company

The directors who held office during the year were as follows:

C Morris

L A R Westbury

Principal activity

The principal activity of the company is the repair of caravan equipment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 May 2025 and signed on its behalf by:
 

.........................................
C Morris
Director

.........................................
L A R Westbury
Director

 

Morval Caravans Limited

(Registration number: 11524949)
Abridged Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

6,000

7,200

Tangible assets

5

14,845

19,613

 

20,845

26,813

Current assets

 

Stocks

6

206,000

174,500

Debtors

7

62,618

47,064

Cash at bank and in hand

 

81,722

30,259

 

350,340

251,823

Prepayments and accrued income

 

3,577

4,937

Creditors: Amounts falling due within one year

(115,298)

(78,149)

Net current assets

 

238,619

178,611

Total assets less current liabilities

 

259,464

205,424

Creditors: Amounts falling due after more than one year

(3,299)

(4,167)

Accruals and deferred income

 

(1,470)

(1,470)

Net assets

 

254,695

199,787

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

254,691

199,783

Shareholders' funds

 

254,695

199,787

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 14 May 2025 and signed on its behalf by:
 

 

Morval Caravans Limited

(Registration number: 11524949)
Abridged Balance Sheet as at 31 January 2025

.........................................
C Morris
Director

.........................................
L A R Westbury
Director

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit B6, Salwarpe Business Park
Salwarpe Road
Droitwich
WR9 9BN

These financial statements were authorised for issue by the Board on 14 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

20% straight line

Office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Total
£

Cost or valuation

At 1 February 2024

12,000

At 31 January 2025

12,000

Amortisation

At 1 February 2024

4,800

Amortisation charge

1,200

At 31 January 2025

6,000

Carrying amount

At 31 January 2025

6,000

At 31 January 2024

7,200

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2024

12,228

7,024

7,018

6,000

Additions

-

1,185

-

-

At 31 January 2025

12,228

8,209

7,018

6,000

Depreciation

At 1 February 2024

2,446

2,861

3,050

4,300

Charge for the year

2,445

905

1,403

1,200

At 31 January 2025

4,891

3,766

4,453

5,500

Carrying amount

At 31 January 2025

7,337

4,443

2,565

500

At 31 January 2024

9,782

4,163

3,968

1,700

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Total
£

Cost or valuation

At 1 February 2024

32,270

Additions

1,185

At 31 January 2025

33,455

Depreciation

At 1 February 2024

12,657

Charge for the year

5,953

At 31 January 2025

18,610

Carrying amount

At 31 January 2025

14,845

At 31 January 2024

19,613

Included within the net book value of land and buildings above is £7,337 (2024 - £9,782) in respect of short leasehold land and buildings.
 

6

Stocks

2025
£

2024
£

Finished goods and goods for resale

206,000

174,500

7

Debtors

Debtors includes £Nil (2024 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

9

Dividends

Interim dividends paid

 

Morval Caravans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

2025
£

2024
£

Interim dividend of £24,987.50 (2024 - £18,700.00) per each Ordinary

99,950

74,800

 

 

10

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

C Morris

Movement in year

9,907

74,732

(69,643)

14,997

L A R Westbury

Movement in year

8,781

68,656

(65,876)

11,562

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

25,140

25,140