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Company registration number: 03723190
(England and Wales)
SAMBECK CARAVANS LTD
Unaudited filleted financial statements
for the year ended
31 March 2025
SAMBECK CARAVANS LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
SAMBECK CARAVANS LTD
Directors and other information
Directors Mr S R Turner
Mr S P Turner
Company number 03723190
Registered office 4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
Business address Woodlands Business Park
Tenpenny Hill, Thorrington
Colchester
Essex
CO7 8JD
Accountants Griffin Chapman
4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
SAMBECK CARAVANS LTD
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of SAMBECK CARAVANS LTD
Year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SAMBECK CARAVANS LTD for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of SAMBECK CARAVANS LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SAMBECK CARAVANS LTD and state those matters that we have agreed to state to the board of directors of SAMBECK CARAVANS LTD as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAMBECK CARAVANS LTD and its board of directors as a body for our work or for this report.
It is your duty to ensure that SAMBECK CARAVANS LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAMBECK CARAVANS LTD. You consider that SAMBECK CARAVANS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of SAMBECK CARAVANS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
23 June 2025
SAMBECK CARAVANS LTD
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 262,147 293,615
Investments 6 1,005,023 1,005,023
_______ _______
1,267,170 1,298,638
Current assets
Stocks 519,947 747,706
Debtors 7 988,400 1,302,943
Cash at bank and in hand 958,076 585,153
_______ _______
2,466,423 2,635,802
Creditors: amounts falling due
within one year 8 ( 304,284) ( 362,332)
_______ _______
Net current assets 2,162,139 2,273,470
_______ _______
Total assets less current liabilities 3,429,309 3,572,108
Creditors: amounts falling due
after more than one year 9 ( 1,100,303) ( 1,316,758)
Provisions for liabilities ( 57,236) ( 64,541)
_______ _______
Net assets 2,271,770 2,190,809
_______ _______
Capital and reserves
Called up share capital 61 61
Capital redemption reserve 39 39
Profit and loss account 2,271,670 2,190,709
_______ _______
Shareholders funds 2,271,770 2,190,809
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
Mr S R Turner
Director
Company registration number: 03723190
SAMBECK CARAVANS LTD
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 & 5 The Cedars, Apex 12, Old Ipswich Road, Colchester, Essex, CO7 7QR.
The principal activity of the company continues to be that of caravan sales.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 33.3 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2024: 15 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 44,377 9,674 649,272 703,323
Additions 17,192 1,089 58,400 76,681
Disposals ( 5,465) ( 975) ( 24,365) ( 30,805)
_______ _______ _______ _______
At 31 March 2025 56,104 9,788 683,307 749,199
_______ _______ _______ _______
Depreciation
At 1 April 2024 26,538 6,064 377,106 409,708
Charge for the year 9,645 2,813 95,030 107,488
Disposals ( 5,184) ( 975) ( 23,985) ( 30,144)
_______ _______ _______ _______
At 31 March 2025 30,999 7,902 448,151 487,052
_______ _______ _______ _______
Carrying amount
At 31 March 2025 25,105 1,886 235,156 262,147
_______ _______ _______ _______
At 31 March 2024 17,839 3,610 272,166 293,615
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2024 and 31 March 2025 1,005,023 1,005,023
_______ _______
Impairment
At 1 April 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 1,005,023 1,005,023
_______ _______
At 31 March 2024 1,005,023 1,005,023
_______ _______
7. Debtors
2025 2024
£ £
Trade debtors 239,773 239,208
Amounts owed by group undertakings and undertakings in which the company has a participating interest 689,466 751,035
Other debtors 59,161 312,700
_______ _______
988,400 1,302,943
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 110,298 122,370
Trade creditors 61,244 84,377
Corporation tax 36,251 75,868
Taxation and social security 1,411 4,326
Other creditors 95,080 75,391
_______ _______
304,284 362,332
_______ _______
The bank loans are secured on land owned by Sambeck Business Park Limited, of which Sambeck Caravans Limited is a 100% shareholder.
9. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans 1,035,369 1,221,028
Other creditors 64,934 95,730
_______ _______
1,100,303 1,316,758
_______ _______
The bank loans are secured on land owned by Sambeck Business Park Limited, of which Sambeck Caravans Limited is a 100% shareholder.
Included within creditors: amounts falling due after more than one year is an amount of £ 657,914 (2024 £ 808,783 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
One business loan is due to be repaid in February 2037, one in May 2029 and another in August 2038.
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr S R Turner 148,350 9,660 ( 159,035) ( 1,025)
Mr S P Turner 159,535 1,000 ( 161,035) ( 500)
_______ _______ _______ _______
307,885 10,660 ( 320,070) ( 1,525)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr S R Turner 7,835 150,400 ( 9,885) 148,350
Mrs C A Turner 5,000 - (5,000) -
Mr S P Turner - 160,535 ( 1,000) 159,535
_______ _______ _______ _______
12,835 310,935 ( 15,885) 307,885
_______ _______ _______ _______
11. Related party transactions
At the year end an amount of £ 689,466 (2024:£ 751,035 ) was owed by Sambeck Business Park Limited, a subsidiary of Sambeck Caravans Limited. This balance is repayable on demand.Any other related party transactions have been concluded under normal market conditions.