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REGISTERED NUMBER: 03005111 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 June 2024

for

Grantham Caravans Limited

Grantham Caravans Limited (Registered number: 03005111)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 14

Notes to the Financial Statements 15


Grantham Caravans Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R J Evans
Ms R J Greenacre
L M Connolly
P F Connolly





REGISTERED OFFICE: Spittlegate Level
Grantham
Lincolnshire
NG31 7UH





REGISTERED NUMBER: 03005111 (England and Wales)





AUDITORS: Samantha Allan
3 Holloway Close
East Bridgford
Nottingham
NG13 8NG

Grantham Caravans Limited (Registered number: 03005111)

Strategic Report
for the Year Ended 30 June 2024

The directors present their Strategic Report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The company has continued the strategy of diversification within related leisure products and services.

The year has seen continued growth in the e-commerce parts and accessories business (£1.83m sales; +35%) brought about by focused management and high quality marketing. We plan to further expand this area of our business.

The company’s development into the sale of new and used motorhomes has been successful and these products have become a more important part of our business strategy.

During the period, the company ended the supply of caravans from one major UK supplier and commenced the supply of caravans and motorhomes from another major UK supplier.

The company has maintained its position in the UK touring caravan market and improved its position in the new and used motorhome market. The industry as a whole experienced a sharp decline in demand resulting from political uncertainty and poor national economic performance in the period under review. This decline caused a reduction in the value of caravans and motorhomes which has been reflected in the financial statements attached.

The company will continue its policy of diversification within the leisure industry to reduce dependence on a particular sector.

PRINCIPAL RISKS AND UNCERTAINTIES
It remains the case that world events, such as the invasion of Ukraine, with their consequential effects on interest rates and world commodity prices affect the appetite of consumers to purchase discretionary "big ticket" items.

Equally, these events continue to adversely affect business’s costs which cannot be passed onto the consumer because of the competitive nature of the industry.

Further, substantial inflation within the labour market and increases in corporate taxation restrict the business’s ability to accumulate surpluses which can be used to finance growth.

Whilst the business is supported by an excellent team, it remains the case that recruitment of team members to support our planned expansion reveals a lack of candidates with appropriate skills and attitudes. Hence, we continue to recruit and train new recruits to our own standards.

KEY PERFORMANCE INDICATORS
To maintain satisfactory financial liquidity. The company has maintained satisfactory financial liquidity through careful cost control and careful financial planning. This strategy will continue.

To balance gross margin generation with personnel costs. This indicator is constantly monitored and downward adjustments to labour costs have been made in the period.

To maintain a high level of customer satisfaction. This indicator has improved, and remains at a satisfactory level because of investment in training and improved processes.


Grantham Caravans Limited (Registered number: 03005111)

Strategic Report
for the Year Ended 30 June 2024

EMPLOYEE DETAILS
Employee gender diversity:

Company directors: 2 female, 2 male
Senior personnel: 1 female, 4 male
Other employees: 11 female, 17 male

The company is satisfied with its record on gender diversity. Our recruitment process continues to adopt a scrupulous policy of employing the best candidate for the role. It is notable that female candidates infrequently apply for the positions of workshop technicians.

Whilst communication with team members continues through informal channels, a monthly newsletter keeps everyone informed of events and developments.

ENVIRONMENTAL CONSIDERATIONS
The direct impact of the company’s activities on the environment is limited by its size and the nature of its operations. The directors are mindful of the need to protect the environment and are committed to controlling the business’s impact on the wider environment.

Electricity:

Lighting is provided through LED fittings. The company does not have a method of producing electricity but the newly built workshop’s roof will eventually be used for power generation through solar panels. This will substantially reduce our consumption of power from the grid.

Oil:

The use of oil fired space heaters has been greatly reduced following the opening of our new workshop premises whose thermal efficiency standards are much higher than the previous buildings. Oil fired space heaters are used where there is no practical alternative to providing directional heat.

Air source heating:

This technology is used in the company’s principal customer area.

Chemicals:

The company used only small amounts of chemicals, all of which comply with British environmental standards.

Waste disposal:

Specialist waste disposal companies are used to ensure that the relevant standards are adhered to.


Grantham Caravans Limited (Registered number: 03005111)

Strategic Report
for the Year Ended 30 June 2024

STRATEGIC OBJECTIVES
The group's strategic objectives are:

- To create sales and revenue growth through attracting customers in the leisure market to acquire our products and services by providing high levels of customer service and quality products.

- To maintain and improve financial stability through careful control of financial assets, costs and profit performance.

- To provide a stable and rewarding working environment for employees which encourages commitment.

- To adhere to environmental guidelines which protect the business and the wider environment.

The businesses operates entirely within the leisure market. Its products are predominantly touring caravans and campervans.The market for the products is National and International. There are high levels of competition and success depends upon remaining competitive on price, product, marketing and levels of customer satisfaction.

To achieve satisfactory sales level, the group depends upon customer advocacy, digital marketing and representation at Regional and National shows. The businesses continue to invest in each of these key areas.

Measured by turnover, the group is within the top 25% of businesses operating in the touring caravan sector.

Given the relatively high unit price of our products and the fact that they are discretionary, our sector within the leisure market is affected by Government policies. The current policy to reduce inflation by raising interest rates has adversely affected customer demand whereas, customer demand was previously high following the end of COVID-19 lock-downs.

ON BEHALF OF THE BOARD:





R J Evans - Director


25 June 2025

Grantham Caravans Limited (Registered number: 03005111)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale of new and used touring caravans and accessories.

DIVIDENDS
No interim dividends were paid.during the year. The directors do not recommend the payment of a final dividend for the year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

R J Evans
Ms R J Greenacre
L M Connolly
P F Connolly

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Grantham Caravans Limited (Registered number: 03005111)

Report of the Directors
for the Year Ended 30 June 2024


AUDITORS
The auditors, Samantha Allan, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R J Evans - Director


25 June 2025

Report of the Independent Auditors to the Members of
Grantham Caravans Limited

Opinion
We have audited the financial statements of Grantham Caravans Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Grantham Caravans Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Grantham Caravans Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Grantham Caravans Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Samantha Allan (Senior Statutory Auditor)
for and on behalf of Samantha Allan
3 Holloway Close
East Bridgford
Nottingham
NG13 8NG

26 June 2025

Grantham Caravans Limited (Registered number: 03005111)

Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 3 18,768,323 13,082,844

Cost of sales (17,615,926 ) (11,597,295 )
GROSS PROFIT 1,152,397 1,485,549

Distribution costs (6,333 ) -
Administrative expenses (1,298,028 ) (1,183,257 )
(151,964 ) 302,292

Other operating income 4 174,960 153,570
OPERATING PROFIT 6 22,996 455,862

Interest receivable and similar income 1,287 -
24,283 455,862

Interest payable and similar expenses 7 (319,915 ) (119,841 )
(LOSS)/PROFIT BEFORE TAXATION (295,632 ) 336,021

Tax on (loss)/profit 8 44,322 (77,637 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(251,310

)

258,384

Grantham Caravans Limited (Registered number: 03005111)

Other Comprehensive Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (251,310 ) 258,384


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(251,310

)

258,384

Grantham Caravans Limited (Registered number: 03005111)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 1,377,787 1,233,929
1,377,787 1,233,929

CURRENT ASSETS
Stocks 12 9,844,515 7,140,960
Debtors 13 1,355,842 1,166,146
Cash at bank and in hand 641,749 540,327
11,842,106 8,847,433
CREDITORS
Amounts falling due within one year 14 (10,566,755 ) (7,455,287 )
NET CURRENT ASSETS 1,275,351 1,392,146
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,653,138

2,626,075

CREDITORS
Amounts falling due after more than one
year

15

(620,114

)

(360,741

)

PROVISIONS FOR LIABILITIES 19 (79,000 ) (60,000 )
NET ASSETS 1,954,024 2,205,334

CAPITAL AND RESERVES
Called up share capital 20 38,475 38,475
Share premium 21 275 275
Revaluation reserve 21 59,412 59,412
Retained earnings 21 1,855,862 2,107,172
SHAREHOLDERS' FUNDS 1,954,024 2,205,334

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





R J Evans - Director


Grantham Caravans Limited (Registered number: 03005111)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 July 2022 38,475 1,848,818 275 59,412 1,946,980

Changes in equity
Profit for the year - 258,384 - - 258,384
Total comprehensive income - 258,384 - - 258,384
Dividends - (30 ) - - (30 )
Balance at 30 June 2023 38,475 2,107,172 275 59,412 2,205,334

Changes in equity
Deficit for the year - (251,310 ) - - (251,310 )
Total comprehensive income - (251,310 ) - - (251,310 )
Balance at 30 June 2024 38,475 1,855,862 275 59,412 1,954,024

Grantham Caravans Limited (Registered number: 03005111)

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

1. STATUTORY INFORMATION

Grantham 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

This exemption is available to the company because it is a subsidiary undertaking and consolidated financial statements including the company's activities are publicly available.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold land and buildings - 4% on cost
Short leasehold - in accordance with the property
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on cost

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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Grantham Caravans Limited (Registered number: 03005111)

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

2. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets:

Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:

(a) the contractual rights to the cash flows from the asset expire or are settled;
(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities:

Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

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.

Grantham Caravans Limited (Registered number: 03005111)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The financial statements have been prepared on the going concern basis.The directors are not aware of any material threats to the ability of the company to continue to trade for the foreseeable future.

3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30.6.24 30.6.23
£    £   
Caravan and accessory sales 18,326,494 12,693,522
Service sales 342,378 362,059
Motor home sales - 27,263
Motor home hire 99,451 -
18,768,323 13,082,844

4. OTHER OPERATING INCOME
30.6.24 30.6.23
£    £   
Sundry receipts 3,535 -
Commissions receivable 52,358 36,854
Marketing support receivable 119,067 116,716
174,960 153,570

5. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 1,042,985 861,271
Social security costs 86,795 71,749
Other pension costs 26,130 21,771
1,155,910 954,791

Grantham Caravans Limited (Registered number: 03005111)

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

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.6.24 30.6.23

Administration and management 3 3
Sales 8 8
Service 19 15
Shop 4 5
Valeting 3 3
Directors 4 4
41 38

30.6.24 30.6.23
£    £   
Directors' remuneration - -

6. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Hire of plant and machinery 12,471 6,965
Depreciation - owned assets 54,340 45,525
Loss on disposal of fixed assets - 1,438
Goodwill amortisation - 9,990
Auditor's remuneration: audit services 13,500 23,428

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
Bank loan interest 15,530 15,692
Other interest 2,952 338
Stock funding loan interest 298,122 99,921
Hire purchase 3,311 3,890
319,915 119,841

Grantham Caravans Limited (Registered number: 03005111)

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

8. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax (63,322 ) 69,637

Deferred tax 19,000 8,000
Tax on (loss)/profit (44,322 ) 77,637

9. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of £1 each
Interim - 30

10. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill property Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 9,990 33,554 43,544
AMORTISATION
At 1 July 2023
and 30 June 2024 9,990 33,554 43,544
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

Grantham Caravans Limited (Registered number: 03005111)

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

11. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Short and Motor
buildings leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 340,902 687,014 496,411 51,243 1,575,570
Additions 131,997 - 64,663 600 197,260
At 30 June 2024 472,899 687,014 561,074 51,843 1,772,830
DEPRECIATION
At 1 July 2023 - 75,638 241,182 24,821 341,641
Charge for year 6,357 14,337 26,010 7,636 54,340
Charge written back - - - (938 ) (938 )
At 30 June 2024 6,357 89,975 267,192 31,519 395,043
NET BOOK VALUE
At 30 June 2024 466,542 597,039 293,882 20,324 1,377,787
At 30 June 2023 340,902 611,376 255,229 26,422 1,233,929

Included in cost of land and buildings is freehold land of £ 155,062 (2023 - £ 155,062 ) which is not depreciated.

12. STOCKS
30.6.24 30.6.23
£    £   
Work-in-progress 55,555 40,961
Finished goods 9,788,960 7,099,999
9,844,515 7,140,960

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 87,974 61,450
Amounts owed by group undertakings 875,225 549,825
Other debtors 235,937 427,449
Directors' current accounts 15,752 15,752
Prepayments and accrued income 140,954 111,670
1,355,842 1,166,146

Grantham Caravans Limited (Registered number: 03005111)

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

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts (see note 16) 56,305 79,106
Hire purchase contracts (see note 17) 105,612 -
Trade creditors 9,521,504 6,621,333
Tax 4,092 67,414
Social security and other taxes 27,345 21,783
VAT 147,042 125,930
Directors' current accounts 3,785 5,366
Accruals and deferred income 701,070 534,355
10,566,755 7,455,287

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 16) 74,356 130,741
Hire purchase contracts (see note 17) 123,758 -
Directors' loan accounts 422,000 230,000
620,114 360,741

16. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 56,305 79,106

Amounts falling due between one and two years:
Bank loans - 1-2 years 56,173 105,365

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,654 14,366

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 529 11,010

Grantham Caravans Limited (Registered number: 03005111)

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

17. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 105,612 -
Between one and five years 123,758 -
229,370 -

18. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 130,661 209,847
Hire purchase contracts 229,370 -
Directors' loans 425,785 235,366
Trade creditors 7,988,328 5,618,272
8,774,144 6,063,485

The bank borrowings are secured by a mortgage debenture over the assets of the company.
The hire purchase liabilities are secured against the assets financed.
Trade creditors of £7,988,328 (2023 £5,618,272) are secured against the caravan stock financed.
The amounts due to the Director, R J Evans of £3,785 due within 12 months (2023 £5,366) and £422,000 due after more than 12 months ( 2023 £230,000) are secured by a charge over the assets of the company and of its parent undertaking.
In addition, liabilities of the company's parent undertaking, amounting to £675,000 (2023 £1,000,000) are secured by a charge over the assets of the company and of its parent undertaking.




.

19. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax
Accelerated capital allowances 79,000 60,000

Grantham Caravans Limited (Registered number: 03005111)

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

19. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 60,000
Provided during year 19,000
Balance at 30 June 2024 79,000

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
38,475 Ordinary £1 38,475 38,475

21. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 2,107,172 275 59,412 2,166,859
Deficit for the year (251,310 ) (251,310 )
At 30 June 2024 1,855,862 275 59,412 1,915,549

22. CONTINGENT LIABILITIES

As described in note 18 the company has provided a guarantee in respect of the sums owed to the director, R J Evans by its parent undertaking. The amount subject to the guarantee was £675,000 (2023 £1,000,000).

23. OTHER FINANCIAL COMMITMENTS

The company has financial commitments in respect of a non-cancellable operating lease for the rental of property which expires in 2067 and in respect of a second non-cancellable operating lease for the rental of property which expires in 2027.The financial commitment in respect of these leases at 30 June 2024 was £1,324,000 (2023 £1,392,000).The rent due under the leases is subject to periodic reviews.

Grantham Caravans Limited (Registered number: 03005111)

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

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
R J Evans
Balance outstanding at start of year (235,366 ) (865 )
Amounts advanced 133,672 1,319
Amounts repaid (324,091 ) (235,820 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (425,785 ) (235,366 )

P F Connolly and L M Connolly
Balance outstanding at start of year 15,752 -
Amounts advanced - 15,752
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,752 15,752

As noted above a loan to the directors P F Connolly and L.M Connolly subsisted during the year. The year-end balance of £15,752 was the maximum balance outstanding during the year.
The company has provided a guarantee in respect of liabilities of £675,000 (2023 £1,000,000) due by the company and its parent undertaking to the director, R J Evans.
These liabilities are secured by a charge over the assets of the company.
Mr R.J Evans has provided personal guarantees in respect of some of the bank borrowings of the company and in respect of the company's stock financing liabilities. The total liabilities subject to guarantee at 30 June 2024 were £5,301,571 (2023 £4,987,861).

25. RELATED PARTY DISCLOSURES

The directors of the company are also directors and shareholders of another company. During the year the company made a management charge of £590,000 (2023 £420,000) to Grantham Caravans Limited. . At 30 June 2024 Grnatham Caravans Limited was owed £230,493 (2023 £422,005) by the company. The balance is unsecured, free of interest and is repayable upon demand
The director, R Greenacre provided accountancy services to the company with an aggregate value of £33,063 (2023 £29,729).

Parent undertaking and ultimate parent undertaking
The immediate and ultimate controlling entity of the company is Ampco 150 Limited, a company incorporated and registered in England and Wales.
Copies of the group financial statements of Ampco 150 Limited and its subsidiary undertakings, which incorporate the financial statements s of the company may be obtained from the registered office of Ampco 150 Limited, which is as follows:
7 The Ropewalk
Nottingham
NG1 5DJ

Grantham Caravans Limited (Registered number: 03005111)

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

26. CONTROLLING PARTY

The ultimate controlling parties are the directors, L Connolly and P Connolly.