Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312023-11-0149falsefalseSale of new cars and light motor vehicles49falsefalse 03995919 2023-11-01 2024-10-31 03995919 2024-10-31 03995919 2022-11-01 2023-10-31 03995919 2023-10-31 03995919 2022-11-01 03995919 1 2023-11-01 2024-10-31 03995919 1 2022-11-01 2023-10-31 03995919 5 2023-11-01 2024-10-31 03995919 5 2022-11-01 2023-10-31 03995919 d:CompanySecretary1 2023-11-01 2024-10-31 03995919 d:Director1 2023-11-01 2024-10-31 03995919 d:Director1 2024-10-31 03995919 d:Director2 2023-11-01 2024-10-31 03995919 d:Director3 2023-11-01 2024-10-31 03995919 d:Director4 2023-11-01 2024-10-31 03995919 d:Director5 2023-11-01 2024-10-31 03995919 d:RegisteredOffice 2023-11-01 2024-10-31 03995919 e:Buildings 2023-11-01 2024-10-31 03995919 e:Buildings 2024-10-31 03995919 e:Buildings 2023-10-31 03995919 e:Buildings e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03995919 e:PlantMachinery 2023-11-01 2024-10-31 03995919 e:PlantMachinery 2024-10-31 03995919 e:PlantMachinery 2023-10-31 03995919 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03995919 e:MotorVehicles 2023-11-01 2024-10-31 03995919 e:MotorVehicles 2024-10-31 03995919 e:MotorVehicles 2023-10-31 03995919 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03995919 e:FurnitureFittings 2023-11-01 2024-10-31 03995919 e:FurnitureFittings 2024-10-31 03995919 e:FurnitureFittings 2023-10-31 03995919 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03995919 e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03995919 e:FreeholdInvestmentProperty 2024-10-31 03995919 e:FreeholdInvestmentProperty 2023-10-31 03995919 e:CurrentFinancialInstruments 2024-10-31 03995919 e:CurrentFinancialInstruments 2023-10-31 03995919 e:Non-currentFinancialInstruments 2024-10-31 03995919 e:Non-currentFinancialInstruments 2023-10-31 03995919 e:CurrentFinancialInstruments e:WithinOneYear 2024-10-31 03995919 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 03995919 e:Non-currentFinancialInstruments e:AfterOneYear 2024-10-31 03995919 e:Non-currentFinancialInstruments e:AfterOneYear 2023-10-31 03995919 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-10-31 03995919 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-10-31 03995919 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-10-31 03995919 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-10-31 03995919 e:ReportableOperatingSegment1 2023-11-01 2024-10-31 03995919 e:ReportableOperatingSegment1 2022-11-01 2023-10-31 03995919 e:UKTax 2023-11-01 2024-10-31 03995919 e:UKTax 2022-11-01 2023-10-31 03995919 e:ShareCapital 2023-11-01 2024-10-31 03995919 e:ShareCapital 2024-10-31 03995919 e:ShareCapital 2022-11-01 2023-10-31 03995919 e:ShareCapital 2023-10-31 03995919 e:ShareCapital 2022-11-01 03995919 e:SharePremium 2023-11-01 2024-10-31 03995919 e:SharePremium 2024-10-31 03995919 e:SharePremium 2022-11-01 2023-10-31 03995919 e:SharePremium 2023-10-31 03995919 e:SharePremium 2022-11-01 03995919 e:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 03995919 e:RetainedEarningsAccumulatedLosses 2024-10-31 03995919 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 03995919 e:RetainedEarningsAccumulatedLosses 2023-10-31 03995919 e:RetainedEarningsAccumulatedLosses 2022-11-01 03995919 d:OrdinaryShareClass1 2023-11-01 2024-10-31 03995919 d:OrdinaryShareClass1 2024-10-31 03995919 d:OrdinaryShareClass1 2023-10-31 03995919 d:FRS102 2023-11-01 2024-10-31 03995919 d:Audited 2023-11-01 2024-10-31 03995919 d:FullAccounts 2023-11-01 2024-10-31 03995919 d:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03995919 e:WithinOneYear 2024-10-31 03995919 e:WithinOneYear 2023-10-31 03995919 e:BetweenOneFiveYears 2024-10-31 03995919 e:BetweenOneFiveYears 2023-10-31 03995919 e:AcceleratedTaxDepreciationDeferredTax 2024-10-31 03995919 e:AcceleratedTaxDepreciationDeferredTax 2023-10-31 03995919 e:RetirementBenefitObligationsDeferredTax 2024-10-31 03995919 e:RetirementBenefitObligationsDeferredTax 2023-10-31 03995919 2 2023-11-01 2024-10-31 03995919 f:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number 03995919























WANDAHOME (SOUTH CAVE) LIMITED





FINANCIAL STATEMENTS





 31 OCTOBER 2024























img7fb2.png

 
WANDAHOME (SOUTH CAVE) LIMITED
 

COMPANY INFORMATION


Directors
S Flower (appointed 1 November 2024)
S A Burnley 
S D Burnley 
A B Ferriday 
J L Roberts 




Company secretary
Steven David Burnley



Registered number
03995919



Registered office
Brough Road
South Cave

Hull

East Yorkshire

HU15 2DB




Independent auditor
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

Third Floor

10 South Parade

Leeds

West Yorkshire

LS1 5QS





 
WANDAHOME (SOUTH CAVE) LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 8
Statement of Comprehensive Income
 
9
Statement of Financial Position
 
10
Statement of Changes in Equity
 
11
Statement of Cash Flows
 
12
Notes to the Financial Statements
 
13 - 29

 
WANDAHOME (SOUTH CAVE) LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

Introduction
 
The Directors have pleasure in presenting their report and the financial statements of the Company for the year ended 31 October 2024.

Business review
 
The Directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and the Company's position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.
Wandahome South Cave Ltd’s primary sources of income and expenditure are leisure vehicle sales, principally touring caravans, motorhomes and, more recently, campervan conversions. Manufacturer-supplied modifications, dealer-fitted extras and a variety of accessories are also offered at point-of-sale or thereafter.
To support vehicles sales, we provide additional services including an aftersales team who manage the workload of workshop engineers and cleaning staff who provide vehicle servicing, process warranty claims, order parts, submit insurance claims and provide other retail work.
There is an onsite and online accessory shop who supply thousands of common parts and accessories to customers.  The shop also manages our onsite holiday park where customers can enjoy a brief vacation to enable them to become familiar with their new vehicle.
In terms of trading performance, we can clearly see a pattern developing both pre and post the pandemic. People recognise that our products are now the ‘must have’ holiday experience and sales on all sectors of Camper vans, Caravans and Motorhomes are increasing rapidly. 
Because of the demand products are becoming increasingly harder to purchase. Our Directors have worked hard to secure supply of vehicles in various price sectors and have agreements to supply products from new and existing suppliers. 
Our overhead is controlled and the vast majority of our staff members, giving us years of loyal service are firmly committed to the business.

Page 1

 
WANDAHOME (SOUTH CAVE) LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Principal risks and uncertainties
 
The impact of coronavirus and the cost of living crisis has been significant across the whole world, however, the impact on the UK tourism sector has been positive with many more people choosing to holiday in the UK rather than venture abroad. 
Future developments
Our business depends upon discretionary customer income for revenue as leisure vehicles are luxury purchases, however, market conditions across the sector are currently favourable.
Supply issues continue to affect the sector, however, we are very confident of the ability to supply vehicles to our customers in 2024 and beyond. 
Currency Risk
The Company does no business outside the UK other than buying-in a small number of products from Europe. Currency risk is therefore not a significant issue as any fluctuations in currencies can be easily absorbed.
Fair Value Interest risk
Banking arrangements are reviewed on an ongoing basis with our bank and key financial partners to ensure that that the business can plan for rate adjustments.
Price Risk
The Company uses a range of manufacturers and suppliers for each area of provision to ensure that market prices for purchases are achieved and constantly reviews supplier prices and margins.
Credit Risk
Vehicles cannot be dispatched to customers without confirmation monies have been received into our bank.  The Company manages its credit risk using third parties like Black Horse to finance customer loans.
Liquidity Risk
The Board and Financial Director manage control and monitor the Company’s cash flow on a minimum of a monthly basis, including forecasting future cash flows.

Financial key performance indicators
 
The key performance indicators for the business are the number of vehicle sales along with the total net and average profits. There are a variety of income generating operations, however caravan and motorhome sales represent the vast majority of revenue for the business. 


This report was approved by the board and signed on its behalf.





................................................
S D Burnley
Director

Date: 15 July 2025
Page 2

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The Directors present their report and the financial statements for the year ended 31 October 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £416,601 (2023 - £1,529,670).

The Directors have recommended a final dividend this year of £100,000 (2023 - £100,000).

Directors

The Directors who served during the year were:

S A Burnley 
S D Burnley 
A B Ferriday 
J L Roberts 

Matters covered in the Strategic Report

Information is not shown in the Director's report because it is shown in the strategic report instead under s414C (11). The strategic report includes a business review, principal risks and uncertainties and fianncial key performance indicators.

Page 3

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Disclosure of information to auditor

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Under section 487(2) of the Companies Act 2006Armstrong Watson Audit Limited will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





................................................
S D Burnley
Director

Date: 15 July 2025

Page 4

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WANDAHOME (SOUTH CAVE) LIMITED
 

Opinion


We have audited the financial statements of Wandahome (South Cave) Limited (the 'Company') for the year ended 31 October 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 31 October 2024 and of its profit 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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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 other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Page 5

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WANDAHOME (SOUTH CAVE) LIMITED (CONTINUED)


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report 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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Director'sDirectors' Responsibilities Statement set out on page 3, 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 is 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.


Page 6

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WANDAHOME (SOUTH CAVE) LIMITED (CONTINUED)


Auditor's 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 an Auditor's Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•  We obtained an understanding of laws and regulations that affect the Company, focusing on those that    had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws   and regulations that we identified included the UK Companies Act, tax legislation, FCA regulations and    occupational health and employment legislation.
•  We gained an understanding of the controls that the Directors have in place to prevent and detect fraud.    We enquired of the Directors about any incidences of fraud that had taken place during the accounting    period.
•  The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit   team and tests were planned and performed to address these risks. We identified the potential for fraud in  the following areas: revenue recognition and management override of controls.
•  We reviewed financial statements disclosures and tested to supporting documentation to assess     compliance with relevant laws and regulations discussed above.
•  We enquired of the Directors about actual and potential litigation and claims.
•  We performed analytical procedures to identify any unusual or unexpected relationships that might    indicate risks of material misstatement due to fraud.
•  In addressing the risk of fraud due to management override of internal controls we tested the     appropriateness of journal entries and assessed whether the judgements made in making accounting    estimates were indicative of a potential bias.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditor's Report.


Page 7

 
WANDAHOME (SOUTH CAVE) LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WANDAHOME (SOUTH CAVE) LIMITED (CONTINUED)


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 2006Our 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 an Auditor's Report 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.





Matthew Osbourne (Senior Statutory Auditor)
for and on behalf of
Armstrong Watson Audit Limited
Chartered Accountants
Statutory Auditors
Leeds

15 July 2025
Page 8

 
WANDAHOME (SOUTH CAVE) LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
32,876,773
32,331,108

Cost of sales
  
(28,650,990)
(27,006,973)

Gross profit
  
4,225,783
5,324,135

Administrative expenses
  
(3,290,859)
(3,099,918)

Other operating income
 5 
24,480
20,725

Operating profit
 6 
959,404
2,244,942

Interest receivable and similar income
 9 
78,774
71,069

Interest payable and similar expenses
 10 
(545,060)
(321,075)

Profit before tax
  
493,118
1,994,936

Tax on profit
 11 
(76,517)
(465,266)

Profit for the financial year
  
416,601
1,529,670

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£ NIL).

The notes on pages 13 to 29 form part of these financial statements.
Page 9

 
WANDAHOME (SOUTH CAVE) LIMITED
REGISTERED NUMBER: 03995919

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
801,638
799,836

Investment property
 14 
539,955
539,955

  
1,341,593
1,339,791

Current assets
  

Stocks
 15 
16,908,747
12,446,651

Debtors: amounts falling due within one year
 16 
3,456,431
3,008,772

Cash at bank and in hand
 17 
2,189,160
2,660,797

  
22,554,338
18,116,220

Creditors: amounts falling due within one year
 18 
(17,406,847)
(13,079,681)

Net current assets
  
 
 
5,147,491
 
 
5,036,539

Total assets less current liabilities
  
6,489,084
6,376,330

Creditors: amounts falling due after more than one year
 19 
(224,965)
(391,193)

Provisions for liabilities
  

Deferred tax
 21 
(47,163)
(84,782)

  
 
 
(47,163)
 
 
(84,782)

Net assets
  
6,216,956
5,900,355


Capital and reserves
  

Called up share capital 
 22 
10,000
10,000

Share premium account
 23 
342,082
342,082

Profit and loss account
 23 
5,864,874
5,548,273

  
6,216,956
5,900,355


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S D Burnley
Director

Date: 15 July 2025

The notes on pages 13 to 29 form part of these financial statements.
Page 10

 
WANDAHOME (SOUTH CAVE) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 November 2022
10,000
342,082
4,118,603
4,470,685



Profit for the year
-
-
1,529,670
1,529,670
Total comprehensive income for the year
-
-
1,529,670
1,529,670

Dividends: Equity capital
-
-
(100,000)
(100,000)


Total transactions with owners
-
-
(100,000)
(100,000)



At 1 November 2023
10,000
342,082
5,548,273
5,900,355



Profit for the year
-
-
416,601
416,601
Total comprehensive income for the year
-
-
416,601
416,601

Dividends: Equity capital
-
-
(100,000)
(100,000)


Total transactions with owners
-
-
(100,000)
(100,000)


At 31 October 2024
10,000
342,082
5,864,874
6,216,956


The notes on pages 13 to 29 form part of these financial statements.

Page 11

 
WANDAHOME (SOUTH CAVE) LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
416,601
1,529,670

Adjustments for:

Depreciation of tangible assets
107,853
94,582

Interest paid
545,059
321,075

Interest received
(78,774)
(71,069)

Taxation charge
76,517
465,266

(Increase) in stocks
(4,462,097)
(2,597,420)

(Increase) in debtors
(377,940)
(352,366)

Increase in creditors
4,461,265
2,010,982

Corporation tax (paid)
(330,747)
(712,361)

Net cash generated from operating activities

357,737
688,359


Cash flows from investing activities

Purchase of tangible fixed assets
(109,655)
(420,976)

Interest received
78,774
71,069

HP interest paid
(299)
-

Net cash from investing activities

(31,180)
(349,907)

Cash flows from financing activities

Repayment of loans
(153,434)
(189,318)

Dividends paid
(100,000)
(100,000)

Interest paid
(544,760)
(321,075)

Net cash used in financing activities
(798,194)
(610,393)

Net (decrease) in cash and cash equivalents
(471,637)
(271,941)

Cash and cash equivalents at beginning of year
2,660,797
2,932,738

Cash and cash equivalents at the end of year
2,189,160
2,660,797


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,189,160
2,660,797

2,189,160
2,660,797


The notes on pages 13 to 29 form part of these financial statements.

Page 12

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

1.


General information

The Company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The Company is tax resident in the United Kingdom. It trades from its registered office address at Brough Road, South Cave, Brough, HU15 2DB. 
The principal activity of the Company is that of the sale of motorhomes, caravans and related products.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered their cash flow for a period of 12 months from the date of sign off. The prudent, sensitised cash flow forecasts prepared by the Directors show a strong working capital over the 12 months from the date of signing the audit report and forecast a positive cash position throughout.
After consideration of all factors, the Directors continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 13

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 14

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, 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.

Page 15

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Freehold property
-
2% - 10% on cost
Plant and machinery
-
10% on cost
Motor vehicles
-
10% on cost
Fixtures and fittings
-
2% - 10% on cost

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.

 
2.12

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Page 16

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 17

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 18

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

2.Accounting policies (continued)

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will be, by definition, seldom equal to the related actual results.
The Directors consider the key accounting estimates to be the valuation of investment property, provision for trade debtors and slow moving stock.
Fair value of investment property
The Directors use available market information to benchmark the fair value recognised within the financial statements and compare and contrast this information to their own knowledge and experience of the market and investment property in question in assessing the adequacy of the judgement they have applied.
Stock provision
In assessing whether a stock provision is required against a specific stock item the Directors have considered both internal and external sources of information including quantity of stock item held, current orders of the stock item, historic saleability of the stock item and wider market conditions.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sale of caravans, motorhomes and accessories
32,876,773
32,331,108


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Insurance income
13,355
15,069

Rents receivable
11,125
5,656


Page 19

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Fees payable to the company's auditor for the audit of the Company's financial statements
17,500
13,625

Depreciation
107,853
94,582

Other operating lease rentals
76
2,273

Operating lease charges
92,616
123,333

7.


Employees

Staff costs, including Directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,517,928
1,493,350

Social security costs
149,924
142,093

Cost of defined contribution scheme
38,749
41,746

1,706,601
1,677,189


The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Staff
49
49

Page 20

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
400,099
485,444

Company contributions to defined contribution pension schemes
12,003
18,031

412,102
503,475


During the year retirement benefits were accruing to 5 Directors (2023 - 5) in respect of defined contribution pension schemes.

The highest paid Director received remuneration of £233,467 (2023 - £229,276).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £7,005 (2023 - £6,878).

The total accrued pension provision of the highest paid Director at 31 October 2024 amounted to £NIL (2023 - £NIL).


9.


Interest receivable

2024
2023
£
£


Interest receivable on loans to Directors
78,774
71,069


10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
41,151
48,759

Other loan interest payable
503,610
272,316

Finance leases and hire purchase contracts
299
-

545,060
321,075

Page 21

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
159,656
432,393

Adjustments in respect of previous periods
(45,520)
-


114,136
432,393


Total current tax
114,136
432,393

Deferred tax


Origination and reversal of timing differences
(37,619)
32,873

Total deferred tax
(37,619)
32,873


Tax on profit
76,517
465,266

Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 22.52%) as set out below:

2024
2023
£
£


Profit on ordinary activities before tax
493,118
1,994,936


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22.52%)
123,280
449,260

Effects of:


Expenses not deductible for tax purposes
11,730
5,708

Capital allowances for year in excess of depreciation
7,437
5,037

Adjustments to tax charge in respect of prior periods
(45,520)
3,044

Movement in deferred tax not recognised
(20,410)
2,217

Total tax charge for the year
76,517
465,266


Factors that may affect future tax charges

Enter details here

Page 22

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

12.


Dividends

2024
2023
£
£


Dividends paid on equity capital
100,000
100,000


13.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
695,720
103,589
112,791
384,584
1,296,684


Additions
103,596
-
-
6,059
109,655



At 31 October 2024

799,316
103,589
112,791
390,643
1,406,339



Depreciation


At 1 November 2023
136,421
75,891
71,582
212,954
496,848


Charge for the year on owned assets
59,127
4,812
6,951
36,963
107,853



At 31 October 2024

195,548
80,703
78,533
249,917
604,701



Net book value



At 31 October 2024
603,768
22,886
34,258
140,726
801,638



At 31 October 2023
559,299
27,698
41,209
171,630
799,836

Page 23

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

14.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
539,955



At 31 October 2024
539,955

The 2024 valuations were made by the Directors who consider the market value to be not materially different to the above value as at 31 October 2022, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
539,955
539,955

Accumulated depreciation and impairments
(83,554)
(83,554)

456,401
456,401


15.


Stocks

2024
2023
£
£

Raw materials and consumables
607,500
562,476

Finished goods and goods for resale
16,301,247
11,884,175

16,908,747
12,446,651



16.


Debtors

2024
2023
£
£


Trade debtors
237,212
214,062

Other debtors
2,892,565
2,449,560

Prepayments and accrued income
326,654
345,150

3,456,431
3,008,772


Page 24

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,189,160
2,660,797



18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
182,736
169,942

Trade creditors
15,493,306
10,648,296

Corporation tax
157,183
304,077

Other taxation and social security
463,245
776,831

Other creditors
379,628
141,447

Accruals and deferred income
730,749
1,039,088

17,406,847
13,079,681


The following liabilities were secured:

2024
2023
£
£



Bank loans
182,736
169,942

182,736
169,942

Details of security provided:

The bank loans are secured by fixed and floating charges on all assets of the Company.
Certain bank loans are secured over personal assets of S D Burnley.

Page 25

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

19.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
224,965
391,193

224,965
391,193


The following liabilities were secured:

2024
2023
£
£



Bank loans
224,965
391,193

224,965
391,193

Details of security provided:

The bank loans are secured by fixed and floating charges on all assets of the Company.
Certain bank loans are secured over personal assets of S D Burnley.

Page 26

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

20.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
182,736
169,942


182,736
169,942

Amounts falling due 1-2 years

Bank loans
224,965
172,117


224,965
172,117

Amounts falling due 2-5 years

Bank loans
-
219,076


-
219,076


407,701
561,135


Interest is charged at annual rates between 3.19% - 3.6%.

Page 27

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

21.


Deferred taxation




2024
2023


£

£






At beginning of year
(84,782)
(51,909)


Charged to profit or loss
37,619
(32,873)



At end of year
(47,163)
(84,782)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(47,892)
(83,018)

Pension surplus
729
(1,764)

(47,163)
(84,782)


There are no unused tax losses or unused tax credits.
The net deferred tax liability expected to reverse in 2024 is £15,551. This primarily relates to the reversal of timing differences on capital allowances.


22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

The ordinary shares carry rights of one vote per share and have no restrictions on the distribution of dividends and the repayment of capital.



23.


Reserves

Share premium account

The reserve arises on money paid for a share by a shareholder, in excess of the share cost.

Profit and loss account

The profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.

Page 28

 
WANDAHOME (SOUTH CAVE) LIMITED
 

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

24.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund amounted to £38,749 (2023: £41,746). Contributions totalling £9,025 (2023 - £10,974) were payable to the fund at the reporting date and are included in creditors.


25.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
90,537
92,616

Later than 1 year and not later than 5 years
270,000
361,012

360,537
453,628


26.


Related party transactions

S Burnley provided personal guarantees in respect of consignment stock with a maximum liability amounting to £175,000.
Included within other debtors is £2,164,215 (2023: £1,796,430), which the Company was owed by S D Burnley. Interest is charges on the balance at HMRC's official rate of interest.
During the year the Company paid rent of £90,000 (2023: £75,000) to a self-invested personal pension (SIPP) of which S D Burnley is a member trustee.
Dividends of £100,000 (2023: £100,000) were paid to the Directors during the year. 


27.


Controlling party

The Company is controlled by S D Burnley, by virtue of his majority shareholding.

Page 29