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Company No: 07428141 (England and Wales)

SOLENT MOTOR HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

SOLENT MOTOR HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

SOLENT MOTOR HOMES LIMITED

BALANCE SHEET

As at 31 January 2025
SOLENT MOTOR HOMES LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 390,623 407,249
Investments 4 100 100
390,723 407,349
Current assets
Stocks 5 2,696,174 2,595,929
Debtors 6 661,284 547,770
Cash at bank and in hand 412,404 289,771
3,769,862 3,433,470
Creditors: amounts falling due within one year 7 ( 2,317,938) ( 1,920,083)
Net current assets 1,451,924 1,513,387
Total assets less current liabilities 1,842,647 1,920,736
Provision for liabilities ( 3,396) ( 870)
Net assets 1,839,251 1,919,866
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,839,151 1,919,766
Total shareholder's funds 1,839,251 1,919,866

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

Directors' responsibilities:

The financial statements of Solent Motor Homes Limited (registered number: 07428141) were approved and authorised for issue by the Board of Directors on 20 July 2025. They were signed on its behalf by:

S Todd
Director
SOLENT MOTOR HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
SOLENT MOTOR HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Solent Motor Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 5 Upton Road, Poole, Dorset BH17 7AA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance
Other property, plant and equipment not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

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

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 11

3. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 February 2024 116,791 43,723 32,662 10,420 259,708 463,304
At 31 January 2025 116,791 43,723 32,662 10,420 259,708 463,304
Accumulated depreciation
At 01 February 2024 2,235 39,610 10,527 3,683 0 56,055
Charge for the financial year 11,679 617 3,320 1,010 0 16,626
At 31 January 2025 13,914 40,227 13,847 4,693 0 72,681
Net book value
At 31 January 2025 102,877 3,496 18,815 5,727 259,708 390,623
At 31 January 2024 114,556 4,113 22,135 6,737 259,708 407,249

4. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 February 2024 100
At 31 January 2025 100
Carrying value at 31 January 2025 100
Carrying value at 31 January 2024 100

5. Stocks

2025 2024
£ £
Stocks 2,696,174 2,595,929

6. Debtors

2025 2024
£ £
Trade debtors 168,637 27,187
Amounts owed by related parties 470,436 520,436
Corporation tax 19,238 0
Other debtors 2,973 147
661,284 547,770

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 320,658 110,532
Taxation and social security 157,529 128,857
Obligations under finance leases and hire purchase contracts 0 258,123
Other creditors 1,839,751 1,422,571
2,317,938 1,920,083