Hitchin Caravans Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07862031 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HITCHIN CARAVANS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Turley

J Brown

D J Brown

M R Pearson

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

07862031 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

508,190

473,984

Investment property

5

280,000

788,190

753,984

CURRENT ASSETS

Stocks

6

4,086,310

2,759,508

Debtors

7

31,717

110,711

Cash at bank

123,091

1,681,231

4,241,118

4,551,450

CREDITORS

Amounts falling due within one year

8

1,781,980

1,943,633

NET CURRENT ASSETS

2,459,138

2,607,817

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,247,328

3,361,801

CREDITORS

Amounts falling due after more than one
year

9

(699,990

)

(699,990

)

PROVISIONS FOR LIABILITIES

(11,535

)

(1,552

)

NET ASSETS

2,535,803

2,660,259

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

2,535,703

2,660,159

SHAREHOLDERS' FUNDS

2,535,803

2,660,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

D J Brown - Director

1.	STATUTORY INFORMATION

Hitchin Caravans Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The company is not subject to any significant judgements or estimates.

Turnover

Turnover is measured at the fair value of the consideration receivable net of VAT and trade discounts. The polices adopted for the recognition of turnover are as follows:-

Sales of Goods

Turnover from the sale of caravans, motorhomes and accessories is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the cost incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Interest, commission and rent received

Interest income is recognised using the effective interest method. Commission and rent receivable is recognised as the company's right to receive payment is established.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes cost directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each assets on a systematic basis over its expected useful life as follows:-

Freehold Buildings

3% on cost less residual value

Portable buildings

5 years straight line

Plant and machinery

15% reducing balance

Fixtures and Fittings

15% reducing balance

Motor vehicles

15% reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other cost incurred in bringing stock to its present location and condition. Cost is calculated using first-in, first-out formula.

Provision is made for damaged, obsolete and slow-moving stock where appropriate on all shop or workshop stock. The cost of all caravan or motorhome stock is written back to reflect any damage or obsolescence.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Basic financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

There is an interest free secured stocking plan facility which is under normal industry standard terms.

The company does not have any other basic financial instruments.

The company has issued preference shares which are valued at cost less impairment. The preference share attract an 3% dividend.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Portable

Furniture

Motor

property

buildings

& fittings

vehicles

Totals

£

COST

At 1 January 2024

448,673

19,754

33,104

48,798

550,329

Additions

-

24,214

25,892

50,106

At 31 December 2024

448,673

19,754

57,318

74,690

600,435

DEPRECIATION

At 1 January 2024

9,928

14,174

21,346

30,897

76,345

Charge for year

2,090

1,860

5,381

6,569

15,900

At 31 December 2024

12,018

16,034

26,727

37,466

92,245

NET BOOK VALUE

At 31 December 2024

436,655

3,720

30,591

37,224

508,190

At 31 December 2023

438,745

5,580

11,758

17,901

473,984

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

280,000

NET BOOK VALUE

At 31 December 2024

280,000

At 31 December 2023

280,000

6.

STOCKS

2024

2023

£

Stocks

4,086,310

2,759,508

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

9,551

9,668

Other debtors

1,867

1,850

VAT

9,716

89,302

Prepayments

10,583

9,891

31,717

110,711

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1,299,598

1,310,022

Sales deposits held

59,298

18,067

Tax

74,787

211,174

Social security and other taxes

7,321

6,557

Other creditors

-

112,000

Directors' current accounts

335,500

280,818

Accrued expenses

5,476

4,995

1,781,980

1,943,633

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Preference shares

699,990

10.	FINANCIAL INSTRUMENTS

The company has £699,990 in £1 preference shares in issue. They are non redeemable and attract a 3% dividend.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

60

Ordinary

£1

60

20

A Ordinary

£1

20

B Ordinary

£1

20

100

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £353,527 (2023 - £319,845) were paid to the directors .

Preference share dividends of £21,000 were paid to directors in the period to 31st December 2024. (2023: £21,000)