Company No: 10345749 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.10.2024		31.10.2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	1,295,511		118,560
		1,295,511		118,560
Current assets
Stocks		4,302,941		5,509,382
Debtors	5	525,491		540,977
Cash at bank and in hand		352,664		554,497
		5,181,096		6,604,856
Creditors: amounts falling due within one year	6	( 4,141,580)		( 5,190,536)
Net current assets		1,039,516		1,414,320
Total assets less current liabilities		2,335,027		1,532,880
Creditors: amounts falling due after more than one year	7	( 1,730,663)		( 1,284,023)
Provision for liabilities		( 48,708)		( 15,107)
Net assets		555,656		233,750
Capital and reserves
Called-up share capital		100		100
Profit and loss account		555,556		233,650
Total shareholder's funds		555,656		233,750

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Van Haven Limited (registered number: 10345749) were approved and authorised for issue by the Director on 30 October 2025. They were signed on its behalf by:

Mr J R Ottewill Director

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 period, unless otherwise stated.

Prior year adjustment

During the current financial year, the company identified an error in the valuation of stock at the end of the previous financial period. The error arose in the calculation of the work in progress. This resulted in a revision of the closing stock, cost of sales, and retained earnings in the prior period.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Leasehold improvements	25 % reducing balance
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Profit and Loss Account 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Prior year adjustment

The revised accounts replace the original accounts for the financial period ended 31 October 2023 and are now the statutory accounts for that period.

The accounts have been prepared as at the date of the original accounts, and not as at the date of the revision and accordingly do not deal with events between those dates.

During the current financial year, the company identified an error in the valuation of stock at the end of the previous financial period. The error arose in the calculation of the work in progress. This resulted in a revision of the closing stock, cost of sales, and retained earnings in the prior period.

Amendments have been made to the current assets and the profit and loss accounts to reflect this adjustment.

		As previously reported		Adjustment		As restated
Year ended 31 October 2023		£		£		£
Stocks		5,885,770		(376,388)		5,509,382
Profit and loss account		610,038		(376,388)		233,650

3. Employees

	Year ended 31.10.2024		Period from 01.02.2023 to 31.10.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	25		20

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 November 2023	12,206		0		112,488		61,315		7,955		21,438		215,402
Additions	0		1,089,048		0		106,375		0		29,767		1,225,190
At 31 October 2024	12,206		1,089,048		112,488		167,690		7,955		51,205		1,440,592
Accumulated depreciation
At 01 November 2023	2,899		0		61,687		21,782		3,376		7,098		96,842
Charge for the financial year	610		0		12,700		28,323		1,145		5,461		48,239
At 31 October 2024	3,509		0		74,387		50,105		4,521		12,559		145,081
Net book value
At 31 October 2024	8,697		1,089,048		38,101		117,585		3,434		38,646		1,295,511
At 31 October 2023	9,307		0		50,801		39,533		4,579		14,340		118,560

5. Debtors

	31.10.2024		31.10.2023
	£		£
Trade debtors	32,485		9,327
Other debtors	493,006		531,650
	525,491		540,977

6. Creditors: amounts falling due within one year

	31.10.2024		31.10.2023
	£		£
Bank loans and overdrafts	1,085,279		718,514
Trade creditors	580,045		1,179,233
Amounts owed to Group undertakings	219,316		367,437
Taxation and social security	357,828		516,672
Obligations under finance leases and hire purchase contracts	34,145		31,755
Other creditors	1,864,967		2,376,925
	4,141,580		5,190,536

Bank loans are secured with a fixed and floating charge against the company's assets.

Included within other creditors is £1,647,173 in respect of receipts paid in advanced.

Obligations under finance leases and hire purchase contracts are secured by a charge over the fixed assets to which they relate.

7. Creditors: amounts falling due after more than one year

	31.10.2024		31.10.2023
	£		£
Bank loans (secured)	537,165		1,257,348
Amounts owed to Group undertakings	1,000,000		0
Obligations under finance leases and hire purchase contracts (secured)	193,498		0
Other creditors	0		26,675
	1,730,663		1,284,023

Bank loans are secured with a fixed and floating charge against the company's assets.

Obligations under finance leases and hire purchase contracts are secured by a charge over the fixed assets to which they relate.