Registration number:
Yorkshire Caravans & Motorhomes Limited
for the Year Ended 31 March 2025
Yorkshire Caravans & Motorhomes Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Yorkshire Caravans & Motorhomes Limited
Company Information
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Directors |
Mr C P Brown Mr J Goulden |
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Registered office |
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Bankers |
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Auditors |
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Yorkshire Caravans & Motorhomes Limited
Strategic Report for the Year Ended 31 March 2025
The directors present their strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is sale and distribution of caravans, motorhomes and accessories.
Fair review of the business
The directors consider that the results for the year and the financial position at the end of the year were satisfactory.
The company has successfully increased its turnover by 69% and whilst its gross profit percentage has decreased, it has improved its overall net profit.
The company's balance sheet remains satisfactory.
While current market conditions remain challenging the directors believe there are still opportunities for profitable growth.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
34,492,993 |
20,414,194 |
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Gross profit |
£ |
4,902,117 |
3,357,302 |
|
Gross profit as % of turnover |
% |
14 |
16 |
|
Profit before tax |
£ |
1,232,019 |
683,964 |
|
Net current assets |
£ |
655,718 |
496,513 |
|
Net assets |
£ |
1,421,367 |
1,080,461 |
Principal risks and uncertainties
The principal risks and uncertainties faced by the company are the general uncertain economic climate in which it currently trades.
Approved and authorised by the
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Yorkshire Caravans & Motorhomes Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
During the year interim dividends of £580,000 were paid. The directors do not recommend a final dividend be made in respect of the financial year ended 31 March 2025.
Financial instruments
Objectives and policies
The company's principal financial instruments comprise bank balances, stocking loans, trade debtors and trade creditors. The purposes of these instruments is to finance the company's business operations. The directors do not consider that the company has any significant financial risks other than those normal commercial risks arising from its trading operations. Such risks are managed so as to permit the smooth operation of the business.
Price risk, credit risk, liquidity risk and cash flow risk
Most sales are to UK customers and most suppliers are UK based and accordingly the company has not entered into any hedging arrangements in respect of risks relating to trade debtors and creditors.
The company has operated throughout the year within its banking and stocking loan facilities, thereby substantially eliminating liquidity and cash flow risks.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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......................................... |
Yorkshire Caravans & Motorhomes Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual 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 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
Opinion
We have audited the financial statements of Yorkshire Caravans & Motorhomes Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Statement of 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 31 March 2025 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 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.
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and 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 our 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 and the Directors' Report.
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. |
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], 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.
Auditor 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.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
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Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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.
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:-
• The engagement partner ensured that the audit team collectively had the appropriate competence, capability and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the caravan, motorhome, awnings and leisure accessories retail industry;
• We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protections legislation, employment law and environmental and health and safety legislation;
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
• The audit team remained alert to the possibility of non-compliance with laws and regulations throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement including obtaining an understanding of how fraud might occur, by:
• Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
• Considering what motivations and opportunities for fraud may exist within the company.
To address the risk of fraud through management bias and override of controls, we:
• Performed analytical procedures to identify any unusual or unexpected relationships;
• Reviewed journal entries to identify unusual transactions vouching to supporting documentation where appropriate;
• Reviewed the company’s bank nominal for any significant or unusual transactions vouching to supporting documentation where appropriate;
• Assessed whether the judgements and assumptions made in determining any accounting estimates used in preparing the accounts were indicative of bias; and
• We maintained an approach of professional scepticism throughout the audit; recognising the possibility of a material misstatement due to facts or behaviour indicating irregularities (including fraud) or error, notwithstanding our past experience of the honesty and integrity of the company's management.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• Agreeing financial statement disclosures to underlying supporting documentation;
• Enquiring of management as to actual and potential litigation and claims;
• Reviewing correspondence with HMRC;
• Reviewing legal expenses both during and after the year for any items indicative of ongoing litigation and potential claims; and
• We confirmed that the company’s industry certifications remained valid.
Yorkshire Caravans & Motorhomes Limited
Independent Auditor's Report to the Members of Yorkshire Caravans & Motorhomes Limited
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.
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 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.
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For and on behalf of
Doncaster
South Yorkshire
DN1 2HJ
Yorkshire Caravans & Motorhomes Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
|
|
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Operating profit |
|
|
|
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Interest payable and similar charges |
( |
( |
|
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(125,582) |
(92,804) |
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Profit before tax |
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|
|
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Taxation |
( |
( |
|
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Profit for the financial year |
|
|
|
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Retained earnings brought forward |
1,060,461 |
698,913 |
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Dividends paid |
( |
( |
|
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Retained earnings carried forward |
1,401,367 |
1,060,461 |
Yorkshire Caravans & Motorhomes Limited
Statement of Comprehensive Income for the Year Ended 31 March 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Yorkshire Caravans & Motorhomes Limited
(Registration number: 00688060)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
|
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
20,000 |
20,000 |
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Retained earnings |
1,401,367 |
1,060,461 |
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Shareholders' funds |
1,421,367 |
1,080,461 |
Approved and authorised by the
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Yorkshire Caravans & Motorhomes Limited
Statement of Changes in Equity for the Year Ended 31 March 2025
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Share capital |
Retained earnings |
Total |
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|
At 1 April 2024 |
|
|
|
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Profit for the year |
- |
|
|
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Dividends |
- |
( |
( |
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At 31 March 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 April 2023 |
|
|
|
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Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
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At 31 March 2024 |
20,000 |
1,060,461 |
1,080,461 |
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in pounds sterling which is the functional currency of the company.
Summary of disclosure exemptions
An exemption has been claimed under Section 7 of FRS102 to opt out of preparing a company cash flow statement. The cash flows of the company are included in the consolidated statement of cash flows. .
Name of parent of group
These financial statements are consolidated in the financial statements of Yorkshire Caravans Group Limited.
The financial statements of Yorkshire Caravans Group Limited may be obtained from the registered office.
Exemption from preparing group accounts
The financial statements contain information about Yorkshire Caravans & Motorhomes Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Yorkshire Caravans Group Limited.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold property improvements |
2% straight line |
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Plant and machinery |
12.5% and 20% straight line |
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Fixtures and fittings |
12.5% and 20% straight line |
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Motor vehicles |
20% straight line |
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Office equipment |
33.3% straight line |
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Separately acquired trademarks, licences and websites are shown at historical cost.
Trademarks, licences (including software), websites and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences, websites and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
|
Website |
33.3% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Investments in subsidiaries are held at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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 inventories 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
Critical judgements
The directors do not consider that there have been any critical judgements made in the process of applying the company's accounting policies. |
Key sources of estimation uncertainty
The directors do not consider that there have been any key assumptions concerning the future or other key sources of estimation uncertainty at the balance sheet date which may cause a material adjustment to the carrying amount of assets and liabilities within the next financial year.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Rental income |
|
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Loss on disposal of tangible assets |
( |
( |
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Loss on disposal of property, plant and equipment |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
Other departments |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
178,064 |
124,375 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax increase from other short-term timing differences |
|
|
|
Total tax charge |
|
|
Deferred tax
Deferred tax has been recognised at 25% (2024 25%) in line with the corporation tax rates expected to be in force when the associated timing differences reverse.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Deferred tax relating to accelerated capital allowances |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Deferred tax relating to accelerated capital allowances |
- |
|
|
- |
|
|
Intangible assets |
|
Website |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2024 |
|
|
|
At 31 March 2025 |
|
|
|
Amortisation |
||
|
At 1 April 2024 |
|
|
|
Amortisation charge |
|
|
|
At 31 March 2025 |
|
|
|
Carrying amount |
||
|
At 31 March 2025 |
|
|
|
At 31 March 2024 |
|
|
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
|
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||||
|
At 1 April 2024 |
|
|
|
|
|
|
|
Additions |
|
- |
|
|
|
|
|
Disposals |
- |
- |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
|
|
Depreciation |
||||||
|
At 1 April 2024 |
|
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
|
|
Carrying amount |
||||||
|
At 31 March 2025 |
|
|
|
|
|
|
|
At 31 March 2024 |
|
|
|
|
|
|
Included within the net book value of land and buildings above is £109,456 (2024 - £24,429) in respect of leasehold property improvements.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
12,876 |
16,266 |
|
Motor vehicles |
60,155 |
77,156 |
|
73,031 |
93,422 |
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 April 2024 |
|
|
At 31 March 2025 |
|
|
Provision |
|
|
At 1 April 2024 |
- |
|
At 31 March 2025 |
- |
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Doncaster Road
England |
|
|
|
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Subsidiary undertakings |
|
Panelworks Limited The principal activity of Panelworks Limited is |
|
Stocks |
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
|
Work in progress |
|
|
|
|
|
The carrying amount of stocks pledged as security for liabilities amounted to £
|
Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
- |
|
|
|
|
|
Bank overdrafts |
- |
( |
|
Cash and cash equivalents |
366,042 |
(78,251) |
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other payables |
|
- |
|
|
Accruals |
|
|
|
|
Corporation tax |
103,115 |
168,724 |
|
|
Deferred income |
|
- |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
|
Amounts owed to related parties |
- |
|
|
|
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 April 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 March 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
20,000 |
|
20,000 |
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
- |
|
|
Hire purchase contracts |
|
|
|
|
|
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
- |
|
|
Bank overdrafts |
- |
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|
Bank borrowings
|
The company had not pledged any assets as security in respect of the CBILs loan. The loan scheme was backed by Government Guarantees as part of their Covid response package. |
Hire purchase contracts
Hire purchase creditors are secured against the assets to which they relate.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Other borrowings
Other borrowings in the sum of £6,991,405 (2024 - £4,699,506) represent amounts due under stocking loans that are secured over new and used caravan and motorhome stocks.
Other borrowings in the sum of £Nil (2024 - £104,000) represent amounts due in respect of deferred consideration for the acquisition of Panelworks Limited.
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
In addition to the financial commitments detailed above, the company's bankers hold a cross guarantee in respect of the bank borrowings of the company, its parent companies, (Y C Leisure Limited, YC Holdings Limited and Yorkshire Caravans Group Limited) and its subsidiary Panelworks Limited. At the balance sheet date, Y C Leisure Limited had borrowings of £332,493 (2024 - £488,515), the security for which includes this cross guarantee.
Y C Leisure Limited has also provided guarantees over part of the company's stocking loan borrowings.
|
Dividends |
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividends paid on ordinary shares |
|
|
||
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Related party transactions |
|
Transactions with directors |
|
2025 |
At 1 April 2024 |
Repayments by director |
At 31 March 2025 |
|
Mr J Goulden |
|||
|
Director's loan |
|
( |
- |
|
2024 |
At 1 April 2023 |
Advances to director |
Repayments by director |
At 31 March 2024 |
|
Mr J Goulden |
||||
|
Director's loan |
- |
|
( |
|
|
Other transactions with directors |
Director's loans are interest free, unsecured and repayable on demand.
The balance owed to Mr J Goulden at the year end in respect of the director's current account was £1,182 (2024 - £Nil). Interest is not charged on the balances due to the director and amounts are repayable on demand.
Summary of transactions with parent
Yorkshire Caravans & Motorhomes Limited operates out of property owned by Y C Leisure Limited. No rent is charged.
Summary of transactions with subsidiaries
At the year end the company owed £27,425 (2024 - £11,650) to its subsidiary. This loan is interest free and repayable on demand.
Summary of transactions with other related parties
On 1 August 2023 the company acquired the entire share capital of Panelworks Limited from Mrs J Goulden, wife of director, Mr J Goulden. The total consideration was £520,000. At the year end a balance of £Nil (2024 - £104,000) remained outstanding to Mrs J Goulden. No interest was payable on this outstanding balance.
Yorkshire Caravans & Motorhomes Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Income and receivables from related parties
|
2025 |
Subsidiary |
|
Amounts receivable from related party |
- |
|
|
|
|
2024 |
Subsidiary |
|
Amounts receivable from related party |
|
|
|
|
Expenditure with and payables to related parties
|
2025 |
Subsidiary |
|
Amounts payable to related party |
- |
|
|
|
|
2024 |
Subsidiary |
|
Amounts payable to related party |
|
|
|
|
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of Yorkshire Caravans Group Limited is:
Bawtry
Doncaster
South Yorkshire
DN10 6DG