Company No: 10345749 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,415,767		1,295,511
		1,415,767		1,295,511
Current assets
Stocks	4	4,607,943		4,302,941
Debtors	5	570,334		525,491
Cash at bank and in hand		1,138,051		352,664
		6,316,328		5,181,096
Creditors: amounts falling due within one year	6	( 5,653,377)		( 4,141,580)
Net current assets		662,951		1,039,516
Total assets less current liabilities		2,078,718		2,335,027
Creditors: amounts falling due after more than one year	7	( 1,161,585)		( 1,730,663)
Provision for liabilities	8	( 123,235)		( 48,708)
Net assets		793,898		555,656
Capital and reserves
Called-up share capital		100		100
Profit and loss account		793,798		555,556
Total shareholder's funds		793,898		555,656

For the financial year ending 31 October 2025 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 28 July 2026. They were signed on its behalf by:

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 year, unless otherwise stated.

General information and basis of accounting

Van Haven 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 Unit 1 - 4 St Patrick's Industrial Estate, Shillingstone, Dorset, DT11 0SA, United Kingdom.

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 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. Customer deposits and receipts in advance are held in accruals and deferred income until work is complete.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

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:

Leasehold improvements	20 years straight line
	not depreciated
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

Stock comprises of vehicle purchase costs and costs of parts. 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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Work in progress includes materials and direct labour costs incurred to refurbish vehicles. Costs are recognised by reference to the stage of completion of the refurbishment at the Balance Sheet date.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks and work in progress 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

Government grants

Government grants are recognised within other operating income based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	30		25

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 November 2024	1,101,254		112,488		167,690		7,955		51,205		1,440,592
Additions	90,959		30,394		57,426		0		9,731		188,510
Disposals	0		( 199)		( 7,250)		0		0		( 7,449)
At 31 October 2025	1,192,213		142,683		217,866		7,955		60,936		1,621,653
Accumulated depreciation
At 01 November 2024	3,509		74,387		50,105		4,521		12,559		145,081
Charge for the financial year	610		14,525		38,544		859		11,026		65,564
Disposals	0		( 137)		( 4,622)		0		0		( 4,759)
At 31 October 2025	4,119		88,775		84,027		5,380		23,585		205,886
Net book value
At 31 October 2025	1,188,094		53,908		133,839		2,575		37,351		1,415,767
At 31 October 2024	1,097,745		38,101		117,585		3,434		38,646		1,295,511

4. Stocks

	2025		2024
	£		£
Stocks	3,528,120		3,638,970
Work in progress	1,079,823		663,971
	4,607,943		4,302,941

5. Debtors

	2025		2024
	£		£
Trade debtors	75,347		32,485
Amounts owed by connected companies	24,614		12,638
Prepayments	463,536		477,868
Other debtors	6,837		2,500
	570,334		525,491

Amounts owed by connected companies are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	529,097		1,085,279
Trade creditors	677,924		580,045
Amounts owed to Group undertakings	341,531		219,316
Accruals and deferred income	2,089,546		1,813,552
Corporation tax	54,814		293,959
Other taxation and social security	174,001		63,869
Obligations under finance leases and hire purchase contracts (secured)	1,751,984		34,145
Other creditors	34,480		51,415
	5,653,377		4,141,580

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

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

	2025		2024
	£		£
Bank loans (secured)	9,710		537,165
Amounts owed to Group undertakings	1,000,000		1,000,000
Obligations under finance leases and hire purchase contracts (secured)	151,875		193,498
	1,161,585		1,730,663

Bank loans and overdrafts of £532,155 (2024 - £1,622,444) are secured with a fixed and floating charge against the company's assets.

The obligations under finance leases and hire purchase contracts are secured on the underlying assets which are included within the company's fixed assets and stock. The carrying amount of the relevant assets at the balance sheet date is £3,201,521 (2024 - £3,242,741)

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	123,235		48,708

9. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.

10. Ultimate controlling party

The company's immediate parent is Lliwetto Holdings Limited, incorporated in England and Wales. Its registered office address is Unit 1-4 St Patrick's Industrial Estate, Shillingstone, Dorset, DT11 0SA.
These financial statements are available upon request from Companies House, Cardiff.