

	Company registration number:	4558548






A B CARAVANS LIMITED

REPORT OF THE DIRECTORS' AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 October 2017



A B CARAVANS LIMITED

BALANCE SHEET

AS AT 31 October 2017


		2017		2016
	Notes	£	£	£	£

FIXED ASSETS
Intangible assets	3		15,000		18,000
Tangible assets	4		11,838		14,958

			26,838		32,958

CURRENT ASSETS
Stocks		162,488		125,210
Debtors		24,780		33,312
Cash at bank and in hand		468		3,475

		187,736		161,997

CREDITORS
Amounts falling due within one year		(96,470)		(139,047)

NET CURRENT ASSETS			91,266		22,950

TOTAL ASSETS LESS
CURRENT LIABILITIES			118,104		55,908


PROVISIONS FOR LIABILITIES			(2,249)		(2,810)

NET ASSETS			115,855		53,098



CAPITAL AND RESERVES
Called-up equity share capital			2		2
Profit and loss account			115,853		53,096

SHAREHOLDERS FUNDS			115,855		53,098


For the year ending 31 October 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.


The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.


All the members have consented to the preparation of abridged financial statements for the year ended 31 October 2017 in accordance with Section 444(2A) of the Companies Act 2006.


The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.


These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 26 June 2018 and signed on its behalf.



..........................................................................
A Brooks

26 June 2018
The annexed notes form part of these financial statements.

A B CARAVANS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Accounting policies

Statutory information

A B Caravans Limited 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. The presentation currency of the financial statements is the £ sterling.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover represents the value of goods sold and work done during the year exclusive of value added tax. Turnover is recognised when the company obtains the right to receive consideration for the provision of services to its customers.

Intangible Assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life of 10 years.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & equipment - 20% reducing balance basis

Motor vehicles - 25% reducing balance basis

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset from which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment cease to apply.

Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, 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.

Stocks and Work In Progress

Stocks are valued at the lower of cost and net realisable value. Cost is ascertained by the purchase price of the goods. Net realisable value is based on an estimated selling price, less further costs to be incurred to completion and disposal. Provision is also made fo obsolete, slow-moving and defective items, where appropriate.

Financial Instruments

Basic Financial Instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account. Debtors Short term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method. Classification of Financial Liabilities 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 substantively enacted by the balance sheet date.

Deferred Taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Pension Scheme

The company operates a defined contribution pension scheme, Prudential pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Employees

The average number of persons employed by the company (including directors during the year was 2 (2016 : 2).



3.	Intangible fixed assets
		Total

	Cost
	At start of period	30,000
	At end of period	30,000

	Amortisation
	At start of period	12,000
	Provided during the period	3,000
	At end of period	15,000

	Net Book Values
	At start of period	18,000
	At end of period	15,000



4.	Tangible fixed assets

		Total

	Cost
	At start of period	88,372
	At end of period	88,372

	Depreciation
	At start of period	73,414
	Provided during the period	3,120
	At end of period	76,534

	Net Book Value
	At start of period	14,958
	At end of period	11,838



5.	Related Party Transactions
	Dividends paid to the directors



		2017	2016
		£	£
	A Brooks	5,000	21,000
	R F Brooks	5,000	21,000




6.	Pension costs
	The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.