REGISTERED NUMBER: 06480292 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

A & G CARAVANS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Fell

J A Fell

SECRETARY:

J A Fell

REGISTERED OFFICE:

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

REGISTERED NUMBER:

06480292 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

BANKERS:

Yorkshire Bank

28 Queen Street

Bridlington

East Yorkshire

YO15 2SW

FIXED ASSETS

Intangible assets

4

33,000

36,000

Tangible assets

5

41,272

40,194

74,272

76,194

CURRENT ASSETS

Stocks

60,242

47,288

Debtors

6

15,763

24,222

Cash at bank and in hand

3,474

29,697

79,479

101,207

CREDITORS

Amounts falling due within one year

7

89,307

113,825

NET CURRENT LIABILITIES

(9,828

)

(12,618

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,444

63,576

CREDITORS

Amounts falling due after more than one year

8

(12,364

)

(16,625

)

PROVISIONS FOR LIABILITIES

(7,842

)

(8,039

)

NET ASSETS

44,238

38,912

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

44,138

38,812

SHAREHOLDERS' FUNDS

44,238

38,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 5 October 2017 and were signed on its behalf by:

M Fell - Director

1.	STATUTORY INFORMATION

A & G 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

The company has adopted FRS 102 1A for small entities in these financial statements however, due to the nature

of the company's trade, assets and liabilities, there are no transitional adjustments.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2016

and 28 February 2017

60,000

AMORTISATION

At 1 March 2016

24,000

Charge for year

3,000

At 28 February 2017

27,000

NET BOOK VALUE

At 28 February 2017

33,000

At 29 February 2016

36,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2016

74,149

Additions

16,358

Disposals

(8,894

)

At 28 February 2017

81,613

DEPRECIATION

At 1 March 2016

33,955

Charge for year

13,169

Eliminated on disposal

(6,783

)

At 28 February 2017

40,341

NET BOOK VALUE

At 28 February 2017

41,272

At 29 February 2016

40,194

The net book value of tangible fixed assets includes £ 35,847 (2016 - £ 34,438 ) in respect of assets held under

hire purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

14,395

23,118

Other debtors

1,368

1,104

15,763

24,222

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Bank loans and overdrafts

381

-

Hire purchase contracts

12,965

9,997

Trade creditors

23,489

19,746

Taxation and social security

9,492

16,674

Other creditors

42,980

67,408

89,307

113,825

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

29.2.16

£

£

Hire purchase contracts

12,364

16,625

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.17

29.2.16

£

£

Bank overdraft

381

-

Hire purchase contracts

25,329

26,622

25,710

26,622

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.17

29.2.16

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have given personal guarantees over the company's bank borrowings.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by M Fell and J A Fell.