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REGISTERED NUMBER:
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Delta Caravans Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 28th February 2019 |
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REGISTERED NUMBER:
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Delta Caravans Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 28th February 2019 |
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Delta Caravans Limited (Registered number: 02848084) |
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Contents of the Financial Statements |
for the year ended 28th February 2019 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 4 |
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Income Statement | 7 |
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Other Comprehensive Income | 8 |
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Balance Sheet | 9 |
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Statement of Changes in Equity | 10 |
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Notes to the Financial Statements | 11 |
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Delta Caravans Limited |
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Company Information |
for the year ended 28th February 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
Delta Caravans Limited (Registered number: 02848084) |
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Strategic Report |
for the year ended 28th February 2019 |
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The directors present their strategic report for the year ended 28th February 2019. |
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REVIEW OF BUSINESS |
The company has performed strongly and is well positioned to maintain this level of performance. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
Risks are seen as the general economic climate and the consequent effect on the level of disposable income |
and global raw material costs, neither of which are to a material extent within the company's control. |
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KEY PERFORMANCE INDICATORS |
The key performance indicators are turnover and profitability, which are evident from the financial statements. |
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ON BEHALF OF THE BOARD: |
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Delta Caravans Limited (Registered number: 02848084) |
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Report of the Directors |
for the year ended 28th February 2019 |
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The directors present their report with the financial statements of the company for the year ended 28th February 2019. |
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DIVIDENDS |
An interim dividend of £ final dividend be paid. |
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The total distribution of dividends for the year ended 28th February 2019 will be £
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st March 2018 to the date of |
this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial |
statements in accordance with applicable law and regulations. |
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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 then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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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. |
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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. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps |
that he ought to have taken as a director in order to make himself aware of any relevant audit information and |
to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
Delta Caravans Limited |
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Opinion |
We have audited the financial statements of Delta Caravans Limited (the 'company') for the year ended |
28th February 2019 which comprise the Income Statement, Other 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). |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 28th February 2019 and of its profit for
the year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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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 Auditors' |
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. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to |
report to you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the |
Strategic Report and the Report of the Directors, but does not include the financial statements and our Report |
of the Auditors thereon. |
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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. |
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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. |
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Opinions on other matters 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 the Report of the Directors 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 the Report of the Directors have been prepared in accordance with applicable
legal requirements. |
Report of the Independent Auditors to the Members of |
Delta Caravans Limited |
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Matters on which we are required to report by exception |
In the light of the 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 or the Report of the Directors. |
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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: |
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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. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 necessary to enable the preparation of financial |
statements that are free from material misstatement, whether due to fraud or error. |
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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. |
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Auditors' 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 a Report of the Auditors 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. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our |
Report of the Auditors. |
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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. |
Report of the Independent Auditors to the Members of |
Delta Caravans Limited |
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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 a Report of the Auditors 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
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
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Delta Caravans Limited (Registered number: 02848084) |
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Income Statement |
for the year ended 28th February 2019 |
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2019 | 2018 |
Notes | £ | £ |
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TURNOVER | 2 |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT |
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Income from shares in group
undertakings |
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996,493 | 620,555 |
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Interest payable and similar expenses | 4 |
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PROFIT BEFORE TAXATION | 5 |
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Tax on profit | 6 |
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PROFIT FOR THE FINANCIAL YEAR |
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Delta Caravans Limited (Registered number: 02848084) |
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Other Comprehensive Income |
for the year ended 28th February 2019 |
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2019 | 2018 |
Notes | £ | £ |
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PROFIT FOR THE YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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Delta Caravans Limited (Registered number: 02848084) |
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Balance Sheet |
28th February 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 8 |
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CURRENT ASSETS |
Debtors | 9 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 10 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Capital redemption reserve | 12 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Delta Caravans Limited (Registered number: 02848084) |
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Statement of Changes in Equity |
for the year ended 28th February 2019 |
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Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1st March 2017 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 28th February 2018 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 28th February 2019 |
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Delta Caravans Limited (Registered number: 02848084) |
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Notes to the Financial Statements |
for the year ended 28th February 2019 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
Delta Caravans Limited is a limited company incorporated in the United Kingdom. The address of the |
registered office is given in the company information on page 1 of these financial statements. |
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The financial statements have been prepared in accordance with applicable accounting standards |
including Financial Reporting Standard FRS 102: The Financial Reporting Standard Applicable in the |
UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have |
been prepared on a going concern basis under the historical cost convention, modified to include |
certain items at fair value. |
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The significant accounting policies applied in the preparation of these financial statements are set out |
below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial |
statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows. |
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Preparation of consolidated financial statements |
The financial statements contain information about Delta Caravans 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 requirements to prepare consolidated |
financial statements as it and its subsidiary undertaking are included by full consolidation in the |
consolidated financial statements of its parent, Delta Caravans Holdings Limited, a company |
registered in England and Wales. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is the amount, excluding value added tax, receivable in the ordinary course of business for |
goods supplied as a principal and for services provided. |
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2. | TURNOVER |
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The turnover and profit before taxation are attributable to the one principal activity of the company. |
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3. | EMPLOYEES AND DIRECTORS |
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There were no staff costs for the year ended 28th February 2019 nor for the year ended 28th February |
2018. |
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4. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2019 | 2018 |
£ | £ |
Bank loan interest |
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5. | PROFIT BEFORE TAXATION |
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Profit/(Loss) is stated after charging Directors' remuneration. However, there was no Directors' |
remuneration for the year ended 28th February 2019 nor for the year ended 28th February 2018. |
Delta Caravans Limited (Registered number: 02848084) |
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Notes to the Financial Statements - continued |
for the year ended 28th February 2019 |
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6. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2019 | 2018 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The |
difference is explained below: |
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2019 | 2018 |
£ | £ |
Profit before tax |
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Profit multiplied by the standard rate of corporation tax in the UK of
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Effects of: |
Income not taxable for tax purposes | ( |
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Change in tax rates |
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Total tax charge | 94,330 | 23,007 |
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7. | DIVIDENDS |
2019 | 2018 |
£ | £ |
Ordinary shares of £1 each |
Interim |
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8. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1st March 2018 |
and 28th February 2019 |
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NET BOOK VALUE |
At 28th February 2019 |
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At 28th February 2018 |
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Delta Caravans Limited (Registered number: 02848084) |
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Notes to the Financial Statements - continued |
for the year ended 28th February 2019 |
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8. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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2019 | 2018 |
£ | £ |
Aggregate capital and reserves |
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Profit for the year |
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9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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Tax |
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Other creditors |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 |
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200,000 |
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12. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
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At 1st March 2018 |
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297,543 |
Profit for the year |
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Dividends | ( |
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At 28th February 2019 |
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499,686 |
Delta Caravans Limited (Registered number: 02848084) |
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Notes to the Financial Statements - continued |
for the year ended 28th February 2019 |
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13. | ULTIMATE PARENT COMPANY |
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Delta Caravans Holdings Limited, a company incorporated in England and Wales is the company's |
ultimate holding company as it owns 100% of the issued share capital of the company. Delta |
Caravans Holdings Limited is controlled by M Isaac, a director of this company, by virtue of him owning |
100% of the issued ordinary share capital. |
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Delta Caravans Holdings Limited is the parent undertaking of the group for which group accounts are |
prepared and of which the company is a member. Copies of Delta Caravans Holdings Limited |
accounts can be obtained from Companies House, Crown Way, Cardiff, CF4 3UZ. |
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14. | CONTINGENT LIABILITIES |
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The company is party to a cross corporate guarantee and a debenture over the whole of the |
company's assets in respect of the debts of Delta Caravans International Limited and Delta Caravans |
Holdings Limited to its bankers. The maximum liability under this arrangement is £nil (2018 £nil). |
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The company is part of a group VAT registration. At 28 February 2019 the potential liability of this |
company under the registration was £Nil (2018 £Nil). |
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15. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of the exemptions available under Financial Reporting Standard |
No 8 in respect of transactions and balances with its fellow group companies. |