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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30th September 2020 |
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Camping & Leisure World Limited |
REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30th September 2020 |
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for |
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Camping & Leisure World Limited |
Camping & Leisure World Limited (Registered number: 04231477) |
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Contents of the Financial Statements |
for the Year Ended 30th September 2020 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Camping & Leisure World Limited |
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Company Information |
for the Year Ended 30th September 2020 |
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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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ACCOUNTANTS: |
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70 South Street |
Lancing |
West Sussex |
BN15 8AJ |
Camping & Leisure World Limited (Registered number: 04231477) |
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Report of the Directors |
for the Year Ended 30th September 2020 |
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The directors present their report with the financial statements of the company for the year ended 30th September 2020. |
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REVIEW OF BUSINESS |
The directors recognise in the financial statements the significant challenges faced by the |
Company in responding to both Brexit and the Covid-19 pandemic. |
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During the period covered by the financial statements all of the Company's retail premises |
were subject to periods of mandatory closures as part of the UK's Covid-19 response. Following |
the subsequent re-openings in 2020 customer footfall was initially hesitant at returning to |
pre-Covid levels. Throughout the pandemic the Company has adapted to the trading |
challenges presented, although altered consumer buying patterns and the higher costs of |
supply and distribution as a result of Covid-19 pressures on the UK and worldwide carrier |
network are reflected in these financial statements. |
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The Company's dedicated fulfilment centre in Aldershot, UK remained open and operational |
throughout the pandemic. It should be noted that the stock and consignment handling changes |
required post-Brexit led to a temporary increase in labour and administration costs whilst the |
Company adapted and developed new technology to meet the new regulations. |
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It is noted that at the time of the pandemic the Company held business interruption insurance |
cover with a valid pandemic clause and that their insurers have admitted liability for a claim as |
a result of Covid-19 closures; it is expected that this will meet some of the cost implications of |
the Company's Covid-19 response. In addition, the Company made use of government CBIL |
facilities, business rate reduction and various other funding available to the Company to satisfy |
its Covid-19 response requirements - the benefit of these will largely be seen in the 2021 |
financial statements. |
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In early 2020 the Company invested in and opened a new retail outlet in Chichester, West |
Sussex which opened to the public in February 2020, shortly before the first Covid-19 |
lockdown. After re-opening the store has made strong and steady progress towards reaching |
pre-Covid trading targets. The directors note that there are currently well-developed plans to |
open a new retail outlet in early 2022. |
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As a result of challenges in the supply chain, to meet current demand the Company has |
adapted its business model to hold greater levels of stock, and has expanded both its product |
range and supply routes in order to better meet future consumer demand. In particular, at the |
start of the pandemic the directors worked hard to secure, and pro-actively invested in, supply |
for the 2021 season in anticipation of higher than forecast demand. As a result the Company |
has seen a significant increase in turnover and a subsequent return to healthy profit for the |
2021 financial year. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from |
1st October 2019 to the date of this report. |
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Camping & Leisure World Limited (Registered number: 04231477) |
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Report of the Directors |
for the Year Ended 30th September 2020 |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies |
Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Camping & Leisure World Limited (Registered number: 04231477) |
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Balance Sheet |
30th September 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one
year |
7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more
than one year |
8 |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
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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. |
Camping & Leisure World Limited (Registered number: 04231477) |
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Balance Sheet - continued |
30th September 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Camping & Leisure World Limited (Registered number: 04231477) |
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Notes to the Financial Statements |
for the Year Ended 30th September 2020 |
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1. | STATUTORY INFORMATION |
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Camping & Leisure World Limited is a
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England and Wales. The company's registered number and registered office address can |
be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, |
excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due |
allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Camping & Leisure World Limited (Registered number: 04231477) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but |
not reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis |
over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st October 2019 |
and 30th September 2020 |
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AMORTISATION |
At 1st October 2019 |
and 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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Camping & Leisure World Limited (Registered number: 04231477) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st October 2019 |
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Additions |
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At 30th September 2020 |
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DEPRECIATION |
At 1st October 2019 |
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Charge for year |
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At 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts (see
note 9) |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans (see note 9) |
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Camping & Leisure World Limited (Registered number: 04231477) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2020 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2020 | 2019 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Amounts falling due between two and five years: |
CBIL loans - 2-5 years |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1st October 2019 |
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Deficit for the year | ( |
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At 30th September 2020 | ( |
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