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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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FIRST ASSET RV LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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FOR |
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FIRST ASSET RV LIMITED |
FIRST ASSET RV LIMITED (REGISTERED NUMBER: 04036652) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FIRST ASSET RV LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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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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E3 The Premier Centre |
Abbey Park |
Romsey |
Hampshire |
SO51 9DG |
FIRST ASSET RV LIMITED (REGISTERED NUMBER: 04036652) |
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BALANCE SHEET |
30 SEPTEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
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Retained earnings |
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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 |
(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. |
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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 on
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FIRST ASSET RV LIMITED (REGISTERED NUMBER: 04036652) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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1. | STATUTORY INFORMATION |
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First Asset RV Limited is a
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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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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 represents the value of commissions receivable (excluding VAT) in respect of completed transactions |
in the year and rentals receivable. |
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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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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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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Directors' current accounts | 10 | 10 |
VAT |
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FIRST ASSET RV LIMITED (REGISTERED NUMBER: 04036652) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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VAT | 8,648 | - |
Accrued expenses |
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5. | CAPITAL COMMITMENTS |
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The company has entered into an agreement to purchase an equipment at a cost of £106,500, which is payable on |
24 March 2022. This represents the present value of the estimated residual value of the asset which is currently |
held under leasing arrangement by third parties, which was facilitated by the company. The directors are |
satisfied that the commitment represent a fair value of the asset. |
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This amount has not been provided for in these financial statements. |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 September 2018 and |
30 September 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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7. | ULTIMATE CONTROLLING PARTY |
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FAF Holdings Limited, a company incorporated in England and Wales, with registered office at Capital Tower, |
91 Waterloo Road, London SE1 8RT , United Kingdom, is the immediate parent company. FAF Investments |
Limited, a company incorporated in England and Wales, with registered office at Capital Tower, 91 Waterloo |
Road, London, SE1 8RT, United Kingdom, is the ultimate parent company. |
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At the year end the parent undertaking of the smallest and the largest group of undertakings for which group |
financial statements are drawn up and of which the company is a member is FAF Investments Limited. Copies of |
the group financial statements of FAF Investments Limited are available at Companies House, Crown Way, |
Cardiff, CF14 3UZ. |
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The ultimate controlling party is considered to be Mr S Jones, a director of the company as well as the majority |
shareholder in FAF Investments Limited. |