Crusader Vehicles Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06203641 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2019 TO 30 MARCH 2020

FOR

CRUSADER VEHICLES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms L M Shoebridge

K Shoebridge

D R Shoebridge

REGISTERED OFFICE:

Crusader House

High Street

Buxted

TN22 4LA

REGISTERED NUMBER:

06203641 (England and Wales)

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

5

98,486

36,647

CURRENT ASSETS

Stocks

6

36,858

121,138

Debtors

7

419,364

676,049

Cash at bank and in hand

188,676

62,910

644,898

860,097

CREDITORS

Amounts falling due within one year

8

303,165

595,954

NET CURRENT ASSETS

341,733

264,143

TOTAL ASSETS LESS CURRENT LIABILITIES

440,219

300,790

CREDITORS

Amounts falling due after more than one year

9

(68,944

)

-

PROVISIONS FOR LIABILITIES

(18,713

)

(7,426

)

NET ASSETS

352,562

293,364

CAPITAL AND RESERVES

Called up share capital

10

300

300

Retained earnings

352,262

293,064

SHAREHOLDERS' FUNDS

352,562

293,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2020 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2021 and were signed on its behalf by:

D R Shoebridge - Director

1.	STATUTORY INFORMATION

Crusader Vehicles 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 Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Improvements to property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer Equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 24 (2019 - 17 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2019

8,297

27,379

10,599

Additions

4,755

850

-

At 30 March 2020

13,052

28,229

10,599

DEPRECIATION

At 1 April 2019

201

9,926

2,650

Charge for period

259

4,574

2,650

At 30 March 2020

460

14,500

5,300

NET BOOK VALUE

At 30 March 2020

12,592

13,729

5,299

At 31 March 2019

8,096

17,453

7,949

Motor

Computer

vehicles

Equipment

Totals

£

£

£

COST

At 1 April 2019

-

19,839

66,114

Additions

85,753

1,924

93,282

At 30 March 2020

85,753

21,763

159,396

DEPRECIATION

At 1 April 2019

-

16,690

29,467

Charge for period

21,439

2,521

31,443

At 30 March 2020

21,439

19,211

60,910

NET BOOK VALUE

At 30 March 2020

64,314

2,552

98,486

At 31 March 2019

-

3,149

36,647

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

85,753

At 30 March 2020

85,753

DEPRECIATION

Charge for period

21,439

At 30 March 2020

21,439

NET BOOK VALUE

At 30 March 2020

64,314

6.

STOCKS

2020

2019

£

£

Stocks

36,858

63,866

Fleet stock

-

57,272

36,858

121,138

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

19,736

253,118

Other debtors

357,514

369,224

Accrued income

16,500

18,036

Accruals

25,614

-

Prepayments

-

35,671

419,364

676,049

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other loans

-

54,350

Hire purchase contracts

15,714

-

Trade creditors

174,394

418,633

Tax

13,246

24,622

Social security and other taxes

9,032

5,901

VAT

48,714

40,308

Other creditors

27,954

29,549

Accruals and deferred income

6,000

-

Accrued expenses

8,111

22,591

303,165

595,954

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

68,944

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

100

Ordinary C

£1

100

100

300

300

11.	POST BALANCE SHEET EVENTS

Before the balance sheet date but prior to the approval of these accounts an outbreak of the COVID-19 virus occurred causing a global pandemic recognised by the World Health Organisation (WHO).

The effect of UK Government measures to limit the spread of the virus have been widespread, urging people to remain at home wherever possible, including to work from home if available and to undertake "social distancing" measures. Part of the government action has been to order businesses where people gather socially to close temporarily.

In response to this management of the company have assessed the impact of these measures and have applied to take up the UK Government's unprecedented business aid package.

The directors continue to monitor the situation as it rapidly changes and will react to further developments.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Shoebridge, Mr K Shoebridgeand Mrs L Shoebridge.

This was by virtue of their equal holding of the issued share capital in the holding company.