Overton Vehicle Overhauls Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04054368 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Overton Vehicle Overhauls Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E S Overton

D E S Overton

REGISTERED OFFICE:

1 Sopwith Crescent

Wickford

Essex

SS11 8YU

REGISTERED NUMBER:

04054368 (England and Wales)

ACCOUNTANTS:

Sygma Chartered Accountants

1 Sopwith Crescent

Wickford

Essex

SS11 8YU

FIXED ASSETS

Tangible assets

4

181,644

186,328

CURRENT ASSETS

Stocks

6,250

6,046

Debtors

5

15,076

36,027

Cash at bank

85,450

65,112

106,776

107,185

CREDITORS

Amounts falling due within one year

6

287,674

292,867

NET CURRENT LIABILITIES

(180,898

)

(185,682

)

TOTAL ASSETS LESS CURRENT LIABILITIES

746

646

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

646

546

SHAREHOLDERS' FUNDS

746

646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2023 and were signed on its behalf by:

D E S Overton - Director

1.	STATUTORY INFORMATION

Overton Vehicle Overhauls 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 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. 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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 7 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2021

and 30 April 2022

194,828

4,200

199,028

DEPRECIATION

At 1 May 2021

11,650

1,050

12,700

Charge for year

3,896

788

4,684

At 30 April 2022

15,546

1,838

17,384

NET BOOK VALUE

At 30 April 2022

179,282

2,362

181,644

At 30 April 2021

183,178

3,150

186,328

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade debtors

5,817

36,027

Other debtors

9,259

-

15,076

36,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans and overdrafts

878

-

Trade creditors

661

6,867

Taxation and social security

8,637

14,563

Other creditors

277,498

271,437

287,674

292,867