Honeywell Vehicle Solutions Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11690251 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Honeywell Vehicle Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Honeywell

REGISTERED OFFICE:

14 Forbench Close

Ripley

Woking

Surrey

GU23 6DY

REGISTERED NUMBER:

11690251 (England and Wales)

ACCOUNTANTS:

J.Y. Limited

Rangefield Court

Farnham Trading Estate

Farnham

Surrey

GU9 9NP

FIXED ASSETS

Tangible assets

4

-

5,140

CURRENT ASSETS

Stocks

-

250

Debtors

5

9,422

14,746

Cash at bank

330

6,751

9,752

21,747

CREDITORS

Amounts falling due within one year

6

15,680

16,990

NET CURRENT (LIABILITIES)/ASSETS

(5,928

)

4,757

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,928

)

9,897

CREDITORS

Amounts falling due after more than one year

7

8,120

10,509

NET LIABILITIES

(14,048

)

(612

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

(14,050

)

(614

)

SHAREHOLDERS' FUNDS

(14,048

)

(612

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 February 2023 and were signed by:

D Honeywell - Director

1.	STATUTORY INFORMATION

Honeywell Vehicle Solutions 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.

Goodwill

Franchise, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2021

10,000

370

10,370

Disposals

(10,000

)

-

(10,000

)

At 31 March 2022

-

370

370

DEPRECIATION

At 1 April 2021

4,990

240

5,230

Charge for year

-

130

130

Eliminated on disposal

(4,990

)

-

(4,990

)

At 31 March 2022

-

370

370

NET BOOK VALUE

At 31 March 2022

-

-

-

At 31 March 2021

5,010

130

5,140

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Directors' current accounts

5,805

11,129

Tax

3,617

3,617

9,422

14,746

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

2,556

1,491

Trade creditors

185

245

Tax

-

7,209

Social security and other taxes

566

152

VAT

4,998

7,293

Other creditors

6,800

-

Accrued expenses

575

600

15,680

16,990

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 2-5 years

8,120

10,509

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 April 2021

(614

)

Deficit for the year

(13,436

)

At 31 March 2022

(14,050

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2022 and the period ended 31 March 2021:

31.3.22

31.3.21

£

£

D Honeywell

Balance outstanding at start of year

11,129

-

Amounts advanced

-

11,129

Amounts repaid

(5,324

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,805

11,129

Interest has been charged on the loan between the director and the company at the official market rate.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the figure of £6,800 in Other creditors represents money owing to Brook Willow Motors Ltd, a company related by common control and ownership.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Honeywell.