Castle Vehicle Servicing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 13577721 (England and Wales)

Unaudited Financial Statements

For The Period 20 August 2021 to 31 May 2022

for

Castle Vehicle Servicing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D A Browne

Mr B P Lennon

Mr L A Mayne

Mr J M B Strowbridge

Mrs R M Robins

REGISTERED OFFICE:

Units 1 & 2 Heathfield Way

Kings Heath Industrial Estate

Northampton

NORTHAMPTONSHIRE

NN5 7QP

REGISTERED NUMBER:

13577721 (England and Wales)

ACCOUNTANTS:

Harris & Clarke LLP

7 Billing Road

Northampton

NORTHAMPTONSHIRE

NN1 5AN

FIXED ASSETS

Intangible assets

4

1,147

Tangible assets

5

183,578

184,725

CURRENT ASSETS

Stocks

5,258

Debtors

6

102,784

Cash at bank and in hand

53,934

161,976

CREDITORS

Amounts falling due within one year

7

312,558

NET CURRENT LIABILITIES

(150,582

)

TOTAL ASSETS LESS CURRENT LIABILITIES

34,143

CREDITORS

Amounts falling due after more than one year

8

(14,567

)

PROVISIONS FOR LIABILITIES

(35,098

)

NET LIABILITIES

(15,522

)

CAPITAL AND RESERVES

Called up share capital

5

Retained earnings

(15,527

)

(15,522

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 14 February 2023 and were signed on its behalf by:

Mr L A Mayne - Director

Mrs R M Robins - Director

1.	STATUTORY INFORMATION

Castle Vehicle Servicing 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.

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.

Brand design costs are being amortised evenly over their estimated useful life of three years.

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.

Plant and machinery etc

-

25% on reducing balance and at varying rates on cost

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 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 contributes to employees defined contribution pension schemes. Contributions payable to these schemes are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

1,470

At 31 May 2022

1,470

AMORTISATION

Charge for period

323

At 31 May 2022

323

NET BOOK VALUE

At 31 May 2022

1,147

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

Additions

22,220

166,568

3,460

192,248

At 31 May 2022

22,220

166,568

3,460

192,248

DEPRECIATION

Charge for period

196

8,081

393

8,670

At 31 May 2022

196

8,081

393

8,670

NET BOOK VALUE

At 31 May 2022

22,024

158,487

3,067

183,578

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

Plant and

machinery

£

COST

Additions

24,210

At 31 May 2022

24,210

DEPRECIATION

Charge for period

4,035

At 31 May 2022

4,035

NET BOOK VALUE

At 31 May 2022

20,175

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

84,357

Other debtors

18,427

102,784

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

5,463

Trade creditors

204,860

Amounts owed to group undertakings

98,050

Other creditors

4,185

312,558

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

14,567

9.	RELATED PARTY DISCLOSURES

The company is a subsidiary of Castle Coachworks (Northampton) Limited.

There is no ultimate controlling party