Northampton Van Centre Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07463263 (England and Wales)

Financial Statements for the Year Ended 30 April 2022

for

Northampton Van Centre Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

Chartered Accountants' Report

7

DIRECTORS:

Mrs S Morris

A Morris

REGISTERED OFFICE:

101 St James Mill Road

Northampton

NN5 5JP

REGISTERED NUMBER:

07463263 (England and Wales)

ACCOUNTANTS:

CED Accountancy Services Limited

1 Lucas Bridge Business Park

1 Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

FIXED ASSETS

Tangible assets

3

23,240

-

CURRENT ASSETS

Stocks

660,998

626,246

Debtors

119,057

60,590

Cash at bank

6,485

20,083

786,540

706,919

CREDITORS

Amounts falling due within one year

453,445

485,151

NET CURRENT ASSETS

333,095

221,768

TOTAL ASSETS LESS CURRENT LIABILITIES

356,335

221,768

CREDITORS

Amounts falling due after more than one year

4

50,557

41,295

NET ASSETS

305,778

180,473

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

305,678

180,373

SHAREHOLDERS' FUNDS

305,778

180,473

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 April 2023 and were signed on its behalf by:

Mrs S Morris - Director

A Morris - Director

1.	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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

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.

2.	EMPLOYEES AND DIRECTORS

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

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

24,900

At 30 April 2022

24,900

DEPRECIATION

Charge for year

1,660

At 30 April 2022

1,660

NET BOOK VALUE

At 30 April 2022

23,240

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

Totals

£

COST

Additions

24,900

At 30 April 2022

24,900

DEPRECIATION

Charge for year

1,660

At 30 April 2022

1,660

NET BOOK VALUE

At 30 April 2022

23,240

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.22

30.4.21

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

886

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northampton Van Centre Limited for the year ended 30 April 2022 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Northampton Van Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northampton Van Centre Limited and state those matters that we have agreed to state to the Board of Directors of Northampton Van Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northampton Van Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Northampton Van Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northampton Van Centre Limited. You consider that Northampton Van Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Northampton Van Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

CED Accountancy Services Limited

1 Lucas Bridge Business Park

1 Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

26 April 2023