Truck World (UK) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07576075 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Truck World (UK) Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

Mr Hiral Trivedi

Mr Najmal Abba

REGISTERED OFFICE:

Oxney Road Industrial Estate Oxney Road

Fengate

Peterborough

PE1 5YW

REGISTERED NUMBER:

07576075 (England and Wales)

ACCOUNTANTS:

Accountancy Solutions

143 Eastfield Road

Peterborough

Cambridgeshire

PE1 4AU

FIXED ASSETS

Property, plant and equipment

4

7,471

9,340

CURRENT ASSETS

Inventories

5

356,419

669,234

Debtors

6

655,291

85,127

Cash at bank and in hand

24,553

154,386

1,036,263

908,747

CREDITORS

Amounts falling due within one year

7

816,587

740,275

NET CURRENT ASSETS

219,676

168,472

TOTAL ASSETS LESS CURRENT LIABILITIES

227,147

177,812

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

227,047

177,712

SHAREHOLDERS' FUNDS

227,147

177,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 2 July 2023 and were signed on its behalf by:

Mr Hiral Trivedi - Director

1.	STATUTORY INFORMATION

Truck World (UK) Ltd 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

Revenue 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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

10,398

3,409

13,807

DEPRECIATION

At 1 April 2022

2,804

1,663

4,467

Charge for year

1,519

350

1,869

At 31 March 2023

4,323

2,013

6,336

NET BOOK VALUE

At 31 March 2023

6,075

1,396

7,471

At 31 March 2022

7,594

1,746

9,340

5.	INVENTORIES

31.3.23

31.3.22

£

£

Stocks

356,419

669,234

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade Debtors

616,817

60,100

Temp Loan Account

-

1,000

Value Added Tax

37,979

23,752

Prepayments

495

275

655,291

85,127

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade Creditors

421,632

358,761

Wages Payable

1,009

-

Corporation Tax

28,885

24,298

Social security and other taxes

232

147

Pension

45

-

Other creditors

7,715

-

Directors' current accounts

357,069

357,069

816,587

740,275

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary Share

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2022

177,712

Profit for the year

121,335

Dividends

(72,000

)

At 31 March 2023

227,047

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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Accountancy Solutions

143 Eastfield Road

Peterborough

Cambridgeshire

PE1 4AU

Date: .............................................