Unit One Vehicle Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04660922 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

UNIT ONE VEHICLE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Kettle

A Kettle

SECRETARY:

A Kettle

REGISTERED OFFICE:

Bank Gallery

High Street

Kenilworth

CV8 1LY

REGISTERED NUMBER:

04660922 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

31,492

43,276

31,492

43,276

CURRENT ASSETS

Stocks

1,669

2,558

Debtors

6

11,629

4,648

Cash at bank and in hand

165,423

141,178

178,721

148,384

CREDITORS

Amounts falling due within one year

7

59,037

47,990

NET CURRENT ASSETS

119,684

100,394

TOTAL ASSETS LESS CURRENT LIABILITIES

151,176

143,670

PROVISIONS FOR LIABILITIES

5,983

8,223

NET ASSETS

145,193

135,447

CAPITAL AND RESERVES

Called up share capital

110

110

Retained earnings

145,083

135,337

SHAREHOLDERS' FUNDS

145,193

135,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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 29 May 2024 and were signed on its behalf by:

R Kettle - Director

1.	STATUTORY INFORMATION

Unit One Vehicle Services 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of three years.

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.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The assets of the scheme are held separately from those of the company in independently administered schemes.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2023

and 29 February 2024

72,000

AMORTISATION

At 1 March 2023

and 29 February 2024

72,000

NET BOOK VALUE

At 29 February 2024

-

At 28 February 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2023

5,346

60,448

2,979

68,773

Additions

1,860

1,108

-

2,968

At 29 February 2024

7,206

61,556

2,979

71,741

DEPRECIATION

At 1 March 2023

3,570

18,948

2,979

25,497

Charge for year

1,002

13,750

-

14,752

At 29 February 2024

4,572

32,698

2,979

40,249

NET BOOK VALUE

At 29 February 2024

2,634

28,858

-

31,492

At 28 February 2023

1,776

41,500

-

43,276

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,061

3,910

Other debtors

8,568

738

11,629

4,648

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

16,799

26,313

Taxation and social security

29,807

11,162

Other creditors

12,431

10,515

59,037

47,990

8.	RELATED PARTY DISCLOSURES

The directors own a property occupied by the company. Rent of £22,200 was paid during the year.

At 29 February 2024 other creditors included loans made to the company by the directors of £8,314 (2023: £6,467). The loans are interest free and have no fixed date for repayment.

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr R Kettle (director).