false false false false false false false false false true false false false false false false false No description of principal activity 2017-05-01 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP 08972636 2017-05-01 2018-04-30 08972636 2018-04-30 08972636 2017-04-30 08972636 2016-05-01 2017-04-30 08972636 2017-04-30 08972636 core:NetGoodwill 2017-05-01 2018-04-30 08972636 core:MotorVehicles 2017-05-01 2018-04-30 08972636 bus:RegisteredOffice 2017-05-01 2018-04-30 08972636 bus:Director1 2017-05-01 2018-04-30 08972636 core:WithinOneYear 2018-04-30 08972636 core:WithinOneYear 2017-04-30 08972636 core:ShareCapital 2018-04-30 08972636 core:ShareCapital 2017-04-30 08972636 core:RetainedEarningsAccumulatedLosses 2018-04-30 08972636 core:RetainedEarningsAccumulatedLosses 2017-04-30 08972636 bus:FRS102 2017-05-01 2018-04-30 08972636 bus:AuditExempt-NoAccountantsReport 2017-05-01 2018-04-30 08972636 bus:AbridgedAccounts 2017-05-01 2018-04-30 08972636 bus:SmallCompaniesRegimeForAccounts 2017-05-01 2018-04-30 08972636 bus:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 08972636 core:OfficeEquipment 2017-05-01 2018-04-30
Statement of Consent to Prepare Abridged Financial Statements
All of the members of Total Vehicle Servicing Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 08972636
Total Vehicle Servicing Limited
Filleted Unaudited Abridged Financial Statements
30 April 2018
Total Vehicle Servicing Limited
Abridged Financial Statements
Year ended 30 April 2018
Contents
Page
Director's report
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
Total Vehicle Servicing Limited
Director's Report
Year ended 30 April 2018
The director presents his report and the unaudited abridged financial statements of the company for the year ended 30 April 2018 .
Director
The director who served the company during the year was as follows:
Mr Gary Saxton
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 November 2018 and signed on behalf of the board by:
Mr Gary Saxton
Director
Registered office:
Vicarage Corner House
219 Burton Road
Derby
Derbyshire
England
DE23 6AE
Total Vehicle Servicing Limited
Abridged Statement of Financial Position
30 April 2018
2018
2017
Note
£
£
£
Fixed assets
Intangible assets
5
6,600
7,700
Tangible assets
6
2,180
2,850
-------
--------
8,780
10,550
Current assets
Stocks
3,012
2,789
Cash at bank and in hand
13,396
5,839
--------
-------
16,408
8,628
Creditors: amounts falling due within one year
30,148
28,902
--------
--------
Net current liabilities
13,740
20,274
--------
--------
Total assets less current liabilities
( 4,960)
( 9,724)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 5,060)
( 9,824)
-------
-------
Members deficit
( 4,960)
( 9,724)
-------
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
Total Vehicle Servicing Limited
Abridged Statement of Financial Position (continued)
30 April 2018
These abridged financial statements were approved by the board of directors and authorised for issue on 13 November 2018 , and are signed on behalf of the board by:
Mr Gary Saxton
Director
Company registration number: 08972636
Total Vehicle Servicing Limited
Notes to the Abridged Financial Statements
Year ended 30 April 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vicarage Corner House, 219 Burton Road, Derby, Derbyshire, DE23 6AE, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. Intangible assets
£
Cost
At 1 May 2017 and 30 April 2018
11,000
--------
Amortisation
At 1 May 2017
3,300
Charge for the year
1,100
--------
At 30 April 2018
4,400
--------
Carrying amount
At 30 April 2018
6,600
--------
At 30 April 2017
7,700
--------
6. Tangible assets
£
Cost
At 1 May 2017 and 30 April 2018
6,512
-------
Depreciation
At 1 May 2017
3,662
Charge for the year
670
-------
At 30 April 2018
4,332
-------
Carrying amount
At 30 April 2018
2,180
-------
At 30 April 2017
2,850
-------
7. Director's advances, credits and guarantees
At the year end, the directors loan account was in credit therefore no disclosure is required.
8. Related party transactions
The company was under the control of Mr Gary Saxton throughout the current and previous year. Mr Gary Saxton is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.