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Registration number: 08191801

Select Vehicle Leasing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

Select Vehicle Leasing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Select Vehicle Leasing Limited

Company Information

Director

Mark Phillips

Registered office

Condy Mathias
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Select Vehicle Leasing Limited
for the Year Ended 28 February 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Select Vehicle Leasing Limited for the year ended 28 February 2022 as set out on pages 3 to 7 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Select Vehicle Leasing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Select Vehicle Leasing Limited. You consider that Select Vehicle Leasing 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 accounts of Select Vehicle Leasing 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

17 August 2022

 

Select Vehicle Leasing Limited

(Registration number: 08191801)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

378

504

Current assets

 

Cash at bank and in hand

 

111,845

68,344

Creditors: Amounts falling due within one year

6

(30,646)

(7,871)

Net current assets

 

81,199

60,473

Total assets less current liabilities

 

81,577

60,977

Creditors: Amounts falling due after more than one year

6

(43,712)

(50,000)

Provisions for liabilities

(95)

(86)

Net assets

 

37,770

10,891

Capital and reserves

 

Called up share capital

1

1

Retained earnings

37,769

10,890

Shareholders' funds

 

37,770

10,891

 

Select Vehicle Leasing Limited

(Registration number: 08191801)
Balance Sheet as at 28 February 2022

For the financial year ending 28 February 2022 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 accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 August 2022
 

.........................................

Mark Phillips

Director

 

Select Vehicle Leasing Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
Condy Mathias
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

These financial statements were authorised for issue by the director on 16 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.The accounts have been prepared on a going concern basis, taking into account the impact on the business caused by the Coronavirus outbreak. To cope with the outbreak the business accessed the relevant emergency government support available to support it through the lockdown, and expects to be in a position to commence normal trading once the peak of the crisis has passed.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Select Vehicle Leasing Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Equipment

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2021

1,195

1,195

At 28 February 2022

1,195

1,195

Depreciation

At 1 March 2021

691

691

Charge for the year

126

126

At 28 February 2022

817

817

Carrying amount

At 28 February 2022

378

378

At 28 February 2021

504

504

 

Select Vehicle Leasing Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

5

Debtors

Current

2022
£

2021
£

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

5,038

-

Taxation and social security

 

16,035

5,684

Accruals and deferred income

 

1,100

1,250

Other creditors

 

8,473

937

 

30,646

7,871

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

43,712

50,000

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

43,712

50,000

2022
£

2021
£

Current loans and borrowings

Bank borrowings

5,038

-