Registration number:
Select Vehicle Leasing Limited
for the Year Ended 28 February 2022
Select Vehicle Leasing Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Select Vehicle Leasing Limited
Company Information
Director |
Mark Phillips |
Registered office |
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Accountants |
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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.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Select Vehicle Leasing Limited
(Registration number: 08191801)
Balance Sheet as at 28 February 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
37,769 |
10,890 |
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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:
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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
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Mark Phillips
Director
Select Vehicle Leasing Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
General information |
The company is a private company limited by share capital, incorporated in England .
The address of its registered office is:
These financial statements were authorised for issue by the
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 |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 March 2021 |
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At 28 February 2022 |
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Depreciation |
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At 1 March 2021 |
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Charge for the year |
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At 28 February 2022 |
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Carrying amount |
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At 28 February 2022 |
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At 28 February 2021 |
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Select Vehicle Leasing Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
Debtors |
Current |
2022 |
2021 |
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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2022 |
2021 |
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Current loans and borrowings |
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Bank borrowings |
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- |