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REGISTERED NUMBER: 04488178 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Fourways Vehicle Solutions Limited

Fourways Vehicle Solutions Limited (Registered number: 04488178)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fourways Vehicle Solutions Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: T G M Jones
Mrs G R Jones





SECRETARY: Mrs G R Jones





REGISTERED OFFICE: Unit 4
Bridgewater Garage
Bridgewater Road
Whitchurch
SY13 1QJ





REGISTERED NUMBER: 04488178 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Fourways Vehicle Solutions Limited (Registered number: 04488178)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,535 82,932

CURRENT ASSETS
Debtors 5 578,607 579,393
Cash at bank and in hand 56,052 33,574
634,659 612,967
CREDITORS
Amounts falling due within one year 6 429,589 468,712
NET CURRENT ASSETS 205,070 144,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,605

227,187

CREDITORS
Amounts falling due after more than one
year

7

(4,986

)

(4,986

)

PROVISIONS FOR LIABILITIES (27,759 ) (24,034 )
NET ASSETS 238,860 198,167

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 228,860 188,167
SHAREHOLDERS' FUNDS 238,860 198,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 14 July 2022 and were signed on its behalf by:





T G M Jones - Director


Fourways Vehicle Solutions Limited (Registered number: 04488178)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Fourways Vehicle Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable , excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and office equipment - 25% reducing balance
Computer software - 15% straight line
Short leasehold improvements - 20% reducing balance

Government grants
Government grants have been accounted for under the accrual model. The grants, which relate to revenue, are recognised as income in the same period as the expenses for which they compensate.

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.


Fourways Vehicle Solutions Limited (Registered number: 04488178)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2020 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 277,925
Additions 589
At 31 December 2021 278,514
DEPRECIATION
At 1 January 2021 194,993
Charge for year 16,986
At 31 December 2021 211,979
NET BOOK VALUE
At 31 December 2021 66,535
At 31 December 2020 82,932

Fourways Vehicle Solutions Limited (Registered number: 04488178)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. DEBTORS
31.12.21 31.12.20
£    £   
Amounts falling due within one year:
Trade debtors 357,175 338,773
Other debtors 4,035 23,223
361,210 361,996

Amounts falling due after more than one year:
Amounts owed by group undertakings 217,397 217,397

Aggregate amounts 578,607 579,393

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 29,206 28,686
Trade creditors 301,920 332,813
Taxation and social security 49,383 35,451
Other creditors 49,080 71,762
429,589 468,712

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Amounts owed to group undertakings 4,986 4,986

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 8,933 6,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank overdrafts 29,206 28,686

The bank overdrafts are secured with a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Fourways (Holdings) Limited, a company incorporated in England and Wales, by virtue to its shareholding.