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REGISTERED NUMBER: 06183098 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

VEHICLE LIVERY SOLUTIONS LIMITED

VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VEHICLE LIVERY SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: D J Saunderson
G J Saunderson





REGISTERED OFFICE: Unit F1
Rotterdam Park
Hull
HU7 0AN





REGISTERED NUMBER: 06183098 (England and Wales)





ACCOUNTANTS: Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ

VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,385 5,975
Tangible assets 5 256,640 85,542
263,025 91,517

CURRENT ASSETS
Stocks 74,910 62,645
Debtors 6 382,229 189,788
Cash at bank and in hand 389,957 500,716
847,096 753,149
CREDITORS
Amounts falling due within one year 7 319,396 266,309
NET CURRENT ASSETS 527,700 486,840
TOTAL ASSETS LESS CURRENT LIABILITIES 790,725 578,357

CREDITORS
Amounts falling due after more than one year 8 (198,482 ) (80,868 )

PROVISIONS FOR LIABILITIES (58,583 ) (16,340 )
NET ASSETS 533,660 481,149

CAPITAL AND RESERVES
Called up share capital 83,375 83,375
Capital redemption reserve 31,625 31,625
Retained earnings 418,660 366,149
533,660 481,149

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.

VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

BALANCE SHEET - continued
31 DECEMBER 2021


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 7 September 2022 and were signed on its behalf by:





D J Saunderson - Director


VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Vehicle Livery 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.

Going concern
Subsequent to the year end, Covid-19 has resulted in a global pandemic affecting trading businesses globally and within the UK.

The directors have considered all factors, including in the wider economy, as part of their assessment of going concern. Although the current economic climate, due to Covid-19, creates both cashflow and profitability risk for the company, the directors believe on balance that they have sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements, on the basis of information currently available to them as at the point of approving these. Accordingly, these financial statements have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Over the term of the lease
Plant and machinery etc - 25% on reducing balance and Straight line over 4 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2020 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2021 6,939
Additions 3,065
At 31 December 2021 10,004
AMORTISATION
At 1 January 2021 964
Charge for year 2,655
At 31 December 2021 3,619
NET BOOK VALUE
At 31 December 2021 6,385
At 31 December 2020 5,975

VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 17,735 229,026 246,761
Additions - 229,593 229,593
At 31 December 2021 17,735 458,619 476,354
DEPRECIATION
At 1 January 2021 12,217 149,002 161,219
Charge for year 1,774 56,721 58,495
At 31 December 2021 13,991 205,723 219,714
NET BOOK VALUE
At 31 December 2021 3,744 252,896 256,640
At 31 December 2020 5,518 80,024 85,542

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 213,410
At 31 December 2021 213,410
DEPRECIATION
Charge for year 34,853
At 31 December 2021 34,853
NET BOOK VALUE
At 31 December 2021 178,557

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 341,038 128,259
Other debtors 41,191 61,529
382,229 189,788

VEHICLE LIVERY SOLUTIONS LIMITED (REGISTERED NUMBER: 06183098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 9,626 11,486
Hire purchase contracts 35,779 -
Trade creditors 179,424 92,483
Taxation and social security 90,003 159,384
Other creditors 4,564 2,956
319,396 266,309

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans 35,650 80,868
Hire purchase contracts 162,832 -
198,482 80,868

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years - 11,269

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date at the company had lease rental commitments totalling £52,098 (2020 £54,337).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
D J Saunderson
Balance outstanding at start of year 32,633 33,450
Amounts advanced 33,359 60,047
Amounts repaid (54,194 ) (60,864 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,798 32,633

G J Saunderson
Balance outstanding at start of year 2,440 2,440
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,440 2,440

No interest is chargeable on these loans.