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REGISTERED NUMBER: 04689752 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Drivestyle Truck and Van Limited

Drivestyle Truck and Van Limited (Registered number: 04689752)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Drivestyle Truck and Van Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: M Burke





SECRETARY: D Ross





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 04689752 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Drivestyle Truck and Van Limited (Registered number: 04689752)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,492 13,917

CURRENT ASSETS
Stocks 614,011 673,907
Debtors 6 24,915 36,715
Cash at bank and in hand 278,382 163,156
917,308 873,778
CREDITORS
Amounts falling due within one year 7 467,208 512,128
NET CURRENT ASSETS 450,100 361,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,592

375,567

CREDITORS
Amounts falling due after more than one
year

8

(140,018

)

(110,295

)

PROVISIONS FOR LIABILITIES (3,123 ) (3,479 )
NET ASSETS 319,451 261,793

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 200 200
Retained earnings 319,251 261,593
SHAREHOLDERS' FUNDS 319,451 261,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Drivestyle Truck and Van Limited (Registered number: 04689752)

Statement of Financial Position - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2023 and were signed by:





M Burke - Director


Drivestyle Truck and Van Limited (Registered number: 04689752)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Drivestyle Truck and Van 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales and rentals of commercial vehicles, excluding value added tax.

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 machinery - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Drivestyle Truck and Van Limited (Registered number: 04689752)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 10,600 3,350 5,148 19,098
Additions - 2,146 541 2,687
At 31 March 2023 10,600 5,496 5,689 21,785
DEPRECIATION
At 1 April 2022 540 1,245 3,396 5,181
Charge for year 2,120 992 1,000 4,112
At 31 March 2023 2,660 2,237 4,396 9,293
NET BOOK VALUE
At 31 March 2023 7,940 3,259 1,293 12,492
At 31 March 2022 10,060 2,105 1,752 13,917

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 16,669 2,175
Other debtors 500 500
VAT - 26,948
Prepayments 7,746 7,092
24,915 36,715

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 51,643 50,214
Trade creditors 114,425 110,977
Tax 13,586 11,894
Social security and other taxes 10,063 9,599
VAT 16,621 -
Other creditors 14,900 55,729
Payments received in advance
for vehicle orders 29,694 37,403
Directors' current accounts 201,083 220,980
Accrued expenses 5,193 5,332
467,208 512,128

Drivestyle Truck and Van Limited (Registered number: 04689752)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 23,333 33,333
Hire purchase contracts 116,685 76,962
140,018 110,295