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REGISTERED NUMBER: 08149357 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2023

for

A B Vehicle Services Ltd

A B Vehicle Services Ltd (Registered number: 08149357)






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


A B Vehicle Services Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A J Botterill
A D Botterill





SECRETARY: Mrs H Botterill





REGISTERED OFFICE: 58 Valley Road
Overseal
Swadlincote
Derbyshire
DE12 6NN





REGISTERED NUMBER: 08149357 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

A B Vehicle Services Ltd (Registered number: 08149357)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,391 27,179

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 5 28,490 14,520
Cash at bank and in hand 62,098 60,169
91,788 75,889
CREDITORS
Amounts falling due within one year 6 85,133 81,141
NET CURRENT ASSETS/(LIABILITIES) 6,655 (5,252 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,046

21,927

CREDITORS
Amounts falling due after more than one year 7 (28,401 ) -

PROVISIONS FOR LIABILITIES (12,409 ) (5,147 )
NET ASSETS 31,236 16,780

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 31,136 16,680
SHAREHOLDERS' FUNDS 31,236 16,780

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 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.

A B Vehicle Services Ltd (Registered number: 08149357)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




A J Botterill - Director



A D Botterill - Director


A B Vehicle Services Ltd (Registered number: 08149357)

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

1. STATUTORY INFORMATION

A B Vehicle Services Ltd 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.

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.

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

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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
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 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 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.

A B Vehicle Services Ltd (Registered number: 08149357)

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

2. ACCOUNTING POLICIES - continued

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.

Loans from directors
Any loans from the Director's to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 29,925 1,717 26,558 1,087 59,287
Additions 11,360 - 44,163 945 56,468
Disposals - - (8,000 ) - (8,000 )
At 31 March 2023 41,285 1,717 62,721 2,032 107,755
DEPRECIATION
At 1 April 2022 13,650 1,445 15,926 1,087 32,108
Charge for year 2,764 54 13,225 315 16,358
Eliminated on disposal - - (6,102 ) - (6,102 )
At 31 March 2023 16,414 1,499 23,049 1,402 42,364
NET BOOK VALUE
At 31 March 2023 24,871 218 39,672 630 65,391
At 31 March 2022 16,275 272 10,632 - 27,179

A B Vehicle Services Ltd (Registered number: 08149357)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 44,163
At 31 March 2023 44,163
DEPRECIATION
Charge for year 11,041
At 31 March 2023 11,041
NET BOOK VALUE
At 31 March 2023 33,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,346 14,445
Prepayments 1,144 75
28,490 14,520

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,818 -
Trade creditors 41,305 33,772
Tax 9,310 13,247
Social security and other taxes 2,794 4,529
VAT 2,945 10,182
Other creditors 1,138 1,960
Directors' current accounts 10,372 15,872
Accrued expenses 2,451 1,579
85,133 81,141

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 28,401 -

A B Vehicle Services Ltd (Registered number: 08149357)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
20 Ordinary C & D £1 20 20
100 100