Silverfin false 31/03/2023 01/04/2022 31/03/2023 D J Garvie 16/11/2012 06 October 2023 The principal activity of the Company during the financial year is that of motor vehicle services. SC437002 2023-03-31 SC437002 bus:Director1 2023-03-31 SC437002 2022-03-31 SC437002 core:CurrentFinancialInstruments 2023-03-31 SC437002 core:CurrentFinancialInstruments 2022-03-31 SC437002 core:ShareCapital 2023-03-31 SC437002 core:ShareCapital 2022-03-31 SC437002 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC437002 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC437002 core:Goodwill 2022-03-31 SC437002 core:Goodwill 2023-03-31 SC437002 core:OtherPropertyPlantEquipment 2022-03-31 SC437002 core:OtherPropertyPlantEquipment 2023-03-31 SC437002 2021-03-31 SC437002 bus:OrdinaryShareClass1 2023-03-31 SC437002 2022-04-01 2023-03-31 SC437002 bus:FullAccounts 2022-04-01 2023-03-31 SC437002 bus:SmallEntities 2022-04-01 2023-03-31 SC437002 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC437002 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC437002 bus:Director1 2022-04-01 2023-03-31 SC437002 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 SC437002 core:Goodwill 2022-04-01 2023-03-31 SC437002 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC437002 2021-04-01 2022-03-31 SC437002 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC437002 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC437002 (Scotland)

ONE CALL VEHICLE SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

ONE CALL VEHICLE SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

ONE CALL VEHICLE SERVICES LTD

BALANCE SHEET

AS AT 31 MARCH 2023
ONE CALL VEHICLE SERVICES LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 48,074 18,402
48,074 18,402
Current assets
Stocks 5 3,200 2,000
Debtors 6 7,573 39,138
Cash at bank and in hand 7 26,769 23,564
37,542 64,702
Creditors: amounts falling due within one year 8 ( 17,333) ( 15,478)
Net current assets 20,209 49,224
Total assets less current liabilities 68,283 67,626
Provision for liabilities 9, 10 ( 3,475) ( 4,576)
Net assets 64,808 63,050
Capital and reserves
Called-up share capital 11 100 100
Profit and loss account 64,708 62,950
Total shareholder's funds 64,808 63,050

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of One Call Vehicle Services Ltd (registered number: SC437002) were approved and authorised for issue by the Director on 06 October 2023. They were signed on its behalf by:

D J Garvie
Director
ONE CALL VEHICLE SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
ONE CALL VEHICLE SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

One Call Vehicle Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Old Hydro Building, Shore Road, Perth, PH2 8BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for motor vehicle goods and services net of VAT.

Revenue is recognised on an accruals basis.

Rental income is recognised on a straight line basis over the term of the lease.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 10,000 10,000
At 31 March 2023 10,000 10,000
Accumulated amortisation
At 01 April 2022 10,000 10,000
At 31 March 2023 10,000 10,000
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 45,641 45,641
Additions 35,943 35,943
At 31 March 2023 81,584 81,584
Accumulated depreciation
At 01 April 2022 27,239 27,239
Charge for the financial year 6,271 6,271
At 31 March 2023 33,510 33,510
Net book value
At 31 March 2023 48,074 48,074
At 31 March 2022 18,402 18,402

5. Stocks

2023 2022
£ £
Stocks 3,200 2,000

6. Debtors

2023 2022
£ £
Trade debtors 6,700 8,065
Corporation tax 873 0
Other debtors 0 31,073
7,573 39,138

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 26,769 23,564

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 11,848 9,205
Taxation and social security 1,639 2,214
Other creditors 3,846 4,059
17,333 15,478

9. Provision for liabilities

2023 2022
£ £
Deferred tax 3,475 4,576

10. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 4,576) ( 3,988)
Credited/(charged) to the Statement of Income and Retained Earnings 1,101 ( 588)
At the end of financial year ( 3,475) ( 4,576)

11. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

12. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 11,000 11,000

13. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Directors Loan 806 1,141

The loan is interest-free, unsecured and has no fixed terms of repayment.