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REGISTERED NUMBER: 04967846 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

VEHICLE ACCESSORIES LIMITED

VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VEHICLE ACCESSORIES LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: L D Fletcher





REGISTERED OFFICE: Unit 1 - 2, Rear of Number 12
Emery Road
Brislington
Bristol
BS4 5PF





REGISTERED NUMBER: 04967846 (England and Wales)





ACCOUNTANT: Grahame J Harbour Limited
1 Windrush Road
Keynsham
Bristol
Avon
BS31 1QL

VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,676 144,080

CURRENT ASSETS
Stocks 112,270 127,052
Debtors 5 372,089 214,081
Cash at bank and in hand 144,326 81,413
628,685 422,546
CREDITORS
Amounts falling due within one year 6 287,986 200,417
NET CURRENT ASSETS 340,699 222,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,375

366,209

CREDITORS
Amounts falling due after more than one
year

7

(21,667

)

(31,667

)

PROVISIONS FOR LIABILITIES (28,169 ) (27,375 )
NET ASSETS 403,539 307,167

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 402,539 306,167
SHAREHOLDERS' FUNDS 403,539 307,167

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.

VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)

Balance Sheet - 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 director and authorised for issue on 2 August 2023 and were signed by:





L D Fletcher - Director


VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)

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

1. STATUTORY INFORMATION

Vehicle Accessories 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.

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 - 15% 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 balance sheet date.

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.

VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)

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

2. ACCOUNTING POLICIES - continued

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 22 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 116,193 28,515 212,236 10,028 366,972
Additions - - 14,000 - 14,000
Disposals - - (14,000 ) - (14,000 )
At 31 March 2023 116,193 28,515 212,236 10,028 366,972
DEPRECIATION
At 1 April 2022 74,487 21,315 118,171 8,919 222,892
Charge for year 6,256 1,080 27,014 554 34,904
Eliminated on disposal - - (3,500 ) - (3,500 )
At 31 March 2023 80,743 22,395 141,685 9,473 254,296
NET BOOK VALUE
At 31 March 2023 35,450 6,120 70,551 555 112,676
At 31 March 2022 41,706 7,200 94,065 1,109 144,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 16,499
Transfer to ownership (16,499 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 3,472
Charge for year 3,257
Transfer to ownership (6,729 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 13,027

VEHICLE ACCESSORIES LIMITED (REGISTERED NUMBER: 04967846)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 371,319 213,311
Other debtors 770 770
372,089 214,081

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 5,325
Trade creditors 153,384 122,424
Taxation and social security 116,949 47,511
Other creditors 7,653 15,157
287,986 200,417

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 21,667 31,667

During 2021 the Company took out a Government bounce back loan of £50,000. The term of the loan is five years and the rate of interest is 2.5% per annum.

8. ULTIMATE CONTROLLING PARTY

The controlling party is L D Fletcher.