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REGISTERED NUMBER: 03631347 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)






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 AIR CONDITIONING
& HEATING SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J P Holland
Mrs M J Holland





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 03631347 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,509 147,703

CURRENT ASSETS
Stocks 5 24,920 9,289
Debtors 6 108,558 94,469
Cash at bank 50,677 58,891
184,155 162,649
CREDITORS
Amounts falling due within one year 7 106,141 93,444
NET CURRENT ASSETS 78,014 69,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,523

216,908

CREDITORS
Amounts falling due after more than one
year

8

-

(7,690

)

PROVISIONS FOR LIABILITIES (33,524 ) (28,064 )
NET ASSETS 197,999 181,154

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 197,899 181,054
197,999 181,154

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.

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

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 Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





Mrs M J Holland - Director


VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Vehicle Air Conditioning & Heating 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.
Property improvements - 20% on cost
Plant & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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.

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Property Plant & Motor Office
improvements equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 31,775 42,877 256,925 27,737 359,314
Additions - 23,567 43,547 1,335 68,449
Disposals - (11,991 ) (72,412 ) (22,802 ) (107,205 )
At 31 March 2023 31,775 54,453 228,060 6,270 320,558
DEPRECIATION
At 1 April 2022 16,410 28,692 143,200 23,309 211,611
Charge for year 6,355 9,422 37,520 1,225 54,522
Eliminated on disposal - (11,927 ) (65,222 ) (21,935 ) (99,084 )
At 31 March 2023 22,765 26,187 115,498 2,599 167,049
NET BOOK VALUE
At 31 March 2023 9,010 28,266 112,562 3,671 153,509
At 31 March 2022 15,365 14,185 113,725 4,428 147,703

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

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
At 1 April 2022
and 31 March 2023 69,905
DEPRECIATION
At 1 April 2022 20,753
Charge for year 12,288
At 31 March 2023 33,041
NET BOOK VALUE
At 31 March 2023 36,864
At 31 March 2022 49,152

5. STOCKS
2023 2022
£    £   
Stocks 24,920 9,289

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 87,176 83,552
Other debtors 11,000 6,471
Prepayments 10,382 4,446
108,558 94,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 8,625 12,435
Trade creditors 54,307 25,557
Corporation tax 21,559 29,981
Social security and other taxes 4,247 3,695
VAT 5,196 8,140
Other creditors 6,296 7,236
Directors' current accounts 2,321 3,000
Accrued expenses 3,590 3,400
106,141 93,444

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) - 7,690

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 8,625 12,435
Between one and five years - 7,690
8,625 20,125

Non-cancellable operating leases
2023 2022
£    £   
Within one year 18,500 -
Between one and five years 53,958 -
72,458 -