2022-03-012023-02-282023-02-28false05368843VEHICLE WRAPS 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VEHICLE WRAPS LIMITED

Registered Number
05368843
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

VEHICLE WRAPS LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

GILBERT, Lewin

Registered Address

Linen Hall 162-168 Regent Street Room 252-254
London
W1B 5TB

Registered Number

05368843 (England and Wales)
VEHICLE WRAPS LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors5,6534,691
Cash at bank and on hand8,61611,559
14,26916,250
Creditors amounts falling due within one year9(2,907)(5,205)
Net current assets (liabilities)11,36211,045
Total assets less current liabilities11,36211,045
Net assets11,36211,045
Capital and reserves
Called up share capital11
Profit and loss account11,36111,044
Shareholders' funds11,36211,045
The financial statements were approved and authorised for issue by the Director on 20 October 2023, and are signed on its behalf by:
GILBERT, Lewin
Director
Registered Company No. 05368843
VEHICLE WRAPS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of is that of preparing and fitting advertising signs to business premises and advertising and information details on the outside and inside of motor vehicles.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
6.Employee information

20232022
Average number of employees during the year11
7.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2215,91961616,535
At 28 February 2315,91961616,535
Depreciation and impairment
At 01 March 2215,91961616,535
At 28 February 2315,91961616,535
Net book value
At 28 February 23---
At 28 February 22---
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables4,2122,598
Other debtors1,4412,093
Total5,6534,691
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables6542,174
Bank borrowings and overdrafts-170
Taxation and social security7531,091
Other creditors-800
Accrued liabilities and deferred income1,500970
Total2,9075,205
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.