Company Registration No. 07512821 (England and Wales)
VW Taxation Ltd
Unaudited accounts
for the year ended 31 March 2023
VW Taxation Ltd
Unaudited accounts
Contents
VW Taxation Ltd
Company Information
for the year ended 31 March 2023
Directors
Gary Ellis
Elizabeth Ellis
Company Number
07512821 (England and Wales)
Registered Office
82A HIGH STREET
COSHAM
PORTSMOUTH
HAMPSHIRE
PO6 3AJ
Accountants
VW Taxation Ltd
82a High Street
Cosham
Hampshire
PO6 3AJ
VW Taxation Ltd
Statement of financial position
as at 31 March 2023
Intangible assets
86,667
102,667
Tangible assets
27,402
42,778
Cash at bank and in hand
2,913
4,156
Creditors: amounts falling due within one year
(120,301)
(123,394)
Net current liabilities
(75,445)
(116,700)
Total assets less current liabilities
38,624
28,745
Creditors: amounts falling due after more than one year
(36,113)
(42,887)
Net assets/(liabilities)
2,511
(14,142)
Called up share capital
100
100
Profit and loss account
2,411
(14,242)
Shareholders' funds
2,511
(14,142)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
Gary Ellis
Director
Company Registration No. 07512821
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2023
VW Taxation Ltd is a private company, limited by shares, registered in England and Wales, registration number 07512821. The registered office is 82A HIGH STREET, COSHAM, PORTSMOUTH, HAMPSHIRE, PO6 3AJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is calculated so as to write off the cost of an asset, less it's estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years straight line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% Straight Line
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
Charge for the year
16,000
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
14,583
5,087
31,825
51,495
Additions
-
-
25,860
25,860
Disposals
-
-
(31,032)
(31,032)
At 31 March 2023
14,583
5,087
26,653
46,323
At 1 April 2022
3,342
2,458
2,917
8,717
Charge for the year
3,646
1,696
17,792
23,134
On disposals
-
-
(12,930)
(12,930)
At 31 March 2023
6,988
4,154
7,779
18,921
At 31 March 2023
7,595
933
18,874
27,402
At 31 March 2022
11,241
2,629
28,908
42,778
Amounts falling due within one year
Accrued income and prepayments
1,737
2,538
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
44,003
36,965
Obligations under finance leases and hire purchase contracts
2,478
2,478
Trade creditors
44,929
45,333
Taxes and social security
24,929
17,572
Loans from directors
-
16,900
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
9,684
12,162
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 3 (2022: 2).