TVA Styling Ltd 07469726 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Retail motor vehicle parts Digita Accounts Production Advanced 6.30.9574.0 true 07469726 2022-04-01 2023-03-31 07469726 2023-03-31 07469726 bus:OrdinaryShareClass1 2023-03-31 07469726 bus:OrdinaryShareClass2 2023-03-31 07469726 bus:OrdinaryShareClass3 2023-03-31 07469726 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 07469726 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 07469726 core:CurrentFinancialInstruments 2023-03-31 07469726 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07469726 core:Non-currentFinancialInstruments 2023-03-31 07469726 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07469726 core:FurnitureFittingsToolsEquipment 2023-03-31 07469726 core:MotorVehicles 2023-03-31 07469726 core:OtherPropertyPlantEquipment 2023-03-31 07469726 bus:SmallEntities 2022-04-01 2023-03-31 07469726 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07469726 bus:FullAccounts 2022-04-01 2023-03-31 07469726 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07469726 bus:RegisteredOffice 2022-04-01 2023-03-31 07469726 bus:Director1 2022-04-01 2023-03-31 07469726 bus:Director2 2022-04-01 2023-03-31 07469726 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07469726 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 07469726 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 07469726 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07469726 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07469726 core:MotorVehicles 2022-04-01 2023-03-31 07469726 core:OfficeEquipment 2022-04-01 2023-03-31 07469726 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07469726 core:PlantMachinery 2022-04-01 2023-03-31 07469726 countries:England 2022-04-01 2023-03-31 07469726 2022-03-31 07469726 core:FurnitureFittingsToolsEquipment 2022-03-31 07469726 core:MotorVehicles 2022-03-31 07469726 core:OtherPropertyPlantEquipment 2022-03-31 07469726 2021-04-01 2022-03-31 07469726 2022-03-31 07469726 bus:OrdinaryShareClass1 2022-03-31 07469726 bus:OrdinaryShareClass2 2022-03-31 07469726 bus:OrdinaryShareClass3 2022-03-31 07469726 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 07469726 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 07469726 core:CurrentFinancialInstruments 2022-03-31 07469726 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07469726 core:Non-currentFinancialInstruments 2022-03-31 07469726 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07469726 core:FurnitureFittingsToolsEquipment 2022-03-31 07469726 core:MotorVehicles 2022-03-31 07469726 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07469726

TVA Styling Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

TVA Styling Ltd

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Martin Hanson

Tristan Grant William Agnew

Principal activity

The principal activity of the company is Retail motor vehicle parts

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................
Mr Martin Hanson
Director

 

TVA Styling Ltd

(Registration number: 07469726)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

42,233

38,763

Current assets

 

Stocks

6

301,918

324,239

Debtors

7

9,932

11,404

Cash at bank and in hand

 

154,888

191,207

 

466,738

526,850

Creditors: Amounts falling due within one year

8

(153,402)

(162,226)

Net current assets

 

313,336

364,624

Total assets less current liabilities

 

355,569

403,387

Creditors: Amounts falling due after more than one year

8

(59,447)

(81,280)

Provisions for liabilities

(8,024)

(7,365)

Net assets

 

288,098

314,742

Capital and reserves

 

Called up share capital

9

12

12

Retained earnings

288,086

314,730

Shareholders' funds

 

288,098

314,742

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

TVA Styling Ltd

(Registration number: 07469726)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................
Mr Martin Hanson
Director

 

TVA Styling Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2
Fulwood View Brookside Way
Huthwaite
Sutton-in-Ashfield
NG17 2NL

These financial statements were authorised for issue by the Board on 14 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is GBP rounded to the nearest whole GBP

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

TVA Styling Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% Straight Line

Motor Vehicles

25 Reducing balance

Fixtures & Fittings

25% Straight line

Office Equipment

25% Straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

The company operates a defined contribution pension scheme, Contributions payable to the company's pension scheme are charges to the profit and loss in the period to which they relate.

 

TVA Styling Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 11).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

15,560

12,932

 

TVA Styling Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

14,063

59,327

2,617

76,007

Additions

1,024

45,990

-

47,014

Disposals

-

(52,702)

-

(52,702)

At 31 March 2023

15,087

52,615

2,617

70,319

Depreciation

At 1 April 2022

8,855

25,822

2,567

37,244

Charge for the year

2,632

12,878

50

15,560

Eliminated on disposal

-

(24,718)

-

(24,718)

At 31 March 2023

11,487

13,982

2,617

28,086

Carrying amount

At 31 March 2023

3,600

38,633

-

42,233

At 31 March 2022

5,208

33,505

50

38,763

6

Stocks

2023
£

2022
£

Other inventories

301,918

324,239

7

Debtors

Current

2023
£

2022
£

Trade debtors

2,918

1,360

Prepayments

-

3,000

Other debtors

7,014

7,044

 

9,932

11,404

 

TVA Styling Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

30,172

34,194

Trade creditors

 

75,931

86,333

Taxation and social security

 

45,045

39,446

Accruals and deferred income

 

2,050

2,050

Other creditors

 

204

203

 

153,402

162,226

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

59,447

81,280

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares A of £1 each

10

10

10

10

Ordinary shares B of £1 each

1

1

1

1

Ordinary shares C of £1 each

1

1

1

1

 

12

12

12

12

 

TVA Styling Ltd

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

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

28,568

53,861

Hire purchase contracts

30,879

27,419

59,447

81,280

2023
£

2022
£

Current loans and borrowings

Bank borrowings

25,000

25,000

Hire purchase contracts

5,172

8,882

Other borrowings

-

312

30,172

34,194