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REGISTERED NUMBER: 07713549 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

IMPERIAL LEISURE VEHICLES LTD

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance sheet 1

Notes to the financial statements 3


IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,291 1,129
1,291 1,129

Current assets
Stocks 62,264 80,988
Debtors 6 1,172 3,405
Cash at bank 154,897 111,191
218,333 195,584
Creditors
Amounts falling due within one year 7 45,781 59,408
Net current assets 172,552 136,176
Total assets less current liabilities 173,843 137,305

Creditors
Amounts falling due after more than one year 8 (23,131 ) (33,076 )

Provisions for liabilities 9 (275 ) (215 )
Net assets 150,437 104,014

Capital and reserves
Called up share capital 10 60 60
Capital redemption reserve 40 40
Retained earnings 150,337 103,914
Shareholders' funds 150,437 104,014

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.

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





Mr M Gough - Director


IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


1. Statutory information

Imperial Leisure Vehicles Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07713549. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address 494A Blandford Road, Poole, BH16 5BN.

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 represents amounts receivable for sales and repairs to leisure motor vehicles, net of VAT and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, was being amortised evenly over its estimated useful life of ten years and has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022 15,000
Disposals (15,000 )
At 31 March 2023 -
Amortisation
At 1 April 2022 15,000
Eliminated on disposal (15,000 )
At 31 March 2023 -
Net book value
At 31 March 2023 -
At 31 March 2022 -

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 April 2022 722 1,790 2,512
Additions - 990 990
Disposals - (708 ) (708 )
At 31 March 2023 722 2,072 2,794
Depreciation
At 1 April 2022 600 783 1,383
Charge for year 30 400 430
Eliminated on disposal - (310 ) (310 )
At 31 March 2023 630 873 1,503
Net book value
At 31 March 2023 92 1,199 1,291
At 31 March 2022 122 1,007 1,129

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors - 81
VAT - 2,666
Prepayments and accrued income 1,172 658
1,172 3,405

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 9,944 9,736
Trade creditors 12,764 27,864
Tax 13,611 17,814
VAT 3,515 -
Other creditors 72 55
Directors' current accounts 3,380 1,689
Accruals and deferred income 2,495 2,250
45,781 59,408

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,155 9,944
Bank loans - 2-5 years 12,976 23,132
23,131 33,076

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 275 215

Deferred
tax
£   
Balance at 1 April 2022 215
Provided during year 60
Balance at 31 March 2023 275

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary £1 60 60

11. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M Gough
Balance outstanding at start of year - 6,451
Amounts repaid - (6,451 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


12. Ultimate controlling party

The Company is controlled by the director, Mr M Gough, who owns 100% of the issued share capital.