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REGISTERED NUMBER: 09503329 (England and Wales)















Road & Air Vehicle Sales Limited

Unaudited Financial Statements

for the year ended

31 March 2023






Road & Air Vehicle Sales Limited (Registered number: 09503329)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6

Chartered Accountants' Report 7

Road & Air Vehicle Sales Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: S Eustace
T Eustace
Mrs L J Eustace





REGISTERED OFFICE: 8 Hopper Way
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 09503329 (England and Wales)





ACCOUNTANTS: Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT

Road & Air Vehicle Sales Limited (Registered number: 09503329)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,435 24,085

CURRENT ASSETS
Stocks 35,873 17,873
Debtors 5 59,732 9,053
Cash at bank and in hand 24,818 25,935
120,423 52,861
CREDITORS
Amounts falling due within one year 6 (104,103 ) (49,344 )
NET CURRENT ASSETS 16,320 3,517
TOTAL ASSETS LESS CURRENT LIABILITIES 34,755 27,602

CREDITORS
Amounts falling due after more than one
year

7

(31,666

)

(47,665

)
NET ASSETS/(LIABILITIES) 3,089 (20,063 )

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings 2,987 (20,165 )
SHAREHOLDERS' FUNDS 3,089 (20,063 )

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.

Road & Air Vehicle Sales Limited (Registered number: 09503329)

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





S Eustace - Director


Road & Air Vehicle Sales Limited (Registered number: 09503329)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Road & Air Vehicle Sales Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 33.33% straight line
Motor vehicles - 33.33% straight line

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Road & Air Vehicle Sales Limited (Registered number: 09503329)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 9,089 19,995 29,084
DEPRECIATION
At 1 April 2022 1,666 3,333 4,999
Charge for year 1,485 4,165 5,650
At 31 March 2023 3,151 7,498 10,649
NET BOOK VALUE
At 31 March 2023 5,938 12,497 18,435
At 31 March 2022 7,423 16,662 24,085

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 19,995
DEPRECIATION
At 1 April 2022 3,333
Charge for year 4,165
At 31 March 2023 7,498
NET BOOK VALUE
At 31 March 2023 12,497
At 31 March 2022 16,662

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46 -
Amounts owed by group undertakings 47,402 -
Other debtors 12,284 9,053
59,732 9,053

Road & Air Vehicle Sales Limited (Registered number: 09503329)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,833 10,000
Hire purchase contracts 5,999 5,999
Trade creditors 9,114 463
Taxation and social security 150 -
Other creditors 78,007 32,882
104,103 49,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 29,167 39,167
Hire purchase contracts 2,499 8,498
31,666 47,665

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
102 102

9. RELATED PARTY DISCLOSURES

At the year end the directors are owed £76,937 (2021 - £31,872 relating to interest free loans with no set repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Road & Air Vehicle Sales Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Road & Air Vehicle Sales Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Road & Air Vehicle Sales Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Road & Air Vehicle Sales Limited and state those matters that we have agreed to state to the Board of Directors of Road & Air Vehicle Sales Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Road & Air Vehicle Sales Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Road & Air Vehicle Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Road & Air Vehicle Sales Limited. You consider that Road & Air Vehicle Sales Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Road & Air Vehicle Sales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT


31 January 2024