Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312400falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01No description of principal activity36false31true 12944332 2023-01-01 2023-12-31 12944332 2022-01-01 2022-12-31 12944332 2023-12-31 12944332 2022-12-31 12944332 2022-01-01 12944332 c:Director1 2023-01-01 2023-12-31 12944332 c:Director2 2023-01-01 2023-12-31 12944332 c:RegisteredOffice 2023-01-01 2023-12-31 12944332 c:Agent1 2023-01-01 2023-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2023-12-31 12944332 d:Buildings d:LongLeaseholdAssets 2022-12-31 12944332 d:PlantMachinery 2023-01-01 2023-12-31 12944332 d:PlantMachinery 2023-12-31 12944332 d:PlantMachinery 2022-12-31 12944332 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12944332 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12944332 d:MotorVehicles 2023-01-01 2023-12-31 12944332 d:MotorVehicles 2023-12-31 12944332 d:MotorVehicles 2022-12-31 12944332 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12944332 d:OfficeEquipment 2023-01-01 2023-12-31 12944332 d:OfficeEquipment 2023-12-31 12944332 d:OfficeEquipment 2022-12-31 12944332 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12944332 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12944332 d:ComputerEquipment 2023-01-01 2023-12-31 12944332 d:ComputerEquipment 2023-12-31 12944332 d:ComputerEquipment 2022-12-31 12944332 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12944332 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12944332 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12944332 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12944332 d:CurrentFinancialInstruments 2023-12-31 12944332 d:CurrentFinancialInstruments 2022-12-31 12944332 d:Non-currentFinancialInstruments 2023-12-31 12944332 d:Non-currentFinancialInstruments 2022-12-31 12944332 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12944332 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12944332 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12944332 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12944332 d:ShareCapital 2023-12-31 12944332 d:ShareCapital 2022-12-31 12944332 d:ShareCapital 2022-01-01 12944332 d:RevaluationReserve 2023-01-01 2023-12-31 12944332 d:RevaluationReserve 2023-12-31 12944332 d:RevaluationReserve 2022-01-01 2022-12-31 12944332 d:RevaluationReserve 2022-12-31 12944332 d:RevaluationReserve 2022-01-01 12944332 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2023-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2022-12-31 12944332 d:RetainedEarningsAccumulatedLosses 2022-01-01 12944332 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 12944332 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 12944332 d:RetirementBenefitObligationsDeferredTax 2023-12-31 12944332 d:RetirementBenefitObligationsDeferredTax 2022-12-31 12944332 d:OtherDeferredTax 2023-12-31 12944332 d:OtherDeferredTax 2022-12-31 12944332 c:FRS102 2023-01-01 2023-12-31 12944332 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12944332 c:FullAccounts 2023-01-01 2023-12-31 12944332 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12944332 d:WithinOneYear 2023-12-31 12944332 d:WithinOneYear 2022-12-31 12944332 d:BetweenOneFiveYears 2023-12-31 12944332 d:BetweenOneFiveYears 2022-12-31 12944332 2 2023-01-01 2023-12-31 12944332 5 2023-01-01 2023-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 12944332 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12944332









HB ACCIDENT REPAIR NETWORK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
COMPANY INFORMATION


Directors
N G Orr 
T K Howard 




Registered number
12944332



Registered office
349 Moorside Road

Swinton

Manchester

M27 9HH




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS




Bankers
Barclays
Leicester

Leicestershire

LE87 2BB







 
HB ACCIDENT REPAIR NETWORK LTD
 

CONTENTS



Page
Accountant's report
1
Statement of Financial Position
2 - 3
Statement of Changes in Equity
4
Notes to the financial statements
5 - 13


  
  img2b91.png
Report to the directors on the preparation of the unaudited statutory financial statements of HB Accident Repair Network Ltd for the year ended 31 December 2023 

We have compiled the accompanying financial statements of HB Accident Repair Network Ltd (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of HB Accident Repair Network Ltd as at 31 December 2023, the Statement of Changes in Equity for the  year then ended, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 17 January 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 17 January 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Liverpool

8 March 2024
Page 1

 
HB ACCIDENT REPAIR NETWORK LTD
REGISTERED NUMBER: 12944332

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
192,005
161,521

 
Current assets
  

Stocks
 5 
97,873
98,068

Debtors: amounts falling due within one year
 6 
509,077
469,771

Cash at bank and in hand
  
376,685
320,191

  
983,635
888,030

Creditors: amounts falling due within one year
 7 
(737,786)
(717,365)

Net current assets
  
 
 
245,849
 
 
170,665

Total assets less current liabilities
  
437,854
332,186

Creditors: amounts falling due after more than one year
 8 
(148,444)
(264,292)

Provisions for liabilities
  

Deferred tax
 9 
(34,447)
(21,011)

  
 
 
(34,447)
 
 
(21,011)

Net assets
  
254,963
46,883


Capital and reserves
  

Called up share capital 
  
930
930

Revaluation reserve
  
79,121
90,291

Profit and loss account
  
174,912
(44,338)

  
254,963
46,883


Page 2

 
HB ACCIDENT REPAIR NETWORK LTD
REGISTERED NUMBER: 12944332
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2024.




N G Orr
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
HB ACCIDENT REPAIR NETWORK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
930
101,461
(167,996)
(65,605)


Comprehensive income for the year

Profit for the year
-
-
112,488
112,488

Transfer to/from profit and loss account
-
(11,170)
11,170
-



At 1 January 2023
930
90,291
(44,338)
46,883


Comprehensive income for the year

Profit for the year
-
-
333,280
333,280

Dividends paid
-
-
(125,200)
(125,200)

Transfer to/from profit and loss account
-
(11,170)
11,170
-


At 31 December 2023
930
79,121
174,912
254,963


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares and is registered in England and Wales.
Registered Number: 12944332.
Registered office: 349 Moorside Road, Swinton, Manchester, M27 9HH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The current macroeconomic situation in the United Kingdom, including the increase in the cost of living, high inflation levels and high fuel costs is having impacts on both individuals and businesses. The directors continually review the economic environment in which the business operates and make appropriate adjustments to mitigate any negative impacts. The business has developed extensively over recent years and now consistently delivers strong operational performance. Having reviewed the forecast business profitability, cash position and funding the directors are confident the challenging macroeconomic conditions can be successfully navigated and as such, the financial statements have been prepared on the going concern basis.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax. Turnover is generated by repairing damaged motor vehicles, through contracts with insurance companies. Turnover is recognised when the obligation to repair a vehicle has been fulfilled.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 5

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 6

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
10 years
Workshop equipment
-
5 - 10 years
Motor vehicles
-
5 years
Office equipment
-
5 years
Computer equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties and workshop equipment are carried at current year value at fair value less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 7

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
 

Page 8

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Comprehensive Income when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2022: 31).

Page 9

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold property improvements
Workshop equipment
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
23,994
148,849
23,410
616
14,042
210,911


Additions
-
60,235
-
-
982
61,217



At 31 December 2023

23,994
209,084
23,410
616
15,024
272,128



Depreciation


At 1 January 2023
4,639
30,498
6,750
185
7,318
49,390


Charge for the year on owned assets
2,400
19,687
-
123
4,841
27,051


Charge for the year on financed assets
-
-
3,682
-
-
3,682



At 31 December 2023

7,039
50,185
10,432
308
12,159
80,123



Net book value



At 31 December 2023
16,955
158,899
12,978
308
2,865
192,005



At 31 December 2022
19,355
118,351
16,660
431
6,724
161,521


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
12,978
16,660


5.


Stocks

2023
2022
£
£

Work in progress
97,873
98,068


Page 10

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
405,881
362,173

Amounts owed by related parties
11,614
-

Other debtors
36,351
36,360

Prepayments and accrued income
55,231
71,238

509,077
469,771



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
282,360
248,591

Amounts owed to related parties
-
33,063

Corporation tax
91,452
-

Other taxation and social security
153,567
112,859

Obligations under finance lease and hire purchase contracts
4,895
4,895

Other creditors
46,676
191,075

Accruals and deferred income
158,836
126,882

737,786
717,365


The hire purchase loans are secured on the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
4,308
8,529

Other creditors
17,086
29,273

Accruals and deferred income
127,050
226,490

148,444
264,292


The hire purchase loans are secured on the assets to which they relate.

Page 11

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(21,011)


Charged to profit or loss
(13,436)



At end of year
(34,447)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed asset timing differences
(35,087)
(32,066)

Short term timing differences
640
556

Losses and other deductions
-
10,499

(34,447)
(21,011)


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £26,962 (2022: £24,322). At 31 December 2023, pension contributions included within other creditors amounted to £2,562 (2022: £2,226).


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
125,000
120,000

Later than 1 year and not later than 5 years
125,000
250,000

250,000
370,000

Page 12

 
HB ACCIDENT REPAIR NETWORK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Related party transactions

Included within other creditors less than and greater than one year are loans from directors amounting to £Nil (2022: £132,351) and £29,273 (2022: £41,461) owed to a former director of the Company.  These balances are non interest bearing and repayable on demand. 
Amounts owed to related parties includes £Nil (2022: £33,063) owed to Vehicle Technical Solutions Ltd. Amounts owed by related parties includes £11,614 (2022: £Nil) owed by Vehicle Technical Solutions Ltd. Amounts included in other operating income is £60,600 (2022: £15,099) received from Vehicle Technical Solutions Ltd. There is an amount within cost of sales of £127,468 (2022: £37,204) paid to Vehicle Technical Solutions Ltd. This company is related by virtue of common control.

 
Page 13