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Usk And Wye Valley ATV Limited

Financial Statements for the Year Ended 31 March 2023






Usk And Wye Valley ATV Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D J Evans





SECRETARY: L B Evans





REGISTERED OFFICE: The Old Stables
Pencraig Farm
Llanhennock, Caerleon
Newport
NP18 1LU





REGISTERED NUMBER: 10530819 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Usk And Wye Valley ATV Limited


The following reproduces the text of the report prepared for the director 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 Director 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 Usk And Wye Valley ATV Limited for the year ended 31 March 2023 which comprise the Income Statement, 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 director of Usk And Wye Valley ATV Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Usk And Wye Valley ATV Limited and state those matters that we have agreed to state to the director of Usk And Wye Valley ATV Limited 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 Usk And Wye Valley ATV Limited and its director for our work or for this report.

It is your duty to ensure that Usk And Wye Valley ATV 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 Usk And Wye Valley ATV Limited. You consider that Usk And Wye Valley ATV 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 Usk And Wye Valley ATV 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.






BPU Limited
Chartered Accountants


7 February 2024

Usk And Wye Valley ATV Limited (Registered number: 10530819)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 35,979 44,480

CURRENT ASSETS
Stocks 198,016 133,574
Debtors 4 61,789 36,797
Cash at bank 38,605 85,044
298,410 255,415
CREDITORS
Amounts falling due within one year 5 191,880 180,323
NET CURRENT ASSETS 106,530 75,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,509

119,572

CREDITORS
Amounts falling due after more than
one year

6

(21,804

)

(34,930

)

PROVISIONS FOR LIABILITIES (5,891 ) -
NET ASSETS 114,814 84,642

Usk And Wye Valley ATV Limited (Registered number: 10530819)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 114,714 84,542
SHAREHOLDERS' FUNDS 114,814 84,642

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2024 and were signed by:





D J Evans - Director


Usk And Wye Valley ATV Limited (Registered number: 10530819)

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


1. 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.
Motor vehicles - 20% reducing balance
Computer equipment - 25% reducing balance

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 held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

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

Usk And Wye Valley ATV Limited (Registered number: 10530819)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 54,737 3,337 58,074
Additions - 500 500
At 31 March 2023 54,737 3,837 58,574
DEPRECIATION
At 1 April 2022 11,939 1,655 13,594
Charge for year 8,559 442 9,001
At 31 March 2023 20,498 2,097 22,595
NET BOOK VALUE
At 31 March 2023 34,239 1,740 35,979
At 31 March 2022 42,798 1,682 44,480

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 27,437
DEPRECIATION
At 1 April 2022 915
Charge for year 5,304
At 31 March 2023 6,219
NET BOOK VALUE
At 31 March 2023 21,218
At 31 March 2022 26,522

Usk And Wye Valley ATV Limited (Registered number: 10530819)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,789 36,797

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts 5,126 4,879
Trade creditors 2,765 -
Taxes & social security costs 27,427 19,298
Other creditors & accruals 148,562 148,146
191,880 180,323

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 17,333 25,333
Hire purchase contracts 4,471 9,597
21,804 34,930