Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3022022-07-01falseProvision of vehicle leasing facilities2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10021336 2022-07-01 2023-06-30 10021336 2021-07-01 2022-06-30 10021336 2023-06-30 10021336 2022-06-30 10021336 c:Director1 2022-07-01 2023-06-30 10021336 c:Director2 2022-07-01 2023-06-30 10021336 c:RegisteredOffice 2022-07-01 2023-06-30 10021336 d:FurnitureFittings 2022-07-01 2023-06-30 10021336 d:FurnitureFittings 2023-06-30 10021336 d:FurnitureFittings 2022-06-30 10021336 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10021336 d:OfficeEquipment 2022-07-01 2023-06-30 10021336 d:OfficeEquipment 2023-06-30 10021336 d:OfficeEquipment 2022-06-30 10021336 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10021336 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10021336 d:CurrentFinancialInstruments 2023-06-30 10021336 d:CurrentFinancialInstruments 2022-06-30 10021336 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10021336 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10021336 d:ShareCapital 2023-06-30 10021336 d:ShareCapital 2022-06-30 10021336 d:RetainedEarningsAccumulatedLosses 2023-06-30 10021336 d:RetainedEarningsAccumulatedLosses 2022-06-30 10021336 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 10021336 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-06-30 10021336 c:FRS102 2022-07-01 2023-06-30 10021336 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10021336 c:FullAccounts 2022-07-01 2023-06-30 10021336 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 10021336









REPLACEMENT VEHICLES UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
REPLACEMENT VEHICLES UK LIMITED
 
 
COMPANY INFORMATION


Directors
R N Pearson 
J B Thorne 




Registered number
10021336



Registered office
9 Blenheim Court

Brook Way

Leatherhead

Surrey

KT22 7NA




Accountants
Haslers
Chartered Accountants

Old Station Road

Loughton

Essex

IG10 4PL





 
REPLACEMENT VEHICLES UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
REPLACEMENT VEHICLES UK LIMITED
REGISTERED NUMBER: 10021336

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,636
12,436

  
10,636
12,436

Current assets
  

Debtors: amounts falling due within one year
 5 
181,626
198,337

Cash at bank and in hand
 6 
25,320
28,841

  
206,946
227,178

Creditors: amounts falling due within one year
 7 
(148,664)
(166,668)

Net current assets
  
 
 
58,282
 
 
60,510

Total assets less current liabilities
  
68,918
72,946

  

Net assets
  
68,918
72,946


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
68,818
72,846

  
68,918
72,946


Page 1

 
REPLACEMENT VEHICLES UK LIMITED
REGISTERED NUMBER: 10021336
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 9 February 2024.


................................................
J B Thorne
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
REPLACEMENT VEHICLES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Replacement Vehicles UK Limited is a private company, limited by shares, incorporated in England and Wales, United Kingdom, with a registration number 10021336. The address of the registered office is 9 Blenheim Court, Brook Way, Leatherhead, Surrey KT22 7NA. The nature of the company's operations and principal activities are the provision of vehicle leasing facilities.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest pound Sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
REPLACEMENT VEHICLES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.5

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.

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:

Fixtures and fittings
-
20%
Reducing balance
Office equipment
-
10%
Straight line

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
REPLACEMENT VEHICLES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
REPLACEMENT VEHICLES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
3,752
14,294
18,046



At 30 June 2023

3,752
14,294
18,046



Depreciation


At 1 July 2022
1,898
3,712
5,610


Charge for the year on owned assets
371
1,429
1,800



At 30 June 2023

2,269
5,141
7,410



Net book value



At 30 June 2023
1,483
9,153
10,636



At 30 June 2022
1,854
10,582
12,436


5.


Debtors

2023
2022
£
£


Trade debtors
12,162
6,492

Amounts owed by group undertakings
162,084
180,584

Called up share capital not paid
100
100

Prepayments and accrued income
7,280
11,161

181,626
198,337



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,320
28,841

25,320
28,841


Page 6

 
REPLACEMENT VEHICLES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,917
25,093

Amounts owed to group undertakings
133,745
119,858

Corporation tax
-
12,341

Other taxation and social security
7,337
2,593

Accruals and deferred income
5,665
6,783

148,664
166,668



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
25,320
28,841




Financial assets measured at fair value through profit or loss comprise cash at bank.


9.


Related party transactions

The following amounts were due from related parties at the year end:


2023
2022
£
£

Entities under common control
28,339
60,725
28,339
60,725


10.


Controlling party

The ultimate controlling party is R Pearson due to his shareholding.

 
Page 7