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Registered Number: 14172618


 

 

 

SOUTH WEST VEHICLE IMPORTS LTD


Abridged Accounts
 


Period of accounts

Start date: 14 June 2022

End date: 30 June 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
MHC and Co Ltd
30 June 2023



....................................................
MHC and Co Ltd
54 Gloucester Road North

Bristol
BS7 0SJ
13 March 2024
1
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 2,450 
2,450 
Current assets    
Stocks 56,497 
Debtors 892 
Cash at bank and in hand 2,272 
59,661 
Creditors: amount falling due within one year (2,931)
Net current assets 56,730 
 
Total assets less current liabilities 59,180 
Creditors: amount falling due after more than one year (47,883)
Net assets 11,297 
 

Capital and reserves
   
Called up share capital 100 
Profit and loss account 11,197 
Shareholder's funds 11,297 
 


For the period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 March 2024 and were signed by:


-------------------------------
AWAISI Muhammad Muhsin Karim
Director
2
General Information
South West Vehicle Imports Ltd is a private company, limited by shares, registered in , registration number 14172618, registration address 31 Lockleaze Road, Bristol, England, BS7 9RP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 18% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 14 June 2022  
Additions 2,988    2,988 
Disposals  
At 30 June 2023 2,988    2,988 
Depreciation
At 14 June 2022  
Charge for period 538    538 
On disposals  
At 30 June 2023 538    538 
Net book values
Closing balance as at 30 June 2023 2,450    2,450 
Opening balance as at 14 June 2022  


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