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Registration number: 11624416

HumberVehicle Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

HumberVehicle Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

HumberVehicle Solutions Ltd

Company Information

Director

Lee Nelsey

Registered office

Ings View Garage
Main Road
Gilberdyle
Brough
East Yorkshire
HU15 2SL

Accountants

Paul Bloor
8 Brough Road
South Cave
Brough
East Yorkshire
HU15 2BX

 

HumberVehicle Solutions Ltd

(Registration number: 11624416)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

625

Current assets

 

Stocks

5

-

34,786

Cash at bank and in hand

 

-

1,226

 

-

36,012

Creditors: Amounts falling due within one year

7

(24,893)

(11,224)

Net current (liabilities)/assets

 

(24,893)

24,788

Total assets less current liabilities

 

(24,893)

25,413

Creditors: Amounts falling due after more than one year

7

-

(27,655)

Net liabilities

 

(24,893)

(2,242)

Capital and reserves

 

Called up share capital

8

3

3

Retained earnings

(24,896)

(2,245)

Shareholders' deficit

 

(24,893)

(2,242)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

 

HumberVehicle Solutions Ltd

(Registration number: 11624416)
Balance Sheet as at 31 October 2023

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 February 2024
 

.........................................
Lee Nelsey
Director

 

HumberVehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ings View Garage
Main Road
Gilberdyle
Brough
East Yorkshire
HU15 2SL
England

These financial statements were authorised for issue by the director on 8 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

HumberVehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Motor Vehicles

25% staight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

HumberVehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

2,500

2,500

At 31 October 2023

2,500

2,500

Depreciation

At 1 November 2022

1,875

1,875

Charge for the year

625

625

At 31 October 2023

2,500

2,500

Carrying amount

At 31 October 2023

-

-

At 31 October 2022

625

625

5

Stocks

2023
£

2022
£

Other inventories

-

34,786

6

Debtors

Current

2023
£

2022
£

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

23,693

977

Taxation and social security

 

-

9,248

Accruals and deferred income

 

1,200

1,000

Other creditors

 

-

(1)

 

24,893

11,224

Creditors: amounts falling due after more than one year

 

HumberVehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

27,655

8

Share capital

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

14,239

Other borrowings

-

13,416

-

27,655

2023
£

2022
£

Current loans and borrowings

Other borrowings

23,693

977

10

Related party transactions

 

HumberVehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,340

8,991