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REGISTERED NUMBER: 11218588 (England and Wales)















Vale Accident Repair Centre Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Vale Accident Repair Centre Limited (Registered number: 11218588)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vale Accident Repair Centre Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: N P Judd
J D Judd
C H N Judd





SECRETARY: C H N Judd





REGISTERED OFFICE: Cwm Draw Industrial Estate
Ebbw Vale
NP23 5AE





REGISTERED NUMBER: 11218588 (England and Wales)





ACCOUNTANTS: Griffiths Green Arnold
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Vale Accident Repair Centre Limited (Registered number: 11218588)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,683 26,715

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 5 73,466 71,718
Cash at bank 26,154 16,851
102,120 91,069
CREDITORS
Amounts falling due within one year 6 88,962 80,152
NET CURRENT ASSETS 13,158 10,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,841

37,632

CREDITORS
Amounts falling due after more than one year 7 10,003 16,007
NET ASSETS 25,838 21,625

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,738 21,525
25,838 21,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




N P Judd - Director


Vale Accident Repair Centre Limited (Registered number: 11218588)

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

1. STATUTORY INFORMATION

Vale Accident Repair Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

The company made a loss during the year ended 31 October 2021 and at that date had net liabilities of £56,698. The company is therefore dependent upon the continuing support of its directors and major creditors.

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.
Long leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Vale Accident Repair Centre Limited (Registered number: 11218588)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 2,470 38,716 857 42,043
DEPRECIATION
At 1 November 2022 988 13,931 409 15,328
Charge for year 247 3,717 68 4,032
At 31 October 2023 1,235 17,648 477 19,360
NET BOOK VALUE
At 31 October 2023 1,235 21,068 380 22,683
At 31 October 2022 1,482 24,785 448 26,715

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 71,309 69,866
Other debtors 2,157 1,852
73,466 71,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 6,906 4,950
Taxation and social security 18,891 17,243
Other creditors 63,165 57,959
88,962 80,152

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Other creditors 10,003 16,007