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REGISTERED NUMBER: 01348173 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VISICK CARS LIMITED

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VISICK CARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S J Visick
E Walke
B Turner
A Crockett
R Visick





SECRETARY: E Walke





REGISTERED OFFICE: 24 Lottbridge Drove
Eastbourne
East Sussex
BN23 6NS





REGISTERED NUMBER: 01348173 (England and Wales)





ACCOUNTANTS: LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 486,009 502,164

CURRENT ASSETS
Stocks 12,178 13,050
Debtors 5 48,190 41,420
Cash at bank and in hand 482,407 410,758
542,775 465,228
CREDITORS
Amounts falling due within one year 6 205,686 202,050
NET CURRENT ASSETS 337,089 263,178
TOTAL ASSETS LESS CURRENT LIABILITIES 823,098 765,342

PROVISIONS FOR LIABILITIES 11,595 12,483
NET ASSETS 811,503 752,859

CAPITAL AND RESERVES
Called up share capital 7 1,162 1,148
Share premium 30,097 27,393
Capital redemption reserve 400 400
Retained earnings 779,844 723,918
SHAREHOLDERS' FUNDS 811,503 752,859

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

BALANCE SHEET - continued
31 DECEMBER 2023


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 12 April 2024 and were signed on its behalf by:





S J Visick - Director


VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Visick Cars 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Trade debtor provisions - A review is undertaken at the end of the accounting period to determine whether individual trade debtor balances are recoverable and an impairment provision is made based on that review.

Stocks - A physical inspection is undertaken to determine whether the stocks of parts, consumables, heating oil and MOT certificates align with stock records.

Amounts recoverable under contract - The value of work on vehicles being in progress at the year end is based on the estimated labour hours and parts devoted to each job as at the balance sheet date.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 2% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial Instruments are initially measured at the transaction price (this includes transaction cost except in the initial measurement of financial assets and liabilities that will be measured at fair value through profit or loss). If however the arrangement constitutes a financing transaction it is then measured at the present value of the future payments, discounted at a market related interest rate.

Trade and other receivables - Sales are made without providing significant credit terms. Other receivables are measured at amortised cost using the effective interest method. At the end of each reporting period, the carrying amounts of trade and other receivables are reviewed to determine whether there is any objective evidence that the amounts are not recoverable. If so, an impairment loss is recognised immediately in profit or loss.

Trade payables - Trade payables are obligations on the basis of normal credit terms and do not bear interest. Where appropriate, trade payables denominated in a foreign currency are translated into the relevant currency using the exchange rate at the reporting date. If relevant foreign exchange gains or losses are included in other income or other expenses.

Loans - Interest expense is recognised on the basis of the effective interest method and is included in finance costs.

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.


VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Government grants
Where government and local authority grants are received in relation to the running costs of the business, they are recognised as income in the profit & loss account as other operating income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 473,785 500,853 974,638
Additions - 7,011 7,011
Disposals - (2,000 ) (2,000 )
At 31 December 2023 473,785 505,864 979,649
DEPRECIATION
At 1 January 2023 154,390 318,084 472,474
Charge for year 8,126 14,596 22,722
Eliminated on disposal - (1,556 ) (1,556 )
At 31 December 2023 162,516 331,124 493,640
NET BOOK VALUE
At 31 December 2023 311,269 174,740 486,009
At 31 December 2022 319,395 182,769 502,164

Included in cost of land and buildings is freehold land of £ 67,500 (2022 - £ 67,500 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,475 25,967
Amounts recoverable on contracts 1,964 2,054
Other debtors 15,751 13,399
48,190 41,420

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,134 58,117
Taxation and social security 136,420 76,739
Other creditors 41,132 67,194
205,686 202,050

VISICK CARS LIMITED (REGISTERED NUMBER: 01348173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
996 A ordinary £1 996 996
1 B ordinary £1 1 1
1 C ordinary £1 1 1
149 D ordinary £1 163 149
1 E ordinary £1 1 1
1,162 1,148

All classes of shares carry equal voting rights and rank equally in the event of the winding up of the company.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B Turner
Balance outstanding at start of year - -
Amounts advanced 27,270 -
Amounts repaid (26,007 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,263 -

Interest at 2% on the above loan of £58 has been charged. The loan is unsecured and will be repaid within one year.