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REGISTERED NUMBER: 13591349 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

MY VEHICLE LTD

MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MY VEHICLE LTD

COMPANY INFORMATION
for the Year Ended 31st August 2023







DIRECTOR: Mr J Willis





REGISTERED OFFICE: Unit 2 Tything Road East, Kinwarton
Alcester
B49 6ES





REGISTERED NUMBER: 13591349 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

BALANCE SHEET
31st August 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,922 68,177

CURRENT ASSETS
Stocks 5 10,520 10,417
Debtors 6 45,708 29,997
Cash at bank 6,837 14,159
63,065 54,573
CREDITORS
Amounts falling due within one year 7 50,770 47,967
NET CURRENT ASSETS 12,295 6,606
TOTAL ASSETS LESS CURRENT LIABILITIES 74,217 74,783

CREDITORS
Amounts falling due after more than one
year

8

(40,688

)

(47,833

)

PROVISIONS FOR LIABILITIES 9 (7,592 ) (5,460 )
NET ASSETS 25,937 21,490

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 25,837 21,390
SHAREHOLDERS' FUNDS 25,937 21,490

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

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

The director acknowledges his 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.

MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

BALANCE SHEET - continued
31st August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th February 2024 and were signed by:





Mr J Willis - Director


MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023


1. STATUTORY INFORMATION

My Vehicle Ltd 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.

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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.

MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


2. ACCOUNTING POLICIES - continued

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 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st September 2022 - 7,688 83,215 90,903
Additions 4,900 1,890 7,595 14,385
At 31st August 2023 4,900 9,578 90,810 105,288
DEPRECIATION
At 1st September 2022 - 1,922 20,804 22,726
Charge for year 1,225 1,914 17,501 20,640
At 31st August 2023 1,225 3,836 38,305 43,366
NET BOOK VALUE
At 31st August 2023 3,675 5,742 52,505 61,922
At 31st August 2022 - 5,766 62,411 68,177

5. STOCKS
31/8/23 31/8/22
£    £   
Stocks 10,520 10,417

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade debtors 32,828 20,800
Prepayments 12,880 9,197
45,708 29,997

MY VEHICLE LTD (REGISTERED NUMBER: 13591349)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Hire purchase contracts 7,145 7,145
Trade creditors 25,960 26,637
Tax 4,304 -
Social security and other taxes 600 -
VAT 7,859 6,703
Other creditors 2,807 3,440
Directors' loan accounts 709 1,793
Accrued expenses 1,386 2,249
50,770 47,967

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/8/23 31/8/22
£    £   
Hire purchase contracts 40,688 47,833

9. PROVISIONS FOR LIABILITIES
31/8/23 31/8/22
£    £   
Deferred tax
Accelerated capital allowances 7,592 9,956
Tax losses carried forward - (4,496 )
7,592 5,460

Deferred
tax
£   
Balance at 1st September 2022 5,460
Provided during year 2,132
Balance at 31st August 2023 7,592

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/23 31/8/22
value: £    £   
100 Ordinary £1 100 100