IRIS Accounts Production v23.3.1.45 03078095 director 1.7.22 30.6.23 30.6.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030780952022-06-30030780952023-06-30030780952022-07-012023-06-30030780952021-06-30030780952021-07-012022-06-30030780952022-06-3003078095ns10:Originalns15:EnglandWales2022-07-012023-06-3003078095ns14:PoundSterlingns10:Original2022-07-012023-06-3003078095ns10:Originalns10:Director12022-07-012023-06-3003078095ns10:Original2022-07-012023-06-3003078095ns10:Original2023-06-3003078095ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3003078095ns10:Originalns10:SmallEntities2022-07-012023-06-3003078095ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3003078095ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3003078095ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3003078095ns10:Originalns10:FullAccounts2022-07-012023-06-3003078095ns10:Original12022-07-012023-06-3003078095ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3003078095ns10:CompanySecretary1ns10:Original2022-07-012023-06-3003078095ns10:Originalns10:RegisteredOffice2022-07-012023-06-3003078095ns10:Original2022-06-3003078095ns10:Originalns5:CurrentFinancialInstruments2023-06-3003078095ns10:Originalns5:CurrentFinancialInstruments2022-06-3003078095ns10:Originalns5:Non-currentFinancialInstruments2023-06-3003078095ns10:Originalns5:Non-currentFinancialInstruments2022-06-3003078095ns5:ShareCapitalns10:Original2023-06-3003078095ns5:ShareCapitalns10:Original2022-06-3003078095ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3003078095ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3003078095ns10:Originalns5:NetGoodwill2022-07-012023-06-3003078095ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3003078095ns10:Originalns5:PlantMachinery2022-07-012023-06-3003078095ns10:Original2021-07-012022-06-3003078095ns10:Originalns5:NetGoodwill2022-06-3003078095ns10:Originalns5:NetGoodwill2023-06-3003078095ns10:Originalns5:NetGoodwill2022-06-3003078095ns10:Originalns5:PlantMachinery2022-06-3003078095ns10:Originalns5:PlantMachinery2023-06-3003078095ns10:Originalns5:PlantMachinery2022-06-3003078095ns10:Originalns5:LeasedAssetsHeldAsLessee2022-07-012023-06-3003078095ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3003078095ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3003078095ns10:Originalns5:DeferredTaxation2022-06-3003078095ns10:Originalns5:DeferredTaxation2023-06-3003078095ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 03078095 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

The Village Motor Company Limited

The Village Motor Company Limited (Registered number: 03078095)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Village Motor Company Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: J Whitehead





SECRETARY: Miss S E Roberts





REGISTERED OFFICE: 7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP





REGISTERED NUMBER: 03078095 (England and Wales)





ACCOUNTANTS: Danton Partners
7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP

The Village Motor Company Limited (Registered number: 03078095)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,571,093 2,023,441
2,571,093 2,023,441

CURRENT ASSETS
Stocks 205,505 287,199
Debtors 6 45,140 28,284
Cash at bank and in hand 431,397 530,875
682,042 846,358
CREDITORS
Amounts falling due within one year 7 620,900 808,258
NET CURRENT ASSETS 61,142 38,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,632,235

2,061,541

CREDITORS
Amounts falling due after more than one
year

8

(984,203

)

(605,726

)

PROVISIONS FOR LIABILITIES 10 (201,605 ) (156,190 )
NET ASSETS 1,446,427 1,299,625

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 1,446,227 1,299,425
SHAREHOLDERS' FUNDS 1,446,427 1,299,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

The Village Motor Company Limited (Registered number: 03078095)

Balance Sheet - continued
30 June 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 director and authorised for issue on 12 March 2024 and were signed by:





J Whitehead - Director


The Village Motor Company Limited (Registered number: 03078095)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The Village Motor Company 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.

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 recognised when the goods are physically delivered to the customer and when services are provided.

Goodwill
Goodwill, being an amount paid in connection with the acquisition of a business, has been fully written off in previous years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, at variable rates on reducing balance and at varying rates on cost

Government grants
Government grants received for fleet vehicles are accounted for by deduction from the cost of the related vehicle.

Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.

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.


The Village Motor Company Limited (Registered number: 03078095)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 32,000
AMORTISATION
At 1 July 2022
and 30 June 2023 32,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

The Village Motor Company Limited (Registered number: 03078095)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 3,003,252
Additions 1,133,283
Disposals (488,417 )
At 30 June 2023 3,648,118
DEPRECIATION
At 1 July 2022 979,811
Charge for year 275,498
Eliminated on disposal (178,284 )
At 30 June 2023 1,077,025
NET BOOK VALUE
At 30 June 2023 2,571,093
At 30 June 2022 2,023,441

The net book value of assets included above held under finance leases and hire purchase contracts is £1,668,569 (2022 - £1,494,212).
Depreciation charged this year in respect of these assets was £173,738 (2022 - £225,687).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 22,608 8,105
Other debtors 22,532 20,179
45,140 28,284

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 498,209 687,311
Trade creditors 25,679 48,889
Taxation and social security 79,529 8,450
Other creditors 17,483 63,608
620,900 808,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 984,203 605,726

The Village Motor Company Limited (Registered number: 03078095)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. SECURED DEBTS

National Westminster Bank plc holds a charge in the form of a mortgage debenture securing all monies due or to become due to them by the company. The security is by way of a fixed and floating charge over undertaking and all property and assets present and future. No amounts were owed to National Westminster Bank plc at the balance sheet date.

Lombard North Central plc hold a charge in the form of a charge over sub-hire agreements securing all monies due or to become due from the company to them under the terms of the sub-hire agreement. Amounts owing to Lombard under HP contracts and finance leasing agreements are included in creditors .

Handelsbanken plc hold a charge in the form of a charge over sub-hire agreement securing all monies due or to become due from the company to them under the terms of the sub-hire agreement. Amounts owing to Handelsbanken under HP contracts and finance leasing agreements are included in creditors.

Lloyds (Lloyds Bank plc and Lloyds UDT Leasing Ltd) hold a charge in the form of an HP sub-hire agreement securing all sums due to Lloyds pursuant to the terms of the Sub-Hire agreement (whether present, future, actual or contingent) or any other agreement between the company and Lloyds or any other finance or credit facility that is granted to the company by Lloyds. Amounts owing to Lloyds under HP contracts and finance leasing agreements are included in creditors.

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 201,605 156,190

Deferred
tax
£   
Balance at 1 July 2022 156,190
Accelerated capital allowances 45,415
Balance at 30 June 2023 201,605

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
200 Ordinary £1 200 200

12. RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £1,703 (2022 - £157) owed to J Whitehead, the sole director and majority shareholder of the company.

There are no fixed terms for repayment of this amount which is interest free.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, J Whitehead, by virtue of his 90% shareholding in the company.