Company registration number 12649206 (England and Wales)
LIGHTNING VEHICLE MOVEMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
LIGHTNING VEHICLE MOVEMENTS LTD
COMPANY INFORMATION
Director
Mr J P Bush
Company number
12649206
Registered office
12 Rectory Close
Stanwick
Wellingborough
Northants
NN9 6QR
Accountants
McShane Wright
2 College Street
Higham Ferrers
Northamptonshire
UK
NN10 8DZ
LIGHTNING VEHICLE MOVEMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LIGHTNING VEHICLE MOVEMENTS LTD
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,368
2,445
Current assets
Debtors
6,685
5,948
Cash at bank and in hand
667
3,910
7,352
9,858
Creditors: amounts falling due within one year
(9,811)
(12,297)
Net current liabilities
(2,459)
(2,439)
Net (liabilities)/assets
(1,091)
6
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,191)
(94)
Total equity
(1,091)
6

The notes on pages 2 to 4 form part of these financial statements.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 13 March 2024
Mr J P Bush
Director
Company Registration No. 12649206
LIGHTNING VEHICLE MOVEMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Lightning Vehicle Movements Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Rectory Close, Stanwick, Wellingborough, Northants, NN9 6QR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost
Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LIGHTNING VEHICLE MOVEMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Total
£
Cost
At 1 July 2022
4,892
Additions
195
At 30 June 2023
5,087
Depreciation and impairment
At 1 July 2022
2,447
Depreciation charged in the year
1,272
At 30 June 2023
3,719
Carrying amount
At 30 June 2023
1,368
At 30 June 2022
2,445
LIGHTNING VEHICLE MOVEMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
4
Directors' transactions

Dividends totalling £28,000 (2022 - £21,500) were paid in the year in respect of shares held by the company's directors.

At the year end the director owed the company £3,534 (2022 £5,377). This is included in other debtors.

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