Caseware UK (AP4) 2022.0.179 2022.0.179 236221212022-10-01falsefalseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02901517 2022-10-01 2023-09-30 02901517 2021-10-01 2022-09-30 02901517 2023-09-30 02901517 2022-09-30 02901517 2021-10-01 02901517 c:Director1 2022-10-01 2023-09-30 02901517 d:Buildings 2022-10-01 2023-09-30 02901517 d:Buildings 2023-09-30 02901517 d:Buildings 2022-09-30 02901517 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:Buildings d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:Buildings d:LongLeaseholdAssets 2022-10-01 2023-09-30 02901517 d:Buildings d:LongLeaseholdAssets 2023-09-30 02901517 d:Buildings d:LongLeaseholdAssets 2022-09-30 02901517 d:PlantMachinery 2022-10-01 2023-09-30 02901517 d:PlantMachinery 2023-09-30 02901517 d:PlantMachinery 2022-09-30 02901517 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:MotorVehicles 2022-10-01 2023-09-30 02901517 d:MotorVehicles 2023-09-30 02901517 d:MotorVehicles 2022-09-30 02901517 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:FurnitureFittings 2022-10-01 2023-09-30 02901517 d:FurnitureFittings 2023-09-30 02901517 d:FurnitureFittings 2022-09-30 02901517 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 02901517 d:OtherPropertyPlantEquipment 2023-09-30 02901517 d:OtherPropertyPlantEquipment 2022-09-30 02901517 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02901517 d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 02901517 d:CurrentFinancialInstruments 2023-09-30 02901517 d:CurrentFinancialInstruments 2022-09-30 02901517 d:Non-currentFinancialInstruments 2023-09-30 02901517 d:Non-currentFinancialInstruments 2022-09-30 02901517 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02901517 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 02901517 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 02901517 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 02901517 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 02901517 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 02901517 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 02901517 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-09-30 02901517 c:OrdinaryShareClass1 2022-10-01 2023-09-30 02901517 c:OrdinaryShareClass1 2023-09-30 02901517 c:OrdinaryShareClass1 2022-09-30 02901517 c:FRS102 2022-10-01 2023-09-30 02901517 c:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 02901517 c:FullAccounts 2022-10-01 2023-09-30 02901517 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 02901517 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 02901517 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 02901517 2 2022-10-01 2023-09-30 02901517 5 2022-10-01 2023-09-30 02901517 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 02901517 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-30 02901517 d:LeasedAssetsHeldAsLessee 2023-09-30 02901517 d:LeasedAssetsHeldAsLessee 2022-09-30 02901517 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02901517










C.V.M.E. Truck Rental Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 September 2023





 
C.V.M.E. Truck Rental Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of C.V.M.E. Truck Rental Limited for the year ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.V.M.E. Truck Rental Limited for the year ended 30 September 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of C.V.M.E. Truck Rental Limited, as a body, in accordance with the terms of our engagement letter dated 9 December 2020Our work has been undertaken solely to prepare for your approval the financial statements of C.V.M.E. Truck Rental Limited  and state those matters that we have agreed to state to the Board of directors of C.V.M.E. Truck Rental Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.V.M.E. Truck Rental Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that C.V.M.E. Truck Rental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.V.M.E. Truck Rental Limited. You consider that C.V.M.E. Truck Rental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of C.V.M.E. Truck Rental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
1 December 2023
Page 1

 
C.V.M.E. Truck Rental Limited
Registered number: 02901517

Balance sheet
As at 30 September 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
12,497,413
13,172,934

  
12,497,413
13,172,934

Current assets
  

Stocks
  
26,000
40,074

Debtors: amounts falling due within one year
 5 
1,148,452
1,476,447

Cash at bank and in hand
  
858,774
514,817

  
2,033,226
2,031,338

Creditors: amounts falling due within one year
 6 
(3,517,857)
(3,466,134)

Net current liabilities
  
 
 
(1,484,631)
 
 
(1,434,796)

Total assets less current liabilities
  
11,012,782
11,738,138

  

Creditors: amounts falling due after more than one year
 7 
(6,235,772)
(7,576,134)

  
4,777,010
4,162,004

Provisions for liabilities
  

Deferred taxation
 9 
(935,351)
(765,042)

  
 
 
(935,351)
 
 
(765,042)

  

Net assets excluding pension asset
  
3,841,659
3,396,962

Net assets
  
3,841,659
3,396,962


Capital and reserves
  

Called up share capital 
 10 
100,000
100,000

Revaluation reserve
  
198,301
203,023

Profit and loss account
  
3,543,358
3,093,939

  
3,841,659
3,396,962


Page 2

 
C.V.M.E. Truck Rental Limited
Registered number: 02901517

Balance sheet (continued)
As at 30 September 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 December 2023.




Mr Philip Browning
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

1.


General information

C.V.M.E. Truck Rental Limited is a private company limited by shares which was incorporated in England and Wales.
The company’s registered office is C.V.M.E. Truck Rental Limited, Wilcox Close, Aylesham Industrial Estate, Aylesham, Kent CT3 3EP.
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
15% on reducing balance
Motor vehicles
-
15% on reducing balance
Fixtures and fittings
-
15% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 6

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 7

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

2.Accounting policies (continued)

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 8

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 21).


4.


Tangible fixed assets





Freehold property
Improve-  ments to property
Plant and machinery
Motor vehicles owned
Fixtures and fittings

£
£
£
£
£



Cost or valuation


At 1 October 2022
550,000
155,952
273,769
710,530
69,066


Additions
-
-
11,600
1,092,932
-


Disposals
-
-
(1,000)
(456,200)
(11,798)


Transfers between classes
-
-
-
630,594
-



At 30 September 2023

550,000
155,952
284,369
1,977,856
57,268



Depreciation


At 1 October 2022
77,000
140,205
204,520
288,649
55,197


Charge for the year on owned assets
11,000
2,362
11,608
173,152
995


Charge for the year on financed assets
-
-
-
-
-


Disposals
-
-
(490)
(120,344)
(4,652)


Transfers between classes
-
-
-
270,568
-



At 30 September 2023

88,000
142,567
215,638
612,025
51,540



Net book value



At 30 September 2023
462,000
13,385
68,731
1,365,831
5,728



At 30 September 2022
473,000
15,747
69,249
421,881
13,869
Page 9

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

           4.Tangible fixed assets (continued)


Motor vehicles held under hire purchase
Total

£
£



Cost or valuation


At 1 October 2022
15,694,571
17,453,888


Additions
1,774,800
2,879,332


Disposals
(1,885,404)
(2,354,402)


Transfers between classes
(630,594)
-



At 30 September 2023

14,953,373
17,978,818



Depreciation


At 1 October 2022
3,515,384
4,280,955


Charge for the year on owned assets
-
199,117


Charge for the year on financed assets
1,851,564
1,851,564


Disposals
(724,745)
(850,231)


Transfers between classes
(270,568)
-



At 30 September 2023

4,371,635
5,481,405



Net book value



At 30 September 2023
10,581,738
12,497,413



At 30 September 2022
12,179,188
13,172,934

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
10,581,738
12,179,188

10,581,738
12,179,188

Page 10

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023
 
Cost or valuation at 30 September 2023 is as follows:

Land and buildings
£


At cost
610,667
At valuation:

Professional valuation
95,285



705,952

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
610,667
610,667

Accumulated depreciation
(190,417)
(185,695)

Net book value
420,250
424,972


5.


Debtors

2023
2022
£
£


Trade debtors
779,801
723,465

Amounts owed by group undertakings
224,953
708,289

Other debtors
129
-

Prepayments and accrued income
143,569
44,693

1,148,452
1,476,447



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
17,086
30,518

Trade creditors
477,190
275,093

Other taxation and social security
327,458
172,818

Obligations under finance lease and hire purchase contracts
2,432,298
2,701,505

Other creditors
263,825
286,200

3,517,857
3,466,134


Page 11

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
192,271
197,644

Net obligations under finance leases and hire purchase contracts
6,043,501
7,378,490

6,235,772
7,576,134



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
17,086
30,518


17,086
30,518

Amounts falling due 1-2 years

Bank loans
18,086
30,518


18,086
30,518

Amounts falling due 2-5 years

Bank loans
54,258
91,554


54,258
91,554

Amounts falling due after more than 5 years

Bank loans
119,927
75,572

119,927
75,572

209,357
228,162


Page 12

 
C.V.M.E. Truck Rental Limited
 

 
Notes to the financial statements
For the year ended 30 September 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(765,042)
(568,396)


Charged to profit or loss
(170,309)
(196,646)



At end of year
(935,351)
(765,042)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances net of tax losses
(935,351)
(765,042)

(935,351)
(765,042)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100,000 (2022 - 100,000) Ordinary shares of £1.00 each
100,000
100,000



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.


12.


Related party transactions

Included within debtors is an amount in the sum of £223,603 (2022: £707,119) owing from CVME Truck Services Limited a company owned and controlled by Mr P Browning. 
Included within other creditors is an amount in the sum of £9,100 (2022: £55,958) owing to Mr P Browning. 
During the year the company charged management fees in the sum of £2,216,377 (2022: £1,286,287) to CVME Truck Services Limited.
All other related party transactions were conducted under normal market conditions.


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