Company Registration No. 07512821 (England and Wales)
VW Taxation Ltd
Unaudited accounts
for the year ended 31 March 2024
VW Taxation Ltd
Unaudited accounts
Contents
VW Taxation Ltd
Company Information
for the year ended 31 March 2024
Company Number
07512821 (England and Wales)
Registered Office
82A HIGH STREET
COSHAM
PORTSMOUTH
HAMPSHIRE
PO6 3AJ
Accountants
VW Taxation Ltd
82a High Street
Cosham
Hampshire
PO6 3AJ
VW Taxation Ltd
Statement of financial position
as at 31 March 2024
Intangible assets
70,667
86,667
Tangible assets
3,949
27,402
Cash at bank and in hand
5,486
2,913
Creditors: amounts falling due within one year
(123,616)
(120,301)
Net current liabilities
(14,674)
(75,445)
Total assets less current liabilities
59,942
38,624
Creditors: amounts falling due after more than one year
(95,264)
(36,113)
Net (liabilities)/assets
(35,322)
2,511
Called up share capital
100
100
Profit and loss account
(35,422)
2,411
Shareholders' funds
(35,322)
2,511
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 August 2024 and were signed on its behalf by
Gary Ellis
Director
Company Registration No. 07512821
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2024
VW Taxation Ltd is a private company, limited by shares, registered in England and Wales, registration number 07512821. The registered office is 82A HIGH STREET, COSHAM, PORTSMOUTH, HAMPSHIRE, PO6 3AJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is calculated so as to write off the cost of an asset, less it's estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years straight line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% Straight Line
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill
Charge for the year
16,000
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
14,583
5,087
26,653
46,323
Disposals
-
(5,087)
(26,653)
(31,740)
At 31 March 2024
14,583
-
-
14,583
At 1 April 2023
6,988
4,154
7,779
18,921
Charge for the year
3,646
424
8,686
12,756
On disposals
-
(4,578)
(16,465)
(21,043)
At 31 March 2024
10,634
-
-
10,634
At 31 March 2024
3,949
-
-
3,949
At 31 March 2023
7,595
933
18,874
27,402
Amounts falling due within one year
Accrued income and prepayments
22,776
1,737
Other debtors
80,680
24,680
VW Taxation Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
63,660
44,003
Obligations under finance leases and hire purchase contracts
2,478
2,478
Trade creditors
24,285
44,929
Taxes and social security
24,765
24,929
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,206
9,684
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).