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REGISTERED NUMBER: 05733628 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Scotts Vehicle Holdings Limited

Scotts Vehicle Holdings Limited (Registered number: 05733628)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Scotts Vehicle Holdings Limited (Registered number: 05733628)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,239,095 1,914,344

CURRENT ASSETS
Debtors 5 383,048 336,379
Cash at bank 88,482 15,483
471,530 351,862
CREDITORS
Amounts falling due within one year 6 1,032,048 822,332
NET CURRENT LIABILITIES (560,518 ) (470,470 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,678,577 1,443,874

CREDITORS
Amounts falling due after more than one year 7 (1,296,858 ) (1,106,988 )

PROVISIONS FOR LIABILITIES (163,718 ) (99,093 )
NET ASSETS 218,001 237,793

CAPITAL AND RESERVES
Called up share capital 118 118
Share premium 10,854 10,854
Retained earnings 207,029 226,821
SHAREHOLDERS' FUNDS 218,001 237,793

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

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

The director acknowledges her 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2024 and were signed by:





Mrs H L Cotgrove - Director


Scotts Vehicle Holdings Limited (Registered number: 05733628)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Scotts Vehicle Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05733628

Registered office: Arclid Green Industrial Estate Arclid Gr
Arclid
Sandbach
CW11 4SY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Scotts Vehicle Holdings Limited (Registered number: 05733628)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 - 5,377 3,213,198 3,218,575
Additions 4,292 - 1,305,029 1,309,321
Disposals - - (281,395 ) (281,395 )
At 31 December 2023 4,292 5,377 4,236,832 4,246,501
DEPRECIATION
At 1 January 2023 - 2,785 1,301,446 1,304,231
Charge for year 1,073 1,296 847,092 849,461
Eliminated on disposal - - (146,286 ) (146,286 )
At 31 December 2023 1,073 4,081 2,002,252 2,007,406
NET BOOK VALUE
At 31 December 2023 3,219 1,296 2,234,580 2,239,095
At 31 December 2022 - 2,592 1,911,752 1,914,344

Scotts Vehicle Holdings Limited (Registered number: 05733628)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 2,966,980
Additions 1,147,730
Disposals (126,944 )
Transfer to ownership (721,455 )
At 31 December 2023 3,266,311
DEPRECIATION
At 1 January 2023 1,144,150
Charge for year 653,262
Eliminated on disposal (51,201 )
Transfer to ownership (383,697 )
At 31 December 2023 1,362,514
NET BOOK VALUE
At 31 December 2023 1,903,797
At 31 December 2022 1,822,830

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 350,412 319,553
Other debtors 32,636 16,826
383,048 336,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 814,568 664,015
Trade creditors 65,072 39,183
Amounts owed to joint ventures 124,810 96,810
Other creditors 17,598 12,324
1,032,048 822,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 1,282,691 1,082,821
1,296,858 1,106,988

Scotts Vehicle Holdings Limited (Registered number: 05733628)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 2,097,259 1,746,836

Hire purchase loans are secured on the assets to which they relate.