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REGISTERED NUMBER: 10498522 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

OLNEY VEHICLE SOLUTIONS LIMITED

OLNEY VEHICLE SOLUTIONS LIMITED (REGISTERED NUMBER: 10498522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLNEY VEHICLE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: J J Honour





REGISTERED OFFICE: Nest Farm
Northampton Road
Lavendon
Olney
MK46 4HP





REGISTERED NUMBER: 10498522 (England and Wales)





ACCOUNTANTS: 80K Limited
59a Day's Lane
Biddenham
Bedford
Bedfordshire
MK40 4AE

OLNEY VEHICLE SOLUTIONS LIMITED (REGISTERED NUMBER: 10498522)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,147 1,508

CURRENT ASSETS
Stocks 120,867 142,628
Debtors 5 - 5,895
Cash at bank 84,764 37,329
205,631 185,852
CREDITORS
Amounts falling due within one year 6 (127,683 ) (97,442 )
NET CURRENT ASSETS 77,948 88,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,095

89,918

CREDITORS
Amounts falling due after more than one
year

7

(17,500

)

(27,500

)
NET ASSETS 61,595 62,418

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 61,493 62,316
SHAREHOLDERS' FUNDS 61,595 62,418

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

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

OLNEY VEHICLE SOLUTIONS LIMITED (REGISTERED NUMBER: 10498522)

BALANCE SHEET - continued
30 NOVEMBER 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 13 February 2024 and were signed by:





J J Honour - Director


OLNEY VEHICLE SOLUTIONS LIMITED (REGISTERED NUMBER: 10498522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Olney Vehicle Solutions 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 and 25% on cost

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.

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 1 (2022 - 1 ) .

OLNEY VEHICLE SOLUTIONS LIMITED (REGISTERED NUMBER: 10498522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 12,245
DEPRECIATION
At 1 December 2022 10,737
Charge for year 361
At 30 November 2023 11,098
NET BOOK VALUE
At 30 November 2023 1,147
At 30 November 2022 1,508

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 5,895

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 8,057 5,220
Other creditors 109,626 82,222
127,683 97,442

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,500 27,500