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REGISTERED NUMBER: 03631347 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J P Holland
Mrs M J Holland





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 03631347 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 183,822 153,509

CURRENT ASSETS
Stocks 5 79,808 24,920
Debtors 6 80,137 108,558
Cash at bank 75,696 50,677
235,641 184,155
CREDITORS
Amounts falling due within one year 7 99,528 106,141
NET CURRENT ASSETS 136,113 78,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,935

231,523

CREDITORS
Amounts falling due after more than one
year

8

(20,004

)

-

PROVISIONS FOR LIABILITIES (43,915 ) (33,524 )
NET ASSETS 256,016 197,999

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 255,916 197,899
256,016 197,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mrs M J Holland - Director


VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Vehicle Air Conditioning & Heating Services Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Property improvements - 20% on cost
Plant & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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.

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Property Plant & Motor Office
improvements equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 31,775 54,453 228,060 6,270 320,558
Additions - 26,110 95,920 582 122,612
Disposals - - (65,458 ) - (65,458 )
At 31 March 2024 31,775 80,563 258,522 6,852 377,712
DEPRECIATION
At 1 April 2023 22,765 26,187 115,498 2,599 167,049
Charge for year 6,355 13,594 45,732 1,064 66,745
Eliminated on disposal - - (39,904 ) - (39,904 )
At 31 March 2024 29,120 39,781 121,326 3,663 193,890
NET BOOK VALUE
At 31 March 2024 2,655 40,782 137,196 3,189 183,822
At 31 March 2023 9,010 28,266 112,562 3,671 153,509

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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 April 2023 69,905
Additions 45,520
Transfer to ownership (69,905 )
At 31 March 2024 45,520
DEPRECIATION
At 1 April 2023 33,041
Charge for year 11,380
Transfer to ownership (33,041 )
At 31 March 2024 11,380
NET BOOK VALUE
At 31 March 2024 34,140
At 31 March 2023 36,864

5. STOCKS
2024 2023
£    £   
Stocks 79,808 24,920

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 59,717 87,176
Other debtors 6,500 11,000
Prepayments 13,920 10,382
80,137 108,558

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 13,270 8,625
Trade creditors 10,576 54,307
Corporation tax 40,107 21,559
Social security and other taxes 5,335 4,247
VAT 21,395 5,196
Other creditors 5,160 6,296
Directors' current accounts 35 2,321
Accrued expenses 3,650 3,590
99,528 106,141

VEHICLE AIR CONDITIONING
& HEATING SERVICES LTD (REGISTERED NUMBER: 03631347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 20,004 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 13,270 8,625
Between one and five years 20,004 -
33,274 8,625

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,500 18,500
Between one and five years 35,458 53,958
53,958 72,458