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REGISTERED NUMBER: 03236264 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UNIVERSAL COMMERCIAL VEHICLES LIMITED

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


UNIVERSAL COMMERCIAL VEHICLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P R Webb





REGISTERED OFFICE: 5 Deacon Way
Tilehurst
Reading
Berkshire
RG30 6AZ





REGISTERED NUMBER: 03236264 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 163,073 166,738
163,073 166,738

CURRENT ASSETS
Stocks 25,013 22,005
Debtors 6 232,009 247,986
Cash at bank and in hand 121,433 49,035
378,455 319,026
CREDITORS
Amounts falling due within one year 7 150,508 191,223
NET CURRENT ASSETS 227,947 127,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,020

294,541

CREDITORS
Amounts falling due after more than one
year

8

(175,000

)

(175,000

)

PROVISIONS FOR LIABILITIES (19,659 ) -
NET ASSETS 196,361 119,541

CAPITAL AND RESERVES
Called up share capital 10 210,000 210,000
Retained earnings (13,639 ) (90,459 )
SHAREHOLDERS' FUNDS 196,361 119,541

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 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.

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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 and authorised for issue by the director and authorised for issue on 4 September 2024 and were signed by:





P R Webb - Director


UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


1. STATUTORY INFORMATION

Universal Commercial Vehicles 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.

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill being the amount paid in connection with two businesses the first in 1998 and the second in 2001. This expenditure has subsequently been amortised to nil value by the Directors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property 25% on reducing balance and straight line over 15 years.
Plant and equipment 20% on reducing balance and straight line over 15 years.
Fixtures and fittings 25% on cost
Computer equipment 25% on cost
Motor vehicles 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.

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


2. ACCOUNTING POLICIES - continued
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.

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 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 44,103
AMORTISATION
At 1 April 2023
and 31 March 2024 44,103
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 April 2023 152,620 318,029 470,649
Additions - 44,015 44,015
Disposals - (119,456 ) (119,456 )
At 31 March 2024 152,620 242,588 395,208
DEPRECIATION
At 1 April 2023 100,224 203,687 303,911
Charge for year 6,115 41,565 47,680
Eliminated on disposal - (119,456 ) (119,456 )
At 31 March 2024 106,339 125,796 232,135
NET BOOK VALUE
At 31 March 2024 46,281 116,792 163,073
At 31 March 2023 52,396 114,342 166,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 186,684 190,136
Other debtors 45,325 57,850
232,009 247,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 33,497 43,183
Taxation and social security 57,478 45,455
Other creditors 59,533 102,585
150,508 191,223

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 175,000 175,000

UNIVERSAL COMMERCIAL VEHICLES LIMITED (REGISTERED NUMBER: 03236264)

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


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 132,600 -
Between one and five years 663,000 693,000
In more than five years 198,900 -
994,500 693,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
210,000 Ordinary £1 210,000 210,000

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£ £
P R Webb
Balance outstanding at start of year 15,448 -
Amounts advanced - 15,448
Amounts repaid (15,448 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,448