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REGISTERED NUMBER: 08149357 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2024

for

A B Vehicle Services Ltd

A B Vehicle Services Ltd (Registered number: 08149357)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A B Vehicle Services Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A J Botterill
A D Botterill





SECRETARY: Mrs H Botterill





REGISTERED OFFICE: 58 Valley Road
Overseal
Swadlincote
Derbyshire
DE12 6NN





REGISTERED NUMBER: 08149357 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

A B Vehicle Services Ltd (Registered number: 08149357)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,015 65,391

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 5 24,749 28,490
Cash at bank and in hand 97,653 62,098
123,602 91,788
CREDITORS
Amounts falling due within one year 6 113,156 85,133
NET CURRENT ASSETS 10,446 6,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,461

72,046

CREDITORS
Amounts falling due after more than one
year

7

(44,557

)

(28,401

)

PROVISIONS FOR LIABILITIES (17,658 ) (12,409 )
NET ASSETS 41,246 31,236

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 41,146 31,136
SHAREHOLDERS' FUNDS 41,246 31,236

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.

A B Vehicle Services Ltd (Registered number: 08149357)

Statement of Financial Position - 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 13 September 2024 and were signed on its behalf by:




A J Botterill - Director



A D Botterill - Director


A B Vehicle Services Ltd (Registered number: 08149357)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

A B Vehicle 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

A B Vehicle Services Ltd (Registered number: 08149357)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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.

Loans from directors
Any loans from the Director's to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 41,285 1,717 62,721 2,032 107,755
Additions 2,540 - 50,800 - 53,340
At 31 March 2024 43,825 1,717 113,521 2,032 161,095
DEPRECIATION
At 1 April 2023 16,414 1,499 23,049 1,402 42,364
Charge for year 2,738 44 22,619 315 25,716
At 31 March 2024 19,152 1,543 45,668 1,717 68,080
NET BOOK VALUE
At 31 March 2024 24,673 174 67,853 315 93,015
At 31 March 2023 24,871 218 39,672 630 65,391

A B Vehicle Services Ltd (Registered number: 08149357)

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 44,163
Additions 50,800
At 31 March 2024 94,963
DEPRECIATION
At 1 April 2023 11,041
Charge for year 20,981
At 31 March 2024 32,022
NET BOOK VALUE
At 31 March 2024 62,941
At 31 March 2023 33,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,570 27,346
Prepayments 1,179 1,144
24,749 28,490

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 25,750 14,818
Trade creditors 51,422 41,305
Tax 19,512 9,310
Social security and other taxes 2,458 2,794
VAT 5,776 2,945
Other creditors 742 1,138
Directors' current accounts 4,577 10,372
Accrued expenses 2,919 2,451
113,156 85,133

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 44,557 28,401

A B Vehicle Services Ltd (Registered number: 08149357)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
20 Ordinary C & D £1 20 20
100 100