Registered number
08878917
(England & Wales)
Allied Vehicle Assist Ltd
Filleted Accounts
31 July 2024
Allied Vehicle Assist Ltd
Registered number: 08878917
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 5 41,667 48,810
Cash at bank and in hand 282 524
41,949 49,334
Creditors: amounts falling due within one year 6 (13,670) (14,186)
Net current assets 28,279 35,148
Total assets less current liabilities 28,279 35,148
Creditors: amounts falling due after more than one year 7 (31,667) (38,810)
Net liabilities (3,388) (3,662)
Capital and reserves
Called up share capital 1 1
Profit and loss account (3,389) (3,663)
Shareholder's funds (3,388) (3,662)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Juned Natha
Director
Approved by the board on 9 October 2024
Allied Vehicle Assist Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Taxation
Corporation tax has not been provided as the company made a taxable loss of £4,323. The loss will be carried forward to utilise against future profits of the company.

Deferred taxation has not been provided because any timing differences will be covered by the trading losses.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 August 2023 8,333
Disposals (8,333)
At 31 July 2024 -
Depreciation
At 1 August 2023 8,333
On disposals (8,333)
At 31 July 2024 -
Net book value
At 31 July 2024 -
5 Debtors 2024 2023
£ £
Other debtors 41,667 48,810
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Taxation and social security costs 381 196
Director's account 239 240
Accruals and deferred income 3,050 3,750
13,670 14,186
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 31,667 38,810
8 Related party transactions
Directors account as shown in note 6 is owed to the director Mr Juned Natha. The loan is unsecured, interest free and repayable on demand. The maximum balance of the loan during the year was £240 (2023: 240)
9 Controlling party
The ultimate controlling party is the director and sole shareholder Mr Juned Natha.
10 Other information
Allied Vehicle Assist Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Flexspace Business Centre
Manchester Road
Bolton
Lancashire
BL3 2NZ
Allied Vehicle Assist Ltd 08878917 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Juned Natha No description of principal activity 08878917 2022-08-01 2023-07-31 08878917 core:WithinOneYear 2023-07-31 08878917 core:AfterOneYear 2023-07-31 08878917 core:ShareCapital 2023-07-31 08878917 core:RetainedEarningsAccumulatedLosses 2023-07-31 08878917 2023-08-01 2024-07-31 08878917 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08878917 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08878917 bus:Director40 2023-08-01 2024-07-31 08878917 1 2023-08-01 2024-07-31 08878917 2 2023-08-01 2024-07-31 08878917 core:Vehicles 2023-08-01 2024-07-31 08878917 countries:England 2023-08-01 2024-07-31 08878917 bus:FRS102 2023-08-01 2024-07-31 08878917 bus:FilletedAccounts 2023-08-01 2024-07-31 08878917 2024-07-31 08878917 core:WithinOneYear 2024-07-31 08878917 core:AfterOneYear 2024-07-31 08878917 core:ShareCapital 2024-07-31 08878917 core:RetainedEarningsAccumulatedLosses 2024-07-31 08878917 core:Vehicles 2024-07-31 08878917 2023-07-31 08878917 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure