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REGISTERED NUMBER: 08777471 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Breckland Vehicle Specialists Ltd

Breckland Vehicle Specialists Ltd (Registered number: 08777471)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Breckland Vehicle Specialists Ltd

Company Information
for the year ended 31st March 2024







DIRECTORS: Mr S J Moore
Mr B Bryant





REGISTERED OFFICE: Hereward Way
Weeting
Brandon
Suffolk
IP27 0QN





REGISTERED NUMBER: 08777471 (England and Wales)





ACCOUNTANTS: TWR Accountants
The Old Registrars
57a High Street
Brandon
Suffolk
IP27 0AU

Breckland Vehicle Specialists Ltd (Registered number: 08777471)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,634 32,053

CURRENT ASSETS
Stocks 382,879 179,650
Debtors 5 146,983 353,299
Cash at bank and in hand 49,965 8,829
579,827 541,778
CREDITORS
Amounts falling due within one year 6 194,615 159,434
NET CURRENT ASSETS 385,212 382,344
TOTAL ASSETS LESS CURRENT LIABILITIES 416,846 414,397

CREDITORS
Amounts falling due after more than one
year

7

318,683

284,556
NET ASSETS 98,163 129,841

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 98,063 129,741
98,163 129,841

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Breckland Vehicle Specialists Ltd (Registered number: 08777471)

Balance Sheet - continued
31st 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 11th October 2024 and were signed on its behalf by:





Mr S J Moore - Director


Breckland Vehicle Specialists Ltd (Registered number: 08777471)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Breckland Vehicle Specialists 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% 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.

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.

Breckland Vehicle Specialists Ltd (Registered number: 08777471)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 34,957 26,800 7,676 69,433
Additions 5,199 1,200 1,395 7,794
Disposals - (1,000 ) - (1,000 )
At 31st March 2024 40,156 27,000 9,071 76,227
DEPRECIATION
At 1st April 2023 22,822 11,265 3,293 37,380
Charge for year 2,600 3,996 867 7,463
Eliminated on disposal - (250 ) - (250 )
At 31st March 2024 25,422 15,011 4,160 44,593
NET BOOK VALUE
At 31st March 2024 14,734 11,989 4,911 31,634
At 31st March 2023 12,135 15,535 4,383 32,053

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,380 33,164
Other debtors 103,170 314,670
Prepayments 433 5,465
146,983 353,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 54,748 37,173
Tax 7,693 25,059
Social security and other taxes 2,619 -
VAT 27,197 22,268
Other creditors 55,211 51,058
Directors' loan accounts 14,125 20,726
Accrued expenses 33,022 3,150
194,615 159,434

Breckland Vehicle Specialists Ltd (Registered number: 08777471)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 318,683 284,556

8. RELATED PARTY DISCLOSURES

During the year the company bought goods totalling £85,250 (2023: £42,515) from Car2trade Ltd, a company in which Mr S J Moore and Mr B Bryant are directors. Mr B Bryant is also a shareholder in Car2trade Ltd. During the year the company sold goods and services totalling £14,101 (2023: £119,281) to Car2trade Ltd. During the year the company loaned monies totalling £7,624 (2023: £27,822 to Car2trade Ltd. At the balance sheet date the company owed £46,856 (2023: £39,232) to Car2trade Ltd.

During the year the company bought goods totalling £9,000 (2023: £5,600) from Emporium Car Sales Ltd, a company in which Mr S J Moore is also a director and shareholder. During the year the company sold goods and services totalling £52,380 (2023: £49,494) to Emporium Car Sales Ltd. During the year the company repaid loan monies totalling £905 (2023: loan monies £500) to Emporium Car Sales Ltd. At the balance sheet date the company owed £6,917 (2023: £8,401) to Emporium Car Sales Ltd.





9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors collectively by virtue of their 100% shareholding in the parent company Autoshares Ltd.