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REGISTERED NUMBER: 07713549 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

IMPERIAL LEISURE VEHICLES LTD

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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










Page

Balance sheet 1

Notes to the financial statements 2


IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,254 1,291

Current assets
Stocks 93,051 62,264
Debtors 5 7,761 1,172
Cash at bank 104,085 154,897
204,897 218,333
Creditors
Amounts falling due within one year 6 36,999 45,781
Net current assets 167,898 172,552
Total assets less current liabilities 169,152 173,843

Creditors
Amounts falling due after more than one year 7 (12,976 ) (23,131 )

Provisions for liabilities 8 (238 ) (275 )
Net assets 155,938 150,437

Capital and reserves
Called up share capital 9 60 60
Capital redemption reserve 40 40
Retained earnings 155,838 150,337
Shareholders' funds 155,938 150,437

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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:



Mr M Gough - Director


IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


1. Statutory information

Imperial Leisure Vehicles Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07713549. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address 9 Westgate Park, 28 Alumhurst Road, Bournemouth, Dorset, BH4 8ER.

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 represents amounts receivable for sales and repairs to leisure motor vehicles, net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 April 2023 722 2,072 2,794
Additions - 381 381
At 31 March 2024 722 2,453 3,175
Depreciation
At 1 April 2023 630 873 1,503
Charge for year 23 395 418
At 31 March 2024 653 1,268 1,921
Net book value
At 31 March 2024 69 1,185 1,254
At 31 March 2023 92 1,199 1,291

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Tax 88 -
VAT 5,371 -
Prepayments and accrued income 2,302 1,172
7,761 1,172

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,155 9,944
Trade creditors 17,895 12,764
Tax 2,463 13,611
VAT - 3,515
Other creditors 3,228 72
Directors' current accounts 1,263 3,380
Accruals and deferred income 1,995 2,495
36,999 45,781

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 10,371 10,155
Bank loans - 2-5 years 2,605 12,976
12,976 23,131

IMPERIAL LEISURE VEHICLES LTD (REGISTERED NUMBER: 07713549)

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


8. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 238 275

Deferred
tax
£   
Balance at 1 April 2023 275
Credit to Statement of comprehensive income during year (37 )
Balance at 31 March 2024 238

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 Ordinary £1 60 60

10. Ultimate controlling party

The Company is controlled by the director, Mr M Gough, who owns 100% of the issued share capital.