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REGISTERED NUMBER: 06423225 (England and Wales)


























Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Ausom Vehicle Management Limited

Ausom Vehicle Management Limited (Registered number: 06423225)






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




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 6

Notes to the Financial Statements 7


Ausom Vehicle Management Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D I Stratton
A J Cristin





SECRETARY: Ms J E Stratton





REGISTERED OFFICE: Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES





REGISTERED NUMBER: 06423225 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Ausom Vehicle Management Limited (Registered number: 06423225)

Report of the Directors
for the Year Ended 31 May 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

D I Stratton
A J Cristin

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D I Stratton - Director


15 October 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ausom Vehicle Management Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ausom Vehicle Management Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ausom Vehicle Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ausom Vehicle Management Limited and state those matters that we have agreed to state to the Board of Directors of Ausom Vehicle Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ausom Vehicle Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ausom Vehicle Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ausom Vehicle Management Limited. You consider that Ausom Vehicle Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ausom Vehicle Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


15 October 2024

Ausom Vehicle Management Limited (Registered number: 06423225)

Income Statement
for the Year Ended 31 May 2024

2024 2023
Notes £    £   

TURNOVER 468,579 438,153

Cost of sales 272,612 252,499
GROSS PROFIT 195,967 185,654

Administrative expenses 171,042 167,258
OPERATING PROFIT 4 24,925 18,396

Interest receivable and similar income 1,195 -
26,120 18,396

Interest payable and similar expenses 6,152 8,470
PROFIT BEFORE TAXATION 19,968 9,926

Tax on profit 5 (2,270 ) (12,099 )
PROFIT FOR THE FINANCIAL YEAR 22,238 22,025

Ausom Vehicle Management Limited (Registered number: 06423225)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 12,386 9,750
Tangible assets 7 88,467 95,971
100,853 105,721

CURRENT ASSETS
Debtors 8 92,604 101,428
Cash at bank 60,754 17,319
153,358 118,747
CREDITORS
Amounts falling due within one year 9 135,115 91,576
NET CURRENT ASSETS 18,243 27,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,096

132,892

CREDITORS
Amounts falling due after more than one
year

10

(48,762

)

(62,360

)

PROVISIONS FOR LIABILITIES (3,602 ) (4,038 )
NET ASSETS 66,732 66,494

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 41,732 41,494
66,732 66,494

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

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





D I Stratton - Director


Ausom Vehicle Management Limited (Registered number: 06423225)

Statement of Changes in Equity
for the Year Ended 31 May 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 25,000 33,469 58,469

Changes in equity
Dividends - (14,000 ) (14,000 )
Total comprehensive income - 22,025 22,025
Balance at 31 May 2023 25,000 41,494 66,494

Changes in equity
Dividends - (22,000 ) (22,000 )
Total comprehensive income - 22,238 22,238
Balance at 31 May 2024 25,000 41,732 66,732

Ausom Vehicle Management Limited (Registered number: 06423225)

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

1. STATUTORY INFORMATION

Ausom Vehicle Management 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - 10% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 50% on cost and 33% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Ausom Vehicle Management Limited (Registered number: 06423225)

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

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 8 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 29,192 24,673
Computer software amortisation 2,669 2,600

5. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 5,419 -
Prior year over provision (7,253 ) -
Research & development claim - (10,556 )
Total current tax (1,834 ) (10,556 )

Deferred tax (436 ) (1,543 )
Tax on profit (2,270 ) (12,099 )

6. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 13,000
Additions 5,305
At 31 May 2024 18,305
AMORTISATION
At 1 June 2023 3,250
Charge for year 2,669
At 31 May 2024 5,919
NET BOOK VALUE
At 31 May 2024 12,386
At 31 May 2023 9,750

Ausom Vehicle Management Limited (Registered number: 06423225)

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

7. TANGIBLE FIXED ASSETS
Fixtures
Land and and Motor Computer
Buildings fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 15,986 2,458 153,412 8,956 180,812
Additions - 850 34,114 6,916 41,880
Disposals - - (32,308 ) - (32,308 )
At 31 May 2024 15,986 3,308 155,218 15,872 190,384
DEPRECIATION
At 1 June 2023 1,458 1,924 74,317 7,142 84,841
Charge for year 1,599 602 24,628 2,363 29,192
Eliminated on disposal - - (12,116 ) - (12,116 )
At 31 May 2024 3,057 2,526 86,829 9,505 101,917
NET BOOK VALUE
At 31 May 2024 12,929 782 68,389 6,367 88,467
At 31 May 2023 14,528 534 79,095 1,814 95,971

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,598 84,811
Other debtors 5,006 16,617
92,604 101,428

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 23,537 19,990
Trade creditors 19,492 10,786
Taxation and social security 52,066 34,278
Other creditors 40,020 26,522
135,115 91,576

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 48,762 62,360

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 72,299 82,350

Obligations under hire purchase are secured on the related assets.