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REGISTERED NUMBER: 06506454 (England and Wales)















HUDDERSFIELD VOLVO BREAKERS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HUDDERSFIELD VOLVO BREAKERS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mr M Harris



SECRETARY: Mrs K Harris



REGISTERED OFFICE: 251 Hawthorne Way
Shelley
Huddersfield
West Yorkshire
HD8 8PZ



REGISTERED NUMBER: 06506454 (England and Wales)



ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS



BANKERS: HSBC Bank Plc
2 Cloth Hall Street
Huddersfield
HD1 2ES

HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 147,680 151,998

CURRENT ASSETS
Stocks 8,536 6,078
Debtors 5 - 539
Cash at bank and in hand 2,706 3,011
11,242 9,628
CREDITORS
Amounts falling due within one year 6 (54,337 ) (49,484 )
NET CURRENT LIABILITIES (43,095 ) (39,856 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,585

112,142

CREDITORS
Amounts falling due after more than one year 7 (83,550 ) (94,360 )

PROVISIONS FOR LIABILITIES 9 (66 ) (163 )
NET ASSETS 20,969 17,619

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,869 17,519
SHAREHOLDERS' FUNDS 20,969 17,619

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.

HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

BALANCE SHEET - 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 director and authorised for issue on 20 November 2024 and were signed by:





Mr M Harris - Director


HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Huddersfield Volvo Breakers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represented by the invoiced sales of goods, excluding VAT, which are recognised when the goods are provided.

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 - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.


HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 166,167 46,976 213,143
Disposals - (23,388 ) (23,388 )
At 31 March 2024 166,167 23,588 189,755
DEPRECIATION
At 1 April 2023 15,024 46,121 61,145
Charge for year 3,809 509 4,318
Eliminated on disposal - (23,388 ) (23,388 )
At 31 March 2024 18,833 23,242 42,075
NET BOOK VALUE
At 31 March 2024 147,334 346 147,680
At 31 March 2023 151,143 855 151,998

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 539

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,168 21,433
Trade creditors 6,532 10,488
Taxation and social security 3,348 7,315
Other creditors 8,289 10,248
54,337 49,484

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 83,550 94,360

HUDDERSFIELD VOLVO BREAKERS LIMITED (REGISTERED NUMBER: 06506454)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 16,510 27,320

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 100,310 111,120

Secured debts represents assistance received under the Bounce Back loan scheme granted by the Government.

Secured debts also represents mortgages which are secured against the property to which the mortgage relates.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 66 163

Deferred
tax
£   
Balance at 1 April 2023 163
Credit to Income Statement during year (97 )
Balance at 31 March 2024 66

10. RELATED PARTY DISCLOSURES

Loans owing to the director on an interest free basis of £3,819 (2023: £1,956) were outstanding at the year end. Loans will be repaid when funds permit.