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Registered Number: 11813731
England and Wales

 

 

 


Abridged Accounts

for the year ended 29 February 2024

for

LEGACY VEHICLES LTD

Report to the directors on the preparation of the unaudited statutory accounts of Legacy Vehicles Ltd for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Legacy Vehicles Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Legacy Vehicles Ltd, as a body, in accordance with the terms of our engagement letter dated 25 November 2024 Our work has been undertaken solely to prepare for your approval the accounts of Legacy Vehicles Ltd and state those matters that we have agreed to state to the Board of Directors of Legacy Vehicles Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Legacy Vehicles Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Legacy Vehicles Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Legacy Vehicles Ltd. You consider that Legacy Vehicles Ltd 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 accounts of Legacy Vehicles Ltd. 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 accounts
29 February 2024



....................................................
The Z Squared Group Ltd
The Z Squared Group Limited

Riverdale House
21a High Street
Wheathampstead
AL4 8BB
25 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 35,149    45,413 
35,149    45,413 
Current assets      
Stocks 35,939    35,939 
Debtors 28,682    11,040 
Cash at bank and in hand 6,551    966 
71,172    47,945 
Creditors: amount falling due within one year (83,876)   (50,371)
Net current assets (12,704)   (2,426)
 
Total assets less current liabilities 22,445    42,987 
Creditors: amount falling due after more than one year (16,084)   (23,496)
Provisions for liabilities (5,886)   1,217 
Net assets 475    20,708 
 

Capital and reserves
     
Called up share capital 4 10    10 
Profit and loss account 465    20,698 
Shareholders' funds 475    20,708 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 25 November 2024 and were signed by:


-------------------------------
Thomas Allen
Director
2
General Information
Legacy Vehicles Ltd is a private company, limited by shares, registered in England and Wales, registration number 11813731, registration address Riverdale House, 21a High Street, Wheathampstead, Hertfordshire, AL4 8BB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 March 2023 5,896    60,884    839    3,536    71,155 
Additions       1,162    1,162 
Disposals        
At 29 February 2024 5,896    60,884    839    4,698    72,317 
Depreciation
At 01 March 2023 2,463    21,465    213    1,601    25,742 
Charge for year 859    9,855    164    548    11,426 
On disposals        
At 29 February 2024 3,322    31,320    377    2,149    37,168 
Net book values
Closing balance as at 29 February 2024 2,574    29,564    462    2,549    35,149 
Opening balance as at 01 March 2023 3,433    39,419    626    1,935    45,413 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
10 Class A shares of £1.00 each 10    10 
10    10 

3