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Company Registration No. 05301680 (England and Wales)
Adaptive Vehicle Solutions Limited Unaudited accounts for the year ended 29 February 2024
Adaptive Vehicle Solutions Limited Unaudited accounts Contents
Page
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Adaptive Vehicle Solutions Limited Company Information for the year ended 29 February 2024
Director
Richard Blakeney
Company Number
05301680 (England and Wales)
Registered Office
27-28 Gelliwastad Road Pontypridd CF37 2BW Wales
Accountants
R H Jeffs & Rowe Ltd 27-28 Gelliwastad Road Pontypridd CF37 2BW
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Adaptive Vehicle Solutions Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,476 
9,690 
Investments
33,050 
33,050 
44,526 
42,740 
Current assets
Inventories
235,240 
239,990 
Debtors
357,801 
317,534 
Cash at bank and in hand
167,762 
312,708 
760,803 
870,232 
Creditors: amounts falling due within one year
(64,574)
(167,784)
Net current assets
696,229 
702,448 
Total assets less current liabilities
740,755 
745,188 
Creditors: amounts falling due after more than one year
(23,280)
(31,365)
Net assets
717,475 
713,823 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
717,375 
713,723 
Shareholders' funds
717,475 
713,823 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2024 and were signed on its behalf by
Richard Blakeney Director Company Registration No. 05301680
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Adaptive Vehicle Solutions Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Adaptive Vehicle Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 05301680. The registered office is 27-28 Gelliwastad Road, Pontypridd, CF37 2BW, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Adaptive Vehicle Solutions Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
26,213 
80,971 
107,184 
Additions
- 
4,780 
4,780 
At 29 February 2024
26,213 
85,751 
111,964 
Depreciation
At 1 March 2023
24,208 
73,286 
97,494 
Charge for the year
501 
2,493 
2,994 
At 29 February 2024
24,709 
75,779 
100,488 
Net book value
At 29 February 2024
1,504 
9,972 
11,476 
At 28 February 2023
2,005 
7,685 
9,690 
5
Investments
Other investments 
£ 
Valuation at 1 March 2023
33,050 
Valuation at 29 February 2024
33,050 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
351,941 
317,534 
Accrued income and prepayments
5,860 
- 
357,801 
317,534 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
11,509 
34,300 
Trade creditors
345 
11,840 
Taxes and social security
13,419 
61,784 
Other creditors
3,427 
3,381 
Loans from directors
33,174 
54,279 
Accruals
2,700 
2,200 
64,574 
167,784 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,280 
31,365 
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Adaptive Vehicle Solutions Limited Notes to the Accounts for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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