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
Adaptive Vehicle Solutions Limited
Company Information
for the year ended 29 February 2024
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
Adaptive Vehicle Solutions Limited
Statement of financial position
as at 29 February 2024
Tangible assets
11,476
9,690
Inventories
235,240
239,990
Cash at bank and in hand
167,762
312,708
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
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
Adaptive Vehicle Solutions Limited
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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 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.
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
At 29 February 2024
26,213
85,751
111,964
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
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
Amounts falling due within one year
Trade debtors
351,941
317,534
Accrued income and prepayments
5,860
-
7
Creditors: amounts falling due within one year
2024
2023
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
8
Creditors: amounts falling due after more than one year
2024
2023
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).