IMPORTMYVEHICLE.COM LIMITED

Company Registration Number:
05711750 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2024

Period of accounts

Start date: 01 March 2023

End date: 28 February 2024

IMPORTMYVEHICLE.COM LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2024

Balance sheet
Notes

IMPORTMYVEHICLE.COM LIMITED

Balance sheet

As at 28 February 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 4,362 6,362
Total fixed assets: 4,362 6,362
Current assets
Stocks: 10,433 15,433
Debtors: 4 285,319 277,232
Cash at bank and in hand: 113,231 112,170
Total current assets: 408,983 404,835
Creditors: amounts falling due within one year: 5 (372,279) (296,566)
Net current assets (liabilities): 36,704 108,269
Total assets less current liabilities: 41,066 114,631
Creditors: amounts falling due after more than one year: 6 (18,408) (91,949)
Provision for liabilities: (828) (1,209)
Total net assets (liabilities): 21,830 21,473
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 21,828 21,471
Shareholders funds: 21,830 21,473

The notes form part of these financial statements

IMPORTMYVEHICLE.COM LIMITED

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: N J Roach
Status: Director

The notes form part of these financial statements

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: -Plant and machinery - over 5 years

Other accounting policies

Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Foreign currency translation Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. Leased assets A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

2. Employees

2024 2023
Average number of employees during the period 8 8

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible Assets

Total
Cost £
At 01 March 2023 104,696
At 28 February 2024 104,696
Depreciation
At 01 March 2023 98,334
Charge for year 2,000
At 28 February 2024 100,334
Net book value
At 28 February 2024 4,362
At 28 February 2023 6,362

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

Bank loans and overdrafts - £79,447 (2023 - £60,986) Trade creditors - £243,112 (2023 - £195,423) Taxation and social security costs - £12,420 (2023 - £12,811) Other creditors - £37,300 (2023 - £27.346) Total creditors - £372,279 (2023 - £296,566)

IMPORTMYVEHICLE.COM LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

6. Creditors: amounts falling due after more than one year note

Bank loans- £nil (2023 - £76,447) Other creditors £18,408 (2023 - £15,502) Total creditors £18,408 (2023 - £91,949)