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ATKINS LGV TRAINING LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Teale Accountants Ltd
1 Industrial Street
Bingley
West Yorkshire
BD16 4JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 5367027
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 299,561 341,647
299,561 341,647
CURRENT ASSETS
Debtors 6 25,567 24,823
Cash at bank and in hand 19,411 37,460
44,978 62,283
Creditors: Amounts Falling Due Within One Year 7 (109,904 ) (117,451 )
NET CURRENT ASSETS (LIABILITIES) (64,926 ) (55,168 )
TOTAL ASSETS LESS CURRENT LIABILITIES 234,635 286,479
Creditors: Amounts Falling Due After More Than One Year 8 (148,745 ) (214,981 )
NET ASSETS 85,890 71,498
CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium account 14,900 14,900
Profit and Loss Account 70,890 56,498
SHAREHOLDERS' FUNDS 85,890 71,498
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Sonia Atkin
Director
30/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
ATKINS LGV TRAINING LIMITED Registered number 5367027 is a limited by shares company incorporated in England & Wales. The Registered Office is Llamedos Stables, Fieldhead Lane, Drighlington, West Yorkshire, BD11 1JL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Reducing balance
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 14)
12 14
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 45,000
As at 31 March 2024 45,000
Amortisation
As at 1 April 2023 45,000
As at 31 March 2024 45,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 143,161 544,957 10,281 698,399
As at 31 March 2024 143,161 544,957 10,281 698,399
Depreciation
As at 1 April 2023 81,534 265,760 9,458 356,752
Provided during the period - 41,880 206 42,086
As at 31 March 2024 81,534 307,640 9,664 398,838
Net Book Value
As at 31 March 2024 61,627 237,317 617 299,561
As at 1 April 2023 61,627 279,197 823 341,647
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,567 24,823
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 42,673 44,522
Other taxes and social security 8,589 7,098
VAT 3,358 14,394
Funding circle loan 40,000 40,000
Accruals and deferred income 5,284 11,437
Director's loan account 10,000 -
109,904 117,451
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,334 48,008
Other loans 103,411 86,973
Funding circle 40,000 80,000
148,745 214,981
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 42,673 44,522
Later than one year and not later than five years 5,334 48,008
48,007 92,530
48,007 92,530
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is John Atkin by virtue of his ownership of 100% of the issued share capital in the company.
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