4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 27,955 27,428 264 27,692 263 527 xbrli:pure xbrli:shares iso4217:GBP 11131141 2023-02-01 2024-01-31 11131141 2024-01-31 11131141 2023-01-31 11131141 2022-02-01 2023-01-31 11131141 2023-01-31 11131141 2022-01-31 11131141 core:PlantMachinery 2023-02-01 2024-01-31 11131141 bus:Director4 2023-02-01 2024-01-31 11131141 core:PlantMachinery 2023-01-31 11131141 core:PlantMachinery 2024-01-31 11131141 core:WithinOneYear 2024-01-31 11131141 core:WithinOneYear 2023-01-31 11131141 core:AfterOneYear 2024-01-31 11131141 core:AfterOneYear 2023-01-31 11131141 core:ShareCapital 2024-01-31 11131141 core:ShareCapital 2023-01-31 11131141 core:RetainedEarningsAccumulatedLosses 2024-01-31 11131141 core:RetainedEarningsAccumulatedLosses 2023-01-31 11131141 core:PlantMachinery 2023-01-31 11131141 bus:Director1 2023-02-01 2024-01-31 11131141 bus:SmallEntities 2023-02-01 2024-01-31 11131141 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11131141 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11131141 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11131141 bus:FullAccounts 2023-02-01 2024-01-31 11131141 core:KeyManagementPersonnel 2023-02-01 2024-01-31 11131141 core:AllAssociates 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 11131141
Dane Valley Vehicle Services Limited
Filleted Unaudited Financial Statements
31 January 2024
Dane Valley Vehicle Services Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Dane Valley Vehicle Services Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
263
527
Current assets
Debtors
6
3,694
27,568
Cash at bank and in hand
27,174
5,668
--------
--------
30,868
33,236
Creditors: amounts falling due within one year
7
51,705
60,434
--------
--------
Net current liabilities
20,837
27,198
--------
--------
Total assets less current liabilities
( 20,574)
( 26,671)
Creditors: amounts falling due after more than one year
8
889
784
--------
--------
Net liabilities
( 21,463)
( 27,455)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 21,563)
( 27,555)
--------
--------
Shareholders deficit
( 21,463)
( 27,455)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mrs A George
Director
Company registration number: 11131141
Dane Valley Vehicle Services Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 February 2023 and 31 January 2024
27,955
--------
Depreciation
At 1 February 2023
27,428
Charge for the year
264
--------
At 31 January 2024
27,692
--------
Carrying amount
At 31 January 2024
263
--------
At 31 January 2023
527
--------
6. Debtors
2024
2023
£
£
Trade debtors
3,694
2,568
Other debtors
25,000
-------
--------
3,694
27,568
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
701
2,853
Trade creditors
4,420
1,811
Social security and other taxes
19,712
12,360
Intercompany
17,153
Other creditors
26,872
26,257
--------
--------
51,705
60,434
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
889
784
----
----
9. Related party transactions
At the year end the company owed the directors £25,272 (2023: £24,657). Also at the year end the company owed £nil (2023: £17,153) to a company under common control.