Company registration number 04442277 (England and Wales)
VEHICLE WIRING PRODUCTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
VEHICLE WIRING PRODUCTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VEHICLE WIRING PRODUCTS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,634
2,955
Current assets
Stocks
81,360
89,761
Debtors
5
32,310
49,871
Cash at bank and in hand
62,168
57,800
175,838
197,432
Creditors: amounts falling due within one year
6
(45,219)
(76,873)
Net current assets
130,619
120,559
Total assets less current liabilities
132,253
123,514
Provisions for liabilities
(301)
(812)
Net assets
131,952
122,702
Capital and reserves
Called up share capital
600
600
Profit and loss reserves
131,352
122,102
Total equity
131,952
122,702

For the financial year ended 31 July 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 January 2025 and are signed on its behalf by:
Mr V P Pindard
Director
Company registration number 04442277 (England and Wales)
VEHICLE WIRING PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Vehicle Wiring Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Buxton Court, Manners Industrial Estate, Ilkeston, Derbyshire, DE7 8EF. The company registration number is 04442277.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Financial instruments

Debtors

 

Short term debtors are measured at transaction price, less any impairment.

 

Creditors

 

Short term creditors are measured at the transaction price.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

VEHICLE WIRING PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
7
VEHICLE WIRING PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 August 2023
36,544
23,610
60,154
Additions
-
0
625
625
At 31 July 2024
36,544
24,235
60,779
Depreciation and impairment
At 1 August 2023
36,060
21,139
57,199
Depreciation charged in the year
105
1,841
1,946
At 31 July 2024
36,165
22,980
59,145
Carrying amount
At 31 July 2024
379
1,255
1,634
At 31 July 2023
484
2,471
2,955
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
29,613
48,040
Other debtors
2,697
1,831
32,310
49,871
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,542
37,098
Taxation and social security
8,016
30,276
Other creditors
10,661
9,499
45,219
76,873
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