Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07076435 Mr Steven Andrew Manning Mrs Sarah Manning iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07076435 2023-03-31 07076435 2024-03-31 07076435 2023-04-01 2024-03-31 07076435 frs-core:CurrentFinancialInstruments 2024-03-31 07076435 frs-core:Non-currentFinancialInstruments 2024-03-31 07076435 frs-core:BetweenOneFiveYears 2024-03-31 07076435 frs-core:FurnitureFittings 2024-03-31 07076435 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07076435 frs-core:FurnitureFittings 2023-03-31 07076435 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 07076435 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07076435 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 07076435 frs-core:MotorVehicles 2024-03-31 07076435 frs-core:MotorVehicles 2023-04-01 2024-03-31 07076435 frs-core:MotorVehicles 2023-03-31 07076435 frs-core:PlantMachinery 2024-03-31 07076435 frs-core:PlantMachinery 2023-04-01 2024-03-31 07076435 frs-core:PlantMachinery 2023-03-31 07076435 frs-core:WithinOneYear 2024-03-31 07076435 frs-core:ShareCapital 2024-03-31 07076435 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07076435 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07076435 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07076435 frs-bus:SmallEntities 2023-04-01 2024-03-31 07076435 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07076435 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07076435 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07076435 frs-bus:OrdinaryShareClass1 2024-03-31 07076435 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 07076435 frs-bus:OrdinaryShareClass2 2024-03-31 07076435 frs-bus:Director1 2023-04-01 2024-03-31 07076435 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07076435 frs-countries:EnglandWales 2023-04-01 2024-03-31 07076435 2022-03-31 07076435 2023-03-31 07076435 2022-04-01 2023-03-31 07076435 frs-core:CurrentFinancialInstruments 2023-03-31 07076435 frs-core:Non-currentFinancialInstruments 2023-03-31 07076435 frs-core:BetweenOneFiveYears 2023-03-31 07076435 frs-core:WithinOneYear 2023-03-31 07076435 frs-core:ShareCapital 2023-03-31 07076435 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07076435 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07076435 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31
Registered number: 07076435
Specialist Vehicle Solutions Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07076435
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 246,129 100,963
246,129 100,963
CURRENT ASSETS
Stocks 5 2,045,350 1,659,901
Debtors 6 667,119 529,137
Cash at bank and in hand 920,878 1,139,440
3,633,347 3,328,478
Creditors: Amounts Falling Due Within One Year 7 (438,417 ) (292,676 )
NET CURRENT ASSETS (LIABILITIES) 3,194,930 3,035,802
TOTAL ASSETS LESS CURRENT LIABILITIES 3,441,059 3,136,765
Creditors: Amounts Falling Due After More Than One Year 8 (75,936 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (53,178 ) (16,613 )
NET ASSETS 3,311,945 3,120,152
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 3,311,745 3,119,952
SHAREHOLDERS' FUNDS 3,311,945 3,120,152
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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 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.
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
Mr Steven Andrew Manning
Director
23 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Specialist Vehicle Solutions Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07076435 . The registered office is Fisher Street, Dudley Port, Tipton, DY4 8XE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Vehicle hire
Turnover from vehicle hire is recognised on a contract by contract basis across the hire period on a straightline basis. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 2%
Plant & Machinery 10%
Motor Vehicles 20%
Fixtures & Fittings 10%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated sales price, minus any estimated sales and refurbishment costs.  At each reporting date the stocks are assessed for impairment.  If stocks are impaired, their carrying value is reduced to its selling price less costs to complete and sell.  Impairment losses are recognised immediately in the profit and loss account.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 30,763 60,665 28,700 38,533 158,661
Additions - 10,950 158,355 1,464 170,769
As at 31 March 2024 30,763 71,615 187,055 39,997 329,430
Depreciation
As at 1 April 2023 4,284 33,292 2,149 17,973 57,698
Provided during the period 615 6,321 14,758 3,909 25,603
As at 31 March 2024 4,899 39,613 16,907 21,882 83,301
Net Book Value
As at 31 March 2024 25,864 32,002 170,148 18,115 246,129
As at 1 April 2023 26,479 27,373 26,551 20,560 100,963
5. Stocks
2024 2023
£ £
Stock 2,045,350 1,659,901
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 489,014 454,705
Prepayments and accrued income 178,105 74,432
667,119 529,137
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,214 -
Trade creditors 122,071 96,756
Other taxes and social security 180,143 159,412
Other creditors 19,933 22,748
Accruals and deferred income 101,315 11,236
Director's loan account 4,741 2,524
438,417 292,676
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 75,936 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,214 -
Later than one year and not later than five years 75,936 -
86,150 -
86,150 -
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
200 200
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