0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,870 17,992 5,000 5,345 10,345 1,713 1,713 8,632 5,000 xbrli:pure xbrli:shares iso4217:GBP 13366900 2023-05-01 2024-04-30 13366900 2024-04-30 13366900 2023-04-30 13366900 2022-05-01 2023-04-30 13366900 2023-04-30 13366900 2022-04-30 13366900 core:PlantMachinery 2023-05-01 2024-04-30 13366900 bus:LeadAgentIfApplicable 2023-05-01 2024-04-30 13366900 bus:Director1 2023-05-01 2024-04-30 13366900 bus:Director2 2023-05-01 2024-04-30 13366900 core:PlantMachinery 2024-04-30 13366900 core:WithinOneYear 2024-04-30 13366900 core:WithinOneYear 2023-04-30 13366900 core:ShareCapital 2024-04-30 13366900 core:ShareCapital 2023-04-30 13366900 core:RetainedEarningsAccumulatedLosses 2024-04-30 13366900 core:RetainedEarningsAccumulatedLosses 2023-04-30 13366900 core:PlantMachinery 2023-04-30 13366900 core:PlantMachinery 2023-04-30 13366900 bus:Director1 2023-04-30 13366900 bus:Director1 2024-04-30 13366900 bus:Director1 2023-04-30 13366900 bus:Director1 2022-05-01 2023-04-30 13366900 bus:SmallEntities 2023-05-01 2024-04-30 13366900 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13366900 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13366900 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13366900 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 13366900
BB Truck & Van Sales Ltd
Unaudited Financial Statements
30 April 2024
BB Truck & Van Sales Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
9
BB Truck & Van Sales Ltd
Directors' Report
Year ended 30 April 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Directors
The directors who served the company during the year were as follows:
Mr B Lee
Mr W Lee
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 January 2025 and signed on behalf of the board by:
Mr B Lee
Director
BB Truck & Van Sales Ltd
Statement of Income and Retained Earnings
Year ended 30 April 2024
2024
2023
Note
£
£
Turnover
3,348,001
1,462,528
Cost of sales
3,300,550
1,415,078
------------
------------
Gross profit
47,451
47,450
Administrative expenses
49,754
29,720
--------
--------
Operating (loss)/profit
( 2,303)
17,730
Other interest receivable and similar income
433
262
--------
--------
(Loss)/profit before taxation
4
( 1,870)
17,992
Tax on (loss)/profit
-------
--------
(Loss)/profit for the financial year and total comprehensive income
( 1,870)
17,992
-------
--------
All the activities of the company are from continuing operations.
BB Truck & Van Sales Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
8,632
5,000
Current assets
Stocks
265,678
202,676
Debtors
6
69,600
13,207
Cash at bank and in hand
36,403
77,224
---------
---------
371,681
293,107
Creditors: amounts falling due within one year
7
383,491
299,415
---------
---------
Net current liabilities
11,810
6,308
--------
-------
Total assets less current liabilities
( 3,178)
( 1,308)
-------
-------
Net liabilities
( 3,178)
( 1,308)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 3,278)
( 1,408)
-------
-------
Shareholders deficit
( 3,178)
( 1,308)
-------
-------
These financial statements have been prepared 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'.
For the year ending 30 April 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 15 January 2025 , and are signed on behalf of the board by:
Mr B Lee
Director
Company registration number: 13366900
BB Truck & Van Sales Ltd
Notes to the Financial Statements
Year ended 30 April 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 Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT.
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
The company's accounts have been produced under the going concern basis.
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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
20% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
1,713
-------
----
5. Tangible assets
Plant and machinery
£
Cost
At 1 May 2023
5,000
Additions
5,345
--------
At 30 April 2024
10,345
--------
Depreciation
At 1 May 2023
Charge for the year
1,713
--------
At 30 April 2024
1,713
--------
Carrying amount
At 30 April 2024
8,632
--------
At 30 April 2023
5,000
--------
6. Debtors
2024
2023
£
£
Other debtors
69,600
13,207
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
377,014
290,915
Other creditors
6,477
8,500
---------
---------
383,491
299,415
---------
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Lee
( 6,900)
2,023
( 4,877)
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Lee
( 6,900)
( 6,900)
----
-------
-------
9. Related party transactions
The company was under the control of Mr W Lee and Mr B Lee in the current and previous year. Mr W Lee and Mr B Lee are the joint shareholders. Included in the other creditors figure are loans of £290,000 (2023 - £200,000) due to WV Properties Ltd and £87,014.86 (2023 - £90,914.86) due to Truck and Van Plus Ltd. Both these companies are controlled by Mr W Lee and Mr B Lee , respectively.
BB Truck & Van Sales Ltd
Management Information
Year ended 30 April 2024
The following pages do not form part of the financial statements.
BB Truck & Van Sales Ltd
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of BB Truck & Van Sales Ltd
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BB Truck & Van Sales Ltd for the year ended 30 April 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of BB Truck & Van Sales Ltd, as a body, in accordance with the terms of our engagement letter dated 1 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of BB Truck & Van Sales Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BB Truck & Van Sales Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that BB Truck & Van Sales Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BB Truck & Van Sales Ltd. You consider that BB Truck & Van Sales Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of BB Truck & Van Sales Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
REID & CO CORPORATE SERVICES LIMITED Chartered accountants
Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
15 January 2025