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REGISTERED NUMBER: 01636071 (England and Wales)

















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 April 2024

for

T J Vickers & Sons Limited

T J Vickers & Sons Limited (Registered number: 01636071)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


T J Vickers & Sons Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr I F Vickers
Mr M Cole



REGISTERED OFFICE: Trench Road
Trench
Telford
Shropshire
TF2 6PL



REGISTERED NUMBER: 01636071 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr A J Poole



AUDITORS: Tranter Lowe (Oakengates) Limited
Statutory Auditor
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

T J Vickers & Sons Limited (Registered number: 01636071)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The results for the year and financial position of the company are as shown in the annexed financial statements and the financial position at the year end was considered satisfactory by the directors.

PRINCIPAL RISKS AND UNCERTAINTIES
The company monitors its risks on an ingoing basis. The directors are of the opinion that the principal risks facing the company relate to the wider economic conditions which remain challenging. The company has diversified its range of vehicles and the demand for the company's products remain strong. The directors are mindful of health and safety regulatory compliance and all aspects of public liability are comprehensively covered by appropriate insurance.

FUTURE DEVELOPMENTS
The Company has adjusted to - and continues to negotiate - the supply disruption and wider economic disruption which following Brexit and the Pandemic.This has affected the supply of vehicles, customer demand and margins.

The Company is working closely with its main suppliers and and attempting to source additional vehicles form other suppliers to minimise the risk of future disruption.

The Company has a diverse customer base and excellent reputation in the local area reducing its exposure to a downturn in trade.

FINANCIAL RISK MANAGEMENT
The company's operations expose it to a variety of financial risks that include credit risk and liquidity risk. The company has in place a risk management programme that limits the adverse effects on the financial performance of the company and the related finance costs by monitoring levels of debt finance.

Credit risk
The company has implemented policies that require appropriate credit checks on customers before sales are made.

Liquidity risk
The company actively maintains sufficient available funds within working capital to finance its future operations.

ON BEHALF OF THE BOARD:





Mr I F Vickers - Director


6 January 2025

T J Vickers & Sons Limited (Registered number: 01636071)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of garage proprietors. This comprises sales of new and used vehicles together with the provision of parts and motor repair services.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £ 74,818 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Mr I F Vickers
Mr M Cole

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Tranter Lowe (Oakengates) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr I F Vickers - Director


6 January 2025

Report of the Independent Auditors to the Members of
T J Vickers & Sons Limited

Opinion
We have audited the financial statements of T J Vickers & Sons Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
T J Vickers & Sons Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the computer component manufacturing and supply sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, FRS 102 and taxation legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and
- remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining any accounting estimates;
- investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
T J Vickers & Sons Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr A J Poole (Senior Statutory Auditor)
for and on behalf of Tranter Lowe (Oakengates) Limited
Statutory Auditor
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

6 January 2025

T J Vickers & Sons Limited (Registered number: 01636071)

Statement of Income and
Retained Earnings
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 26,305,556 24,502,481

Cost of sales 25,132,897 23,082,236
GROSS PROFIT 1,172,659 1,420,245

Administrative expenses 1,181,949 1,313,732
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (9,290 ) 106,513

Tax on (loss)/profit 5 26,756 12,119
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(36,046

)

94,394

Retained earnings at beginning of year 722,454 717,034

Dividends 6 (74,818 ) (88,974 )

RETAINED EARNINGS AT END OF
YEAR

611,590

722,454

T J Vickers & Sons Limited (Registered number: 01636071)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 454,907 494,750

CURRENT ASSETS
Stocks 9 3,337,330 2,913,334
Debtors 10 369,137 530,603
Cash at bank and in hand 281,700 497,906
3,988,167 3,941,843
CREDITORS
Amounts falling due within one year 11 3,783,975 3,687,029
NET CURRENT ASSETS 204,192 254,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

659,099

749,564

PROVISIONS FOR LIABILITIES 15 47,477 27,078
NET ASSETS 611,622 722,486

CAPITAL AND RESERVES
Called up share capital 16 32 32
Retained earnings 611,590 722,454
SHAREHOLDERS' FUNDS 611,622 722,486

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





Mr I F Vickers - Director


T J Vickers & Sons Limited (Registered number: 01636071)

Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (333,397 ) 113,039
Tax paid (19,839 ) (85,261 )
Net cash from operating activities (353,236 ) 27,778

Cash flows from investing activities
Purchase of tangible fixed assets (31,972 ) (59,095 )
Net cash from investing activities (31,972 ) (59,095 )

Cash flows from financing activities
New loans in year 248,820 96,268
Amount withdrawn by directors (5,000 ) (42,603 )
Equity dividends paid (74,818 ) (88,974 )
Net cash from financing activities 169,002 (35,309 )

Decrease in cash and cash equivalents (216,206 ) (66,626 )
Cash and cash equivalents at beginning of
year

2

497,906

564,532

Cash and cash equivalents at end of year 2 281,700 497,906

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Cash Flow Statement
for the Year Ended 30 April 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.4.24 30.4.23
£    £   
(Loss)/profit before taxation (9,290 ) 106,513
Depreciation charges 71,816 67,889
62,526 174,402
Increase in stocks (423,996 ) (373,986 )
Decrease/(increase) in trade and other debtors 161,465 (63,321 )
(Decrease)/increase in trade and other creditors (133,392 ) 375,944
Cash generated from operations (333,397 ) 113,039

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 281,700 497,906
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 497,906 564,532


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank and in hand 497,906 (216,206 ) 281,700
497,906 (216,206 ) 281,700
Debt
Debts falling due within 1 year (1,059,651 ) (248,820 ) (1,308,471 )
(1,059,651 ) (248,820 ) (1,308,471 )
Total (561,745 ) (465,026 ) (1,026,771 )

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

T J Vickers & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the Company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Computer equipment - 50% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension contributions
The Company operates a defined contribution pension scheme. The financial statements reflect contributions paid by the company during the year.

3. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 2,200,111 2,126,329
Social security costs 11,232 7,205
2,211,343 2,133,534

The average number of employees during the year was as follows:
30.4.24 30.4.23

Sales 27 25
Service 24 22
Administration 11 9
62 56

30.4.24 30.4.23
£    £   
Directors' remuneration 103,179 68,307

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

During the year the Company contributed £24,000 into a money purchase pension scheme on behalf of the directors.

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

30.4.24 30.4.23
£    £   
Equipment hire & leasing 6,160 7,218
Depreciation - owned assets 71,815 67,889
Auditors' remuneration 17,225 16,800

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax 6,357 19,840

Deferred tax 20,399 (7,721 )
Tax on (loss)/profit 26,756 12,119

6. DIVIDENDS
30.4.24 30.4.23
£    £   
Final 74,818 88,974

7. CONSIGNMENT STOCK

The sum of £1,007,044 (2023 - £413,606) in respect of stock held on consignment from the Company's principal suppliers is included in stock on hand. A corresponding sum is included in trade creditors in respect of this item.

8. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 May 2023 889,389 344,062 13,064 1,246,515
Additions - 27,887 4,085 31,972
At 30 April 2024 889,389 371,949 17,149 1,278,487
DEPRECIATION
At 1 May 2023 528,771 214,116 8,878 751,765
Charge for year 36,060 32,882 2,873 71,815
At 30 April 2024 564,831 246,998 11,751 823,580
NET BOOK VALUE
At 30 April 2024 324,558 124,951 5,398 454,907
At 30 April 2023 360,618 129,946 4,186 494,750

9. STOCKS
30.4.24 30.4.23
£    £   
Stock of goods for resale 3,337,330 2,913,334

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 275,509 421,991
Other debtors 175 646
Prepayments 93,453 107,966
369,137 530,603

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other loans (see note 12) 1,308,471 1,059,651
Trade creditors 2,194,358 2,319,149
Corporation tax 6,063 19,545
Social security and other taxes 160,157 127,578
Other creditors 56,182 62,278
Directors' loan accounts 19,444 24,444
Accrued expenses 39,300 74,384
3,783,975 3,687,029

12. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Trade loan agreements 1,308,471 1,059,651

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Between one and five years 236,000 99,960
In more than five years - 136,040
236,000 236,000

T J Vickers & Sons Limited (Registered number: 01636071)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

14. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Consignment stock 1,007,044 413,606
Used car stock 1,308,471 1,059,651
2,315,515 1,473,257

The bank overdraft is secured under the terms of the bank's standard debenture form and a charge over individual life policies taken out by the directors.. Title to vehicles held as consignment stock does not pass until the sale of the relevant vehicle.

15. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 47,477 27,078

Deferred
tax
£   
Balance at 1 May 2023 27,078
Provided during year 20,399
Balance at 30 April 2024 47,477

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
32 Ordinary £1 32 32

17. ULTIMATE CONTROLLING PARTY

The controlling party is Mr I F Vickers.