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REGISTERED NUMBER: 08530248 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31st July 2024

for

CVM (Preston) Ltd

CVM (Preston) Ltd (Registered number: 08530248)

Contents of the Financial Statements
for the Year Ended 31st July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CVM (Preston) Ltd

Company Information
for the Year Ended 31st July 2024







DIRECTORS: Mr SR Stafford
Mr SA Clayton





SECRETARY: Mrs SE Stafford





REGISTERED OFFICE: C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ





REGISTERED NUMBER: 08530248 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

CVM (Preston) Ltd (Registered number: 08530248)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,158 47,897

CURRENT ASSETS
Stocks 6,500 5,810
Debtors 5 40,802 50,901
Cash at bank and in hand 272,170 253,287
319,472 309,998
CREDITORS
Amounts falling due within one year 6 254,440 254,212
NET CURRENT ASSETS 65,032 55,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,190

103,683

PROVISIONS FOR LIABILITIES 15,040 11,974
NET ASSETS 110,150 91,709

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 109,950 91,509
SHAREHOLDERS' FUNDS 110,150 91,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th November 2024 and were signed on its behalf by:




Mr SR Stafford - Director



Mr SA Clayton - Director


CVM (Preston) Ltd (Registered number: 08530248)

Notes to the Financial Statements
for the Year Ended 31st July 2024


1. STATUTORY INFORMATION

CVM (Preston) Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the maintenance and repairs of motor vehicles, net of discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on reducing balance and 15% 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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

CVM (Preston) Ltd (Registered number: 08530248)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023 85,697
Additions 27,000
Disposals (15,500 )
At 31st July 2024 97,197
DEPRECIATION
At 1st August 2023 37,800
Charge for year 10,723
Eliminated on disposal (11,484 )
At 31st July 2024 37,039
NET BOOK VALUE
At 31st July 2024 60,158
At 31st July 2023 47,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,336 27,939
Other debtors 23,466 22,962
40,802 50,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,397 37,018
Taxation and social security 50,488 31,517
Other creditors 172,555 185,677
254,440 254,212

7. RELATED PARTY DISCLOSURES

At the year end, the company owed £169,910, (2023: £183,112) to the directors. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.