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VEHICLE CONTROL SOLUTIONS LIMITED

Registered Number
05315852
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

VEHICLE CONTROL SOLUTIONS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CONSTANTINO, Xavier
CONSTANTINOU, Costas

Registered Address

West Hill House 6 Swains Lane
Highgate
London
N6 6QU

Registered Number

05315852 (England and Wales)
VEHICLE CONTROL SOLUTIONS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets354,16361,887
54,16361,887
Current assets
Debtors349,893231,213
Cash at bank and on hand297,821307,179
647,714538,392
Creditors amounts falling due within one year4(56,768)(55,048)
Net current assets (liabilities)590,946483,344
Total assets less current liabilities645,109545,231
Provisions for liabilities5(10,291)(11,758)
Net assets634,818533,473
Capital and reserves
Called up share capital100100
Profit and loss account634,718533,373
Shareholders' funds634,818533,473
The financial statements were approved and authorised for issue by the Board of Directors on 3 February 2025, and are signed on its behalf by:
CONSTANTINOU, Costas
Director
Registered Company No. 05315852
VEHICLE CONTROL SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20242023
Average number of employees during the year45
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 June 23111,5835,01062,846179,439
Additions3,100-2,7175,817
At 31 May 24114,6835,01065,563185,256
Depreciation and impairment
At 01 June 2383,9574,66628,929117,552
Charge for year6,145697,32713,541
At 31 May 2490,1024,73536,256131,093
Net book value
At 31 May 2424,58127529,30754,163
At 31 May 2327,62634433,91761,887
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,29313,331
Taxation and social security43,23241,623
Other creditors24394
Total56,76855,048
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)10,29111,758
Total10,29111,758
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
CONSTANTINOU, Costas154,254276,135154,254276,135
154,254276,135154,254276,135
This is included is included in other debtors and represents an overdrawn directors loan that has been repaid within 9 months after the financial year end.
7.Related party transactions
Constant Beauty Limited: a related company by directors and shareholders being associates. As at the balance sheet date an amount of £73,130 (2022: £73,130) remained due from the company which is included within debtors: amounts due within one year. The loan is interest free with no fixed date for repayment.