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COMPANY REGISTRATION NUMBER: 08754781
Kent Vehicle Solutions Limited
Filleted Unaudited Financial Statements
31 December 2024
Kent Vehicle Solutions Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Kent Vehicle Solutions Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
265,930
265,930
Current assets
Debtors
6
14,000
Cash at bank and in hand
7,183
25,610
--------
--------
21,183
25,610
Creditors: amounts falling due within one year
7
21,933
24,213
--------
--------
Net current (liabilities)/assets
( 750)
1,397
---------
---------
Total assets less current liabilities
265,180
267,327
---------
---------
Net assets
265,180
267,327
---------
---------
Capital and reserves
Called up share capital
2
2
Capital redemption reserve
2
2
Profit and loss account
265,176
267,323
---------
---------
Shareholders funds
265,180
267,327
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 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 .
Kent Vehicle Solutions Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 11 April 2025 , and are signed on behalf of the board by:
Mr P S Anderson
Director
Company registration number: 08754781
Kent Vehicle Solutions Limited
Notes to the Financial Statements
Year ended 31 December 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 80 Chatfield Way, East Malling, West Malling, Kent, ME19 6UE, England.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
265,930
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
265,930
---------
At 31 December 2023
265,930
---------
6. Debtors
2024
2023
£
£
Other debtors
14,000
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
15,641
17,259
Social security and other taxes
4,791
6,053
Other creditors
1,501
901
--------
--------
21,933
24,213
--------
--------
8. Related party transactions
At the year end the company was owed £14,000 (2023: £nil) by an associated company.