Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 13602648 P Mathur iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13602648 2023-09-30 13602648 2024-09-30 13602648 2023-10-01 2024-09-30 13602648 frs-core:CurrentFinancialInstruments 2024-09-30 13602648 frs-core:ComputerEquipment 2023-10-01 2024-09-30 13602648 frs-core:PlantMachinery 2024-09-30 13602648 frs-core:PlantMachinery 2023-10-01 2024-09-30 13602648 frs-core:PlantMachinery 2023-09-30 13602648 frs-core:ShareCapital 2024-09-30 13602648 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 13602648 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13602648 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 13602648 frs-bus:SmallEntities 2023-10-01 2024-09-30 13602648 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 13602648 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13602648 frs-bus:Director1 2023-10-01 2024-09-30 13602648 frs-countries:EnglandWales 2023-10-01 2024-09-30 13602648 2022-09-30 13602648 2023-09-30 13602648 2022-10-01 2023-09-30 13602648 frs-core:CurrentFinancialInstruments 2023-09-30 13602648 frs-core:ShareCapital 2023-09-30 13602648 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 13602648
Vale Select Motors Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13602648
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,845 11,736
8,845 11,736
CURRENT ASSETS
Stocks 5 - 36,400
Debtors 6 230 -
Cash at bank and in hand - 3,281
230 39,681
Creditors: Amounts Falling Due Within One Year 7 (106,942 ) (133,377 )
NET CURRENT ASSETS (LIABILITIES) (106,712 ) (93,696 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,867 ) (81,960 )
NET LIABILITIES (97,867 ) (81,960 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (97,868 ) (81,961 )
SHAREHOLDERS' FUNDS (97,867) (81,960)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P Mathur
Director
05/06/2025
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Vale Select Motors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13602648 . The registered office is 21 Bullhead Road, Borehamwood, Hertfordshire, WD6 1HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Turnover
Turnover is recognised to the extent that the Company obtains the rights to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and sales taxes of duty. The following criteria must also be met before revenue is recognised.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of car services and repairs is recognised upon completion of the works and acceptance by the customer.
Commissions receivable for arranging vehicle financing and related insurance products are based on agreed rates and income is recognised concurrently with the related vehicle sale.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have beenincurred in bringing the stocks to their present location and condition as follows:
- Parts and Vehicles - purchase cost on a first-in, first-out basis.
Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 October 2023 18,277
As at 30 September 2024 18,277
Depreciation
As at 1 October 2023 6,541
Provided during the period 2,891
As at 30 September 2024 9,432
Net Book Value
As at 30 September 2024 8,845
As at 1 October 2023 11,736
5. Stocks
2024 2023
£ £
Finished goods - 36,400
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 230 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 27,860
Bank loans and overdrafts 790 -
Amounts owed to participating interests 5,000 5,000
Other creditors 101,152 98,923
Taxation and social security - 1,594
106,942 133,377
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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