Company registration number 02023025 (England and Wales)
Vehicle Bodycare Centre Limited
financial statements
for the year ended 31 October 2024
PAGES FOR FILING WITH REGISTRAR
Vehicle Bodycare Centre Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Vehicle Bodycare Centre Limited
Statement Of Financial Position
as at 31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,970,614
2,318,484
Current assets
Stocks
44,165
46,947
Debtors
4
2,285,508
1,448,575
Cash at bank and in hand
197,984
481,256
2,527,657
1,976,778
Creditors: amounts falling due within one year
5
(2,317,957)
(1,106,922)
Net current assets
209,700
869,856
Total assets less current liabilities
3,180,314
3,188,340
Provisions for liabilities
6
(92,716)
(112,996)
Net assets
3,087,598
3,075,344
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
3,087,498
3,075,244
Total equity
3,087,598
3,075,344
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mr G Boyes
Director
Company Registration No. 02023025
Vehicle Bodycare Centre Limited
Notes to the financial statements
for the year ended 31 October 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Long leasehold
2% on cost
Plant and machinery
25% on reducing balance
Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Cost is calculated using the first-in first-out method and includes all purchase, transport and handling costs in bringing work in progress to their present location and condition.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Vehicle Bodycare Centre Limited
Notes to the financial statements (continued)
for the year ended 31 October 2024
1
Accounting policies
(continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
27
27
3
Tangible fixed assets
Long leasehold
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 November 2023
1,238,171
1,846,751
237,056
30,140
1,330,307
4,682,425
Additions
605,746
33,853
27,490
29,114
1,063,255
1,759,458
Disposals
(886,447)
(886,447)
At 31 October 2024
1,843,917
1,880,604
264,546
59,254
1,507,115
5,555,436
Depreciation and impairment
At 1 November 2023
359,814
1,595,644
68,894
27,049
312,540
2,363,941
Depreciation charged in the year
23,774
69,220
25,569
5,659
295,732
419,954
Eliminated in respect of disposals
(199,073)
(199,073)
At 31 October 2024
383,588
1,664,864
94,463
32,708
409,199
2,584,822
Carrying amount
At 31 October 2024
1,460,329
215,740
170,083
26,546
1,097,916
2,970,614
At 31 October 2023
878,357
251,108
168,162
3,090
1,017,767
2,318,484
Vehicle Bodycare Centre Limited
Notes to the financial statements (continued)
for the year ended 31 October 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
830,606
775,513
Other debtors
1,454,902
673,062
2,285,508
1,448,575
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
353,329
351,434
Amounts owed to group undertakings
1,284,826
107,669
Corporation tax
431,313
267,787
Other taxation and social security
187,197
159,460
Other creditors
61,292
220,572
2,317,957
1,106,922
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
92,716
112,996
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
James Bell
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
28 May 2025
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
8,375
25,125
Vehicle Bodycare Centre Limited
Notes to the financial statements (continued)
for the year ended 31 October 2024
- 5 -
9
Parent company
The company's ultimate parent undertaking is Vehicle Bodycare Centre Holdings Limited, which is registered in England and Wales, its registered office is Knowsthorpe Road, Cross Green Industrial Estate, Leeds, West Yorkshire, LS9 0NX.
The directors are considered to be the ultimate controlling party.
10
Company information
Vehicle Bodycare Centre Limited is a private company limited by shares incorporated in England and Wales. The registered office is Knowsthorpe Road, Cross Green Industrial Estate, Leeds, West Yorkshire, LS9 0NX.