3 01/01/2024 31/12/2024 2024-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 4621657 2024-01-01 2024-12-31 4621657 2024-12-31 4621657 2023-12-31 4621657 2023-01-01 2023-12-31 4621657 2023-12-31 4621657 2022-12-31 4621657 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 4621657 core:MotorVehicles 2024-01-01 2024-12-31 4621657 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 4621657 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 4621657 bus:Director1 2024-01-01 2024-12-31 4621657 core:WithinOneYear 2024-12-31 4621657 core:WithinOneYear 2023-12-31 4621657 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 4621657 core:FurnitureFittingsToolsEquipment 2023-12-31 4621657 core:MotorVehicles 2023-12-31 4621657 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 4621657 core:FurnitureFittingsToolsEquipment 2024-12-31 4621657 core:MotorVehicles 2024-12-31 4621657 core:ShareCapital 2024-12-31 4621657 core:ShareCapital 2023-12-31 4621657 core:RetainedEarningsAccumulatedLosses 2024-12-31 4621657 core:RetainedEarningsAccumulatedLosses 2023-12-31 4621657 bus:OrdinaryShareClass1 core:ShareCapital 2024-12-31 4621657 bus:OrdinaryShareClass1 core:ShareCapital 2023-12-31 4621657 bus:OrdinaryShareClass2 core:ShareCapital 2024-12-31 4621657 bus:OrdinaryShareClass2 core:ShareCapital 2023-12-31 4621657 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 4621657 core:FurnitureFittingsToolsEquipment 2023-12-31 4621657 core:MotorVehicles 2023-12-31 4621657 bus:SmallEntities 2024-01-01 2024-12-31 4621657 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 4621657 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 4621657 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 4621657 bus:FullAccounts 2024-01-01 2024-12-31
Company registration number: 4621657
All Vehicles Sales Limited
Unaudited filleted financial statements
31 December 2024
All Vehicles Sales Limited
Contents
Balance sheet
Notes to the financial statements
All Vehicles Sales Limited
Balance sheet
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 189,490 206,752
_________ _________
189,490 206,752
Current assets
Stocks 233,715 81,983
Debtors 6 332,962 625,819
Cash at bank and in hand 2,582,000 2,434,989
_________ _________
3,148,677 3,142,791
Creditors: amounts falling due
within one year 7 ( 187,550) ( 479,597)
_________ _________
Net current assets 2,961,127 2,663,194
_________ _________
Total assets less current liabilities 3,150,617 2,869,946
_________ _________
Net assets 3,150,617 2,869,946
_________ _________
Capital and reserves
Called up share capital 8 101 101
Profit and loss account 3,150,516 2,869,845
_________ _________
Shareholders funds 3,150,617 2,869,946
_________ _________
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.
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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 July 2025 , and are signed on behalf of the board by:
.....................................................
T.J. Leyshon
Director
Company registration number: 4621657
All Vehicles Sales 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 United Kingdom. The address of the registered office is Unit 3A, Rhymney River Bridge Road, Cardiff, CF23 9AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. 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.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. However, no provision has been made in these financial statements, as, in the opinion of the directors, the amounts involved are not material.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applying to the company are basic as defined in the Accounting Standard, and as such are initially recognised at the transaction price, unless specifically stated otherwise. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 100,000 26,809 106,143 232,952
Additions - 12,178 - 12,178
Disposals - ( 1,772) - ( 1,772)
_________ _________ _________ _________
At 31 December 2024 100,000 37,215 106,143 243,358
_________ _________ _________ _________
Depreciation
At 1 January 2024 - 18,589 7,611 26,200
Charge for the year - 3,739 24,632 28,371
Disposals - ( 703) - ( 703)
_________ _________ _________ _________
At 31 December 2024 - 21,625 32,243 53,868
_________ _________ _________ _________
Carrying amount
At 31 December 2024 100,000 15,590 73,900 189,490
_________ _________ _________ _________
At 31 December 2023 100,000 8,220 98,532 206,752
_________ _________ _________ _________
6. Debtors
2024 2023
£ £
Trade debtors 14,713 332,360
Other debtors 318,249 293,459
_________ _________
332,962 625,819
_________ _________
Included in other debtors is a loan in the sum of £200,000 due from a company controlled by the directors. (2021 - £200,000)
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 7,662 286,049
Accruals and deferred income 2,917 2,312
Social security and other taxes 163,363 176,115
Director loan accounts 10,681 11,984
Other creditors 2,927 3,137
_________ _________
187,550 479,597
_________ _________
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
A Ordinary shares of £ 1.00 each 1 1 1 1
_________ _________ _________ _________
101 101 101 101
_________ _________ _________ _________