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COMPANY REGISTRATION NUMBER: 09403029
Lopham Vehicle Services Ltd
Unaudited financial statements
30 November 2024
Lopham Vehicle Services Ltd
Statement of financial position
30 November 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
114,865
106,141
Current assets
Stocks
17,660
12,740
Debtors
6
161,671
152,342
Cash at bank and in hand
20,989
22,852
---------
---------
200,320
187,934
Creditors: Amounts falling due within one year
7
( 148,838)
( 148,226)
---------
---------
Net current assets
51,482
39,708
---------
---------
Total assets less current liabilities
166,347
145,849
Provisions
Taxation including deferred tax
( 26,864)
( 24,489)
---------
---------
Net assets
139,483
121,360
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
139,383
121,260
---------
---------
Shareholders funds
139,483
121,360
---------
---------
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 income statement has not been delivered.
For the year ending 30 November 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 .
Lopham Vehicle Services Ltd
Statement of financial position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
A C Taber
Director
Company registration number: 09403029
Lopham Vehicle Services Ltd
Notes to the financial statements
Year ended 30 November 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 Poplar Farm High Common Road, North Lopham, Diss, England, IP22 2HP.
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.
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.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Long leasehold property
-
10% straight line
Plant and machinery
-
10% reducing balance
Motor vehicles
-
20% reducing balance
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 stock to its present location and condition.
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.
4. Employee numbers
The average number of employees during the year was 6 (2023: 6 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
47,122
94,767
25,624
167,513
Additions
2,396
31,387
33,783
Disposals
( 20,000)
( 20,000)
-------
-------
-------
---------
At 30 November 2024
47,122
97,163
37,011
181,296
-------
-------
-------
---------
Depreciation
At 1 December 2023
12,378
38,595
10,399
61,372
Charge for the year
3,476
5,722
1,995
11,193
Disposals
( 6,134)
( 6,134)
-------
-------
-------
---------
At 30 November 2024
15,854
44,317
6,260
66,431
-------
-------
-------
---------
Carrying amount
At 30 November 2024
31,268
52,846
30,751
114,865
-------
-------
-------
---------
At 30 November 2023
34,744
56,172
15,225
106,141
-------
-------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
6,137
8,351
Amounts owed by group undertakings and undertakings in which the company has a participating interest
151,523
139,787
Other debtors
4,011
4,204
---------
---------
161,671
152,342
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
18,847
17,110
Amounts owed to group undertakings and undertakings in which the company has a participating interest
117,367
112,367
Social security and other taxes
10,333
14,700
Other creditors
2,291
4,049
---------
---------
148,838
148,226
---------
---------
8. Contingencies
An unlimited cross guarantee has been given by this company, L.R. Wyard-Scott Limited and Taber Holdings Limited. The potential liability amounts to £489,308.