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Company Registration No. 09189617 (England and Wales)
AGILE VEHICLE TECHNOLOGIES LIMITED Unaudited accounts for the year ended 31 December 2024
AGILE VEHICLE TECHNOLOGIES LIMITED Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Intangible assets
4
1,290,142
1,336,048
Tangible assets
5
9,996
-
1,300,138
1,336,048
Current assets
Inventories
20,836
109,465
Debtors
6
186,586
188,389
Cash at bank and in hand
189,330
26,085
396,752
323,939
Creditors: amounts falling due within one year
7
(3,795,598)
(3,823,207)
Net current liabilities
(3,398,846)
(3,499,268)
Net liabilities
(2,098,708)
(2,163,220)
Capital and reserves
Called up share capital
8
200
200
Profit and loss account
(2,098,908)
(2,163,420)
Shareholders' funds
(2,098,708)
(2,163,220)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by
Terence Stuart Sowray Director Company Registration No. 09189617
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AGILE VEHICLE TECHNOLOGIES LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
AGILE VEHICLE TECHNOLOGIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09189617. The registered office is 67 Erghum Lane, Devizes, Wiltshire, SN10 2GT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Intangible fixed assets
Development costs for specific projects are capitalised where it is expected that the projects will generate adequate future economic benefits and are amortised over the future periods expected to benefit from them. Other intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line basis
Motor vehicles
20% straight line basis
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AGILE VEHICLE TECHNOLOGIES LIMITED Notes to the Accounts for the year ended 31 December 2024
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investments
Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses are recognised immediately in the profit and loss account. Consolidated accounts have not been prepared as the company is a part of a small group.
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024
1,363,560
At 31 December 2024
1,363,560
Amortisation
At 1 January 2024
27,512
Charge for the year
45,906
At 31 December 2024
73,418
Net book value
At 31 December 2024
1,290,142
At 31 December 2023
1,336,048
Movements in intangible fixed assets comprise: Amortisation: Development costs - £ 42,624 Other intangible fixed assets - £ 3,282
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
5,062
4,700
7,806
17,568
Additions
-
12,495
-
12,495
At 31 December 2024
5,062
17,195
7,806
30,063
Depreciation
At 1 January 2024
5,062
4,700
7,806
17,568
Charge for the year
-
2,499
-
2,499
At 31 December 2024
5,062
7,199
7,806
20,067
Net book value
At 31 December 2024
-
9,996
-
9,996
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AGILE VEHICLE TECHNOLOGIES LIMITED Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
-
7,489
Trade debtors
53,514
50,626
Accrued income and prepayments
9,054
6,256
Other debtors
124,018
124,018
186,586
188,389
7
Creditors: amounts falling due within one year
2024
2023
£
£
VAT
7,794
-
Trade creditors
8,495
73,962
Amounts owed to group undertakings and other participating interests
3,679,104
3,679,104
Taxes and social security
2,835
752
Other creditors
16,678
9,597
Loans from directors
59,192
59,192
Accruals
1,500
600
Deferred income
20,000
-
3,795,598
3,823,207
8
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
9
Transactions with related parties
Amounts owed to group undertakings of £ 3,679,104 (2023 - 3,679,104) have been advanced from a company controlled by a director as interest free loans. Other debtors include £ 124,018 (2023 - £ 124,018) advanced to a company controlled by a director as interest free loans.
10
Controlling party
The company is controlled by Fascadale Limited, a company incorporated in Scotland with registered address of Mingary House, Kilchoan, Acharacle, Argyll, PH36 4LH.
11
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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