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Registered number: 08357046
RoadVacs Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Chancellers LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08357046
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 447,898 373,907
447,898 373,907
CURRENT ASSETS
Stocks 5 752,511 1,870,745
Debtors 6 661,810 1,499,606
Cash at bank and in hand 1,801,129 1,396,298
3,215,450 4,766,649
Creditors: Amounts Falling Due Within One Year 7 (656,369 ) (3,070,614 )
NET CURRENT ASSETS (LIABILITIES) 2,559,081 1,696,035
TOTAL ASSETS LESS CURRENT LIABILITIES 3,006,979 2,069,942
Creditors: Amounts Falling Due After More Than One Year 8 (110,625 ) (68,865 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (58,180 ) (38,537 )
NET ASSETS 2,838,174 1,962,540
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 2,837,974 1,962,340
SHAREHOLDERS' FUNDS 2,838,174 1,962,540
Page 1
Page 2
For the year ending 31 January 2025 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.
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
Mr G P Campbell
Director
Mr D Kearney
Director
10th June 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
RoadVacs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08357046 . The registered office is 64 Wilbury Way, Hitchin, Hertfordshire, SG4 0TP.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Freehold 2% on Cost
Plant & Machinery 20% Red Bal
Motor Vehicles 25% Red Bal
Fixtures & Fittings 33% Red Bal
Computer Equipment 33% Red Bal
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 8)
8 8
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 228,948 71,848 172,253 16,561
Additions - 27,993 184,969 1,556
Disposals - (23,519 ) (102,796 ) -
As at 31 January 2025 228,948 76,322 254,426 18,117
Depreciation
As at 1 February 2024 9,185 25,439 86,201 8,177
Provided during the period 4,579 11,508 58,495 3,785
Disposals - (6,653 ) (60,074 ) -
As at 31 January 2025 13,764 30,294 84,622 11,962
Net Book Value
As at 31 January 2025 215,184 46,028 169,804 6,155
As at 1 February 2024 219,763 46,409 86,052 8,384
Computer Equipment Total
£ £
Cost
As at 1 February 2024 38,725 528,335
Additions 4,770 219,288
Disposals - (126,315 )
As at 31 January 2025 43,495 621,308
Depreciation
As at 1 February 2024 25,426 154,428
Provided during the period 7,342 85,709
Disposals - (66,727 )
As at 31 January 2025 32,768 173,410
Net Book Value
As at 31 January 2025 10,727 447,898
As at 1 February 2024 13,299 373,907
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5. Stocks
2025 2024
£ £
Stock 752,511 1,870,745
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 620,683 1,459,126
Prepayments and accrued income 26,541 20,227
Other debtors 14,586 20,253
661,810 1,499,606
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 41,102 27,432
Trade creditors 75,485 1,009,476
Other loans 33,187 74,512
Corporation tax 283,614 230,940
Other taxes and social security 10,763 9,467
VAT 193,674 606,491
Other creditors 7,594 1,087,623
Accruals and deferred income 9,330 24,093
Directors' loan accounts 1,620 580
656,369 3,070,614
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 110,625 41,886
Other loans - 26,979
110,625 68,865
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 50,135 31,646
Later than one year and not later than five years 134,604 49,208
184,739 80,854
Less: Finance charges allocated to future periods 33,012 11,536
151,727 69,318
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
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