CVM Cars Limited - Filleted accounts

Registered number

10656237

CVM Cars Limited

Unaudited Filleted Accounts

30 December 2024

CVM Cars Limited
Registered number:		10656237
Balance Sheet
as at 30 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		5,781,461			4,131,696

Current assets
Debtors	4	411,730			160,503
Cash at bank and in hand		42,716			20,625
		454,446			181,128

Creditors: amounts falling due within one year	5	(813,200)			(487,077)

Net current liabilities			(358,754)			(305,949)

Total assets less current liabilities			5,422,707			3,825,747

Creditors: amounts falling due after more than one year	6		(5,377,769)			(3,815,744)



Net assets			44,938			10,003

Capital and reserves
Called up share capital			3			3
Profit and loss account			44,935			10,000

Shareholder's funds			44,938			10,003

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Kevin Connor
Director
Approved by the board on 30 September 2025

CVM Cars Limited
Notes to the Accounts
for the year ended 30 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles	straight line depreciation to expected residual values over the length of the lease or hire purchase agreement

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		0		0


3	Tangible fixed assets
					Motor vehicles
£
	Cost
	At 31 December 2023				4,988,860
	Additions				2,744,426
	Disposals				(532,342)
	At 30 December 2024				7,200,944

	Depreciation
	At 31 December 2023				857,164
	Charge for the year				653,279
	On disposals				(90,960)
	At 30 December 2024				1,419,483

	Net book value
	At 30 December 2024				5,781,461
	At 30 December 2023				4,131,696


4	Debtors		2024		2023
£				£

	Trade debtors		13,901		45,648
	Amounts owed by group undertakings and undertakings in which the company has a participating interest		327,073		114,855
	Other debtors		70,756		-
			411,730		160,503


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Trade creditors		3,021		24
	Amounts owed to group undertakings and undertakings in which the company has a participating interest		807,679		334,175
	Taxation and social security costs		-		125,114
	Other creditors		2,500		27,764
			813,200		487,077


6	Creditors: amounts falling due after one year		2024		2023
£				£

	Obligations under finance lease and hire purchase contracts		5,377,769		3,815,744


7	Controlling party

	The parent company of CVM Cars Ltd is CVM Holdings Ltd and its registered address is Spectrum Building 1600 Parkway, Solent Business Park, Whiteley, Fareham, PO15 7AH.


8	Other information

	CVM Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Spectrum Building 1600 Parkway
	Solent Business Park
	Whiteley
	Fareham
	PO15 7AH