COMPANY REGISTRATION NUMBER:
02930804
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
31 January 2025
Fixed assets
|
Tangible assets |
4 |
|
96,308 |
296,517 |
|
|
|
|
|
Current assets
|
Debtors |
203,482 |
|
201,210 |
|
Cash at bank and in hand |
219,950 |
|
66,748 |
|
--------- |
|
--------- |
|
423,432 |
|
267,958 |
|
|
|
|
|
Creditors: amounts falling due within one year |
11,874 |
|
20,190 |
|
--------- |
|
--------- |
|
Net current assets |
|
411,558 |
247,768 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
507,866 |
544,285 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
– |
2,500 |
|
|
--------- |
--------- |
|
Net assets |
|
507,866 |
541,785 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
5,000 |
5,000 |
|
Profit and loss account |
|
502,866 |
536,785 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
507,866 |
541,785 |
|
|
--------- |
--------- |
|
|
|
|
These abridged 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 statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.
|
Abridged Statement of Financial Position (continued) |
|
31 January 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
27 October 2025
, and are signed on behalf of the board by:
Company registration number:
02930804
|
Notes to the Abridged Financial Statements |
|
Year ended 31 January 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Cottage, Shutmill Lane, Romsley, Worcestershire, B62 0LZ.
2.
Statement of compliance
These abridged 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
(a)
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of value added tax and trade discounts. All of the turnover in the year arises from hiring out the company's vehicles on operating leases. Turnover from these operating leases recognised in the profit and loss account on a straight line basis over the period of the lease subject to the element of the lease income that is to be matched against future maintenance costs. This income is recognised in deferred income and released in line with the maintenance costs of vehicles.
(c)
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. 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.
(d)
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.
(e)
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:
|
Motor Vehicles |
- |
25% in the 1st year, 15% in years 2-6 on a straight line basis |
|
|
|
|
(f)
Impairment of fixed assets
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.
(g)
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 February 2024 |
429,847 |
|
Additions |
53,750 |
|
Disposals |
(
337,667) |
|
--------- |
|
At 31 January 2025 |
145,930 |
|
--------- |
|
Depreciation |
|
|
At 1 February 2024 |
133,330 |
|
Charge for the year |
38,577 |
|
Disposals |
(
122,285) |
|
--------- |
|
At 31 January 2025 |
49,622 |
|
--------- |
|
Carrying amount |
|
|
At 31 January 2025 |
96,308 |
|
--------- |
|
At 31 January 2024 |
296,517 |
|
--------- |
|
|