ACCOUNTS - Final Accounts preparation

Company registration number: 12292158

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	SOLENT COMMERCIAL VEHICLE SERVICES LIMITED


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED

COMPANY INFORMATION

Directors	G L Heller
	J R Whitbread


Registered number	12292158


Registered office	Unit 4 Cockerell Close
	Segensworth
	Fareham
	Hampshire
	PO15 5SR


Accountants	Menzies LLP
	Chartered Accountants
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED REGISTERED NUMBER:12292158

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		1,306,510		1,306,510
			1,306,510		1,306,510
Current assets
Cash at bank and in hand		100,924		132,787
		100,924		132,787
Creditors: amounts falling due within one year	5	(1,167,267)		(963,586)
Net current liabilities			(1,066,343)		(830,799)
Total assets less current liabilities			240,167		475,711
Creditors: amounts falling due after more than one year	6		-		(235,385)

Net assets			240,167		240,326

Page 1


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED REGISTERED NUMBER:12292158

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

		2025		2024
		£		£

Capital and reserves
Called up share capital	100	100
Profit and loss account	240,067	240,226
	240,167	240,326

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J R Whitbread

Director

Date: 26 November 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Solent Commercial Vehicle Services Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	1,306,510
	At 31 March 2025	1,306,510

Page 4


SOLENT COMMERCIAL VEHICLE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	1,162,890	823,125
Corporation tax	2,377	22,718
Other creditors	-	115,743
Accruals and deferred income	2,000	2,000
	1,167,267	963,586

6.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other creditors	-	235,385
	-	235,385

7.	Related party transactions
	Included within the creditors due within one year are amounted owed to the directors amounting to £Nil (2024: £19,743). This loan is undated and interest free.

Page 5