Company registration number 05477324 (England and Wales)
KVT GARAGES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KVT GARAGES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
KVT GARAGES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,775,000
1,775,000
Current assets
Debtors
4
15,475
15,475
Cash at bank and in hand
5,576
5,576
21,051
21,051
Creditors: amounts falling due within one year
5
(1,112,898)
(1,109,132)
Net current liabilities
(1,091,847)
(1,088,081)
Total assets less current liabilities
683,153
686,919
Capital and reserves
Called up share capital
100
100
Other reserve
458,558
458,558
Profit and loss reserves
224,495
228,261
Total equity
683,153
686,919

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 28 November 2025 and are signed on its behalf by:
V Thayaparan
Director
Company Registration No. 05477324
KVT GARAGES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Other reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
100
458,558
231,985
690,643
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
456,276
456,276
Dividends
-
-
(460,000)
(460,000)
Balance at 31 December 2023
100
458,558
228,261
686,919
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
271,234
271,234
Dividends
-
-
(275,000)
(275,000)
Balance at 31 December 2024
100
458,558
224,495
683,153
KVT GARAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

KVT Garages Limited is a private company limited by shares incorporated in England and Wales. The registered office is Norbury Hill Service Station, 78-80 Dunstable Road, Toddington, Dunstable, Bedfordshire, LU5 6DR, United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include revaluation of fixed asset investments. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company is a holding company whose subsidiary that it relies upon for support has continued to trade profitably during the year and following the year-end. Therefore, the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at a revalued amount.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

KVT GARAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities,including loans from fellow group companies are i nitially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.7
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8

Other reserve

The other reserve relates to an increase in the valuation of the shares in group undertakings.

2
Employees

There were no employees during the current year or the previous year.

3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,775,000
1,775,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
15,475
15,475
KVT GARAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,109,299
1,105,533
Other creditors
3,599
3,599
1,112,898
1,109,132
6
Events after the reporting date

Following the year end, a dividend of £122,000 was received from its subsidiary undertaking and an equivalent amount paid to the shareholders.

2024-12-31 2024-01-01 false false false 28 November 2025 CCH Software CCH Accounts Production 2024.310 No description of principal activity S Paheerathan V Paheerathan T Thayaparan V Thayaparan V Thayaparan 0 05477324 2024-01-01 2024-12-31 05477324 2024-12-31 05477324 2023-12-31 05477324 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05477324 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05477324 core:CurrentFinancialInstruments 2024-12-31 05477324 core:CurrentFinancialInstruments 2023-12-31 05477324 core:ShareCapital 2024-12-31 05477324 core:ShareCapital 2023-12-31 05477324 core:RevaluationReserve 2024-12-31 05477324 core:RevaluationReserve 2023-12-31 05477324 core:RetainedEarningsAccumulatedLosses 2024-12-31 05477324 core:RetainedEarningsAccumulatedLosses 2023-12-31 05477324 core:ShareCapital 2022-12-31 05477324 core:RevaluationReserve 2022-12-31 05477324 core:RetainedEarningsAccumulatedLosses 2022-12-31 05477324 2022-12-31 05477324 bus:Director4 2024-01-01 2024-12-31 05477324 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05477324 2023-01-01 2023-12-31 05477324 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05477324 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05477324 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05477324 bus:FRS102 2024-01-01 2024-12-31 05477324 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05477324 bus:Director1 2024-01-01 2024-12-31 05477324 bus:Director2 2024-01-01 2024-12-31 05477324 bus:Director3 2024-01-01 2024-12-31 05477324 bus:CompanySecretary1 2024-01-01 2024-12-31 05477324 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP