Company No: 03236264 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

P R Webb

SECRETARY

P R Webb

REGISTERED OFFICE	5 Deacon Way
	Tilehurst
	Reading
	RG30 6AZ
	United Kingdom

COMPANY NUMBER

03236264 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	141,193		163,073
		141,193		163,073
Current assets
Stocks		26,401		25,013
Debtors	5	238,006		232,009
Cash at bank and in hand		192,471		121,433
		456,878		378,455
Creditors: amounts falling due within one year	6	( 161,006)		( 150,508)
Net current assets		295,872		227,947
Total assets less current liabilities		437,065		391,020
Creditors: amounts falling due after more than one year	7	( 175,000)		( 175,000)
Provision for liabilities	8	( 23,915)		( 19,659)
Net assets		238,150		196,361
Capital and reserves
Called-up share capital	9	210,000		210,000
Profit and loss account		28,150		( 13,639 )
Total shareholder's funds		238,150		196,361

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Universal Commercial Vehicles Limited (registered number: 03236264) were approved and authorised for issue by the Director on 08 December 2025. They were signed on its behalf by:

P R Webb Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Universal Commercial Vehicles Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Deacon Way, Tilehurst, Reading, RG30 6AZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	15 years straight line
	25 % reducing balance
Plant and machinery	20 % reducing balance
Vehicles	4 years straight line
Computer equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	12		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost/Valuation
At 01 April 2024	44,103		44,103
At 31 March 2025	44,103		44,103
Accumulated amortisation
At 01 April 2024	44,103		44,103
At 31 March 2025	44,103		44,103
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	152,620		65,542		164,745		12,301		395,208
Additions	0		26,750		0		3,024		29,774
At 31 March 2025	152,620		92,292		164,745		15,325		424,982
Accumulated depreciation
At 01 April 2024	106,339		32,541		86,897		6,358		232,135
Charge for the financial year	6,102		6,871		36,107		2,574		51,654
At 31 March 2025	112,441		39,412		123,004		8,932		283,789
Net book value
At 31 March 2025	40,179		52,880		41,741		6,393		141,193
At 31 March 2024	46,281		33,001		77,848		5,943		163,073

5. Debtors

	2025		2024
	£		£
Trade debtors	191,651		186,684
Other debtors	46,355		45,325
	238,006		232,009

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	25,069		33,496
Taxation and social security	67,906		57,478
Other creditors	68,031		59,534
	161,006		150,508

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	175,000		175,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 19,659)		64
Charged to the Profit and Loss Account	( 4,256)		( 19,723)
At the end of financial year	( 23,915)		( 19,659)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
210,000 Ordinary Shares shares of £ 1.00 each	210,000		210,000

10. Off Balance Sheet arrangements

At the reporting date, the company had outstanding commitments for the future minimum lease payments under non-cancellable operating leases of £861,900 (2024: £994,500)