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Registered number: 06557652
Approved Used Vehicles Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06557652
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,309 36,041
28,309 36,041
CURRENT ASSETS
Stocks 5 70,000 342,000
Debtors 6 237,137 9,087
Cash at bank and in hand 29,757 36,205
336,894 387,292
Creditors: Amounts Falling Due Within One Year 7 (217,540 ) (208,763 )
NET CURRENT ASSETS (LIABILITIES) 119,354 178,529
TOTAL ASSETS LESS CURRENT LIABILITIES 147,663 214,570
Creditors: Amounts Falling Due After More Than One Year 8 (2,500 ) (13,333 )
NET ASSETS 145,163 201,237
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 145,063 201,137
SHAREHOLDERS' FUNDS 145,163 201,237
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A J Fenwick
Director
4th December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Approved Used Vehicles Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06557652 . The registered office is Sovereign House, 12 Warwick Street, Coventry, CV5 6ET.
The presentation currency of the financial statements is the Pound Sterling (£).
The financial statements are rounded to the nearest £1.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.  This is usually on collection of the vehicle by the customer.
Turnover from commission is recognised in the Financial statements when the company obtains the rights to receive commissions on contracts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% on cost
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date.  If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount.  Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
The company uses a finance company who legally purchase the stock but transfer the risks and rewards of ownership to the company, which in substance gives the company control over the stock.  The company therefore recognises these 'consignment' stocks together with the equivalent liability.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Debtors and creditor receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 2)
3 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 4,000 4,000 56,000 7,321 71,321
Additions - - - 790 790
As at 31 March 2025 4,000 4,000 56,000 8,111 72,111
Depreciation
As at 1 April 2024 4,000 3,090 24,523 3,667 35,280
Provided during the period - 228 6,598 1,696 8,522
As at 31 March 2025 4,000 3,318 31,121 5,363 43,802
Net Book Value
As at 31 March 2025 - 682 24,879 2,748 28,309
As at 1 April 2024 - 910 31,477 3,654 36,041
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5. Stocks
2025 2024
£ £
Stock 107,500 387,500
Stock provision (37,500 ) (45,500 )
70,000 342,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 232,410 -
Prepayments and accrued income - 2,702
Other debtors 999 999
Director's loan account - 1,934
Amounts owed by group undertakings 3,728 3,452
237,137 9,087
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 559 915
Bank loans and overdrafts 10,000 10,000
PAYE 1,857 629
VAT 16,822 4,334
Net wages 4,228 4,734
Finance advances 181,650 178,000
Amex credit card - 6,091
Accruals and deferred income 2,060 2,060
Director's loan account 364 -
Payments on account - 2,000
217,540 208,763
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 2,500 13,333
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
80 Ordinary Shares of £ 1.00 each 80 80
20 Ordinary A shares of £ 1.00 each 20 20
100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Andrew Fenwick 1,934 - 1,934 - -
The above loan is unsecured, interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is AUV Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
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