Trade Vans UK Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04310414

Trade Vans UK Ltd

Filleted Unaudited Financial Statements

31 March 2025

Trade Vans UK Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		8,046	13,055

Current assets

Stocks	7	1,031,697	597,662
Debtors	8	527,997	911,121
Cash at bank and in hand		81,561	101,706
		------------	------------
		1,641,255	1,610,489

Creditors: amounts falling due within one year	9	286,199		196,592
		------------		------------
Net current assets			1,355,056	1,413,897
			------------	------------
Total assets less current liabilities			1,363,102	1,426,952

Creditors: amounts falling due after more than one year	10		46,671	122,505

Provisions

Other provisions	11	537	959
		------------	------------
Net assets		1,315,894	1,303,488
		------------	------------

Capital and reserves

Called up share capital	14	100	100
Profit and loss account		1,315,794	1,303,388
		------------	------------
Shareholders funds		1,315,894	1,303,488
		------------	------------

These 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 31st March 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 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 financial statements .

Trade Vans UK Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 14 December 2025 , and are signed on behalf of the board by:

Mr G J Joyce	Mr G M Joyce
Director	Director

Company registration number: 04310414

Trade Vans UK Ltd

Notes to the Financial Statements

Year ended 31st March 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 Sabre House, Midgham, Reading, Berkshire, RG7 5UU.

2. Statement of compliance

These 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

Basis of preparation

The 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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and Machinery	-	20% straight line
Motor Vehicles	-	33% straight line

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are stated at the lower of invoiced cost and net realisable value on an individual asset basis. Cost includes all direct expenditure in bring the stock to its present condition and location. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Where necessary, provisions are made for impairments arising from obsolete, slow moving and defective stocks.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 7 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	3,726	15,367

Deferred tax:

Origination and reversal of timing differences	( 461)	( 2,190)
	-------	--------
Tax on profit	3,265	13,177
	-------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 19 % (2024: 23.62 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	15,671	55,045
	--------	--------
Profit on ordinary activities by rate of tax	2,978	13,001
Effect of different UK tax rates on some earnings	287	176
	--------	--------
Tax on profit	3,265	13,177
	--------	--------

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1st April 2024 and 31st March 2025	13,708	20,500	34,208
	--------	--------	--------
Depreciation
At 1st April 2024	12,611	8,542	21,153
Charge for the year	909	4,100	5,009
	--------	--------	--------
At 31st March 2025	13,520	12,642	26,162
	--------	--------	--------
Carrying amount
At 31st March 2025	188	7,858	8,046
	--------	--------	--------
At 31st March 2024	1,097	11,958	13,055
	--------	--------	--------

7. Stocks

	2025	2024
	£	£
Vehicle stock for resale	1,025,859	593,358
Parts and consumables	5,838	4,304
	------------	---------
	1,031,697	597,662
	------------	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	24,403	7,132
Other debtors	503,594	903,989
	---------	---------
	527,997	911,121
	---------	---------

Other Debtors relate to short-term advances to related parties £500,000(2024 £900,000). Interest is charged on the loan at 3% over bank base rate.

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	46,662	46,662
Trade creditors	172,735	92,081
Corporation tax	3,726	15,367
Social security and other taxes	52,542	31,897
Other creditors	10,534	10,585
	---------	---------
	286,199	196,592
	---------	---------

Bank borrowing of £46,662(2024-£46,662) is secured on the company assets.

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

	2025	2024
	£	£
Bank loans and overdrafts	46,671	122,505
	--------	---------

The Bank loan is for the duration of 6 years from 28th July 2020 at a variable rate of interest over bank base rate of 2.22%. The loan is repayable by 60 monthly instalments from August 2021. The loan is secured by way of a debenture over the company assets.

11. Provisions

	Warranties
	£
At 1st April 2024	959
Charge against provision	( 422)
	----
At 31st March 2025	537
	----

Warranty provision is based on claims history and is considered sufficient to meet any claims which may arise in the future.

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in debtors (note 8)	1,655	1,194
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,655	1,194
	-------	-------

13. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	524,404	909,927
	---------	---------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	183,270	102,666
	---------	---------

Financial liabilities measured at amortised cost

Financial liabilities measured at amortised cost	93,333	169,167
	--------	---------

14. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

15. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	187,500	187,500
	---------	---------

16. Directors' advances, credits and guarantees

No dividend was declared for the year (2024 £NIL).

17. Related party transactions

The company is under the control of the directors who own the majority of the shares in the company. The following transactions took place at market value between the related entities The Anchor Pension Plan The company occupies premises owned by the Anchor Pension Plan. The rent paid by the company was £187,500(2024 - £198,875). The rent review was determined by comparable rents paid for similar properties. Anchor Vans Limited

	2025	2024
	£	£
Sales	51,786	79,812
Purchases	601,583	793,862

In addition, Anchor Vans Limited charged the company £19,911(2024 £37,443) for the provision of technical,marketing, website,accounting and management services. The net amount owed to Anchor Vans Ltd at the year end was £84,743(2024 £40,449). The loan due from Anchor Vans Limited at year end was £500,000 (2024 £900,000). The amount is shown under Debtors. The interest charged for this facility was 3% over bank base rate. Trade Vans UK Ltd received interest of £51,315(2024 - £79,669) in the year ended 31st March 2025. Anchor Cars Limited The company is jointly controlled by the directors Mr G M Joyce and Mr S Joyce.

	2025	2024
	£	£
Sales	–	77,846
Purchases	7,177	47,622

The trade amount due to Anchor Cars Ltd at the year end was £812(2024 £6,500). /