Local V/Dubs Limited 04603496 false 2024-12-01 2025-11-30 2025-11-30 The principal activity of the company is the maintenance and repair of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true true 04603496 2024-12-01 2025-11-30 04603496 2025-11-30 04603496 core:CurrentFinancialInstruments 2025-11-30 04603496 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 04603496 core:Goodwill 2025-11-30 04603496 core:PlantMachinery 2025-11-30 04603496 1 2025-11-30 04603496 bus:SmallEntities 2024-12-01 2025-11-30 04603496 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 04603496 bus:FilletedAccounts 2024-12-01 2025-11-30 04603496 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 04603496 bus:RegisteredOffice 2024-12-01 2025-11-30 04603496 bus:Director1 2024-12-01 2025-11-30 04603496 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 04603496 core:Goodwill 2024-12-01 2025-11-30 04603496 core:PlantMachinery 2024-12-01 2025-11-30 04603496 countries:England 2024-12-01 2025-11-30 04603496 1 2024-12-01 2025-11-30 04603496 2024-11-30 04603496 core:Goodwill 2024-11-30 04603496 core:PlantMachinery 2024-11-30 04603496 1 2024-11-30 04603496 2023-12-01 2024-11-30 04603496 2024-11-30 04603496 core:CurrentFinancialInstruments 2024-11-30 04603496 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 04603496 core:PlantMachinery 2024-11-30 04603496 1 2024-11-30 04603496 1 2023-12-01 2024-11-30 04603496 1 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 04603496

Local V/Dubs Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 November 2025

Local V/Dubs Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 6

Local V/Dubs Limited

(Registration number: 04603496)
Statement of Financial Position as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 4,694 | 5,244
Current assets |  |  |
Stocks |  | 1,787 | 2,149
Debtors | 6 | 2,177 | 2,319
Cash at bank and in hand |  | 16,976 | 14,014
|  | 20,940 | 18,482
Creditors: Amounts falling due within one year | 7 | (7,102) | (7,405)
Net current assets |  | 13,838 | 11,077
Total assets less current liabilities |  | 18,532 | 16,321
Provisions for liabilities |  | (892) | (1,311)
Net assets |  | 17,640 | 15,010
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Profit and loss account |  | 17,590 | 14,960
Shareholders' funds |  | 17,640 | 15,010

For the financial year ending 30 November 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 8 February 2026

Mr R Lampkin Director

Local V/Dubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is the maintenance and repair of motor vehicles.

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Local V/Dubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2 | Accounting policies (continued)

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Asset class | Amortisation method and rate
Goodwill | 10 years

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance

Impairment

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.

Local V/Dubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2 | Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Local V/Dubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 December 2024 | 3,000 | 3,000
At 30 November 2025 | 3,000 | 3,000
Amortisation
At 1 December 2024 | 3,000 | 3,000
At 30 November 2025 | 3,000 | 3,000
Carrying amount
At 30 November 2025 | - | -

5 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 December 2024 | 15,345 | 15,345
Additions | 279 | 279
At 30 November 2025 | 15,624 | 15,624
Depreciation
At 1 December 2024 | 10,101 | 10,101
Charge for the year | 829 | 829
At 30 November 2025 | 10,930 | 10,930
Carrying amount
At 30 November 2025 | 4,694 | 4,694
At 30 November 2024 | 5,244 | 5,244

Local V/Dubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

6 | Debtors

| 2025 £ | 2024 £
Other debtors | - | 240
Prepayments | 2,177 | 2,079
| 2,177 | 2,319

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 4,612 | 4,772
Accruals and deferred income | 1,285 | 1,435
Other creditors | 1,205 | 1,198
| 7,102 | 7,405

8 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

9 | Directors advances, credits and guarantees

2025 | Balance brought forward £ | Advances to director £ | Amounts repaid £ | Balance o/standing £
| (1,198) | 51 | (58) | (1,205)

2024 | Balance brought forward £ | Advances to director £ | Amounts repaid £ | Balance o/standing £
| (716) | 234 | (716) | (1,198)