ACCOUNTS - Final Accounts preparation

Registered number: 12471495

COMMERCIAL VEHICLE ELECTRONICS LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

COMMERCIAL VEHICLE ELECTRONICS LTD

REGISTERED NUMBER: 12471495

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		65,896		85,920
Current assets
Stocks		116,992		69,508
Debtors: amounts falling due within one year	5	184,772		172,992
Cash at bank and in hand		297,487		199,953
		599,251		442,453
Creditors: amounts falling due within one year	6	(407,860)		(258,646)
Net current assets			191,391		183,807
Total assets less current liabilities			257,287		269,727
Creditors: amounts falling due after more than one year	7		(7,319)		(9,523)
Provisions for liabilities
Deferred tax			(16,474)		(21,480)
Net assets			233,494		238,724

Capital and reserves
Called up share capital	200	200
Profit and loss account	233,294	238,524
	233,494	238,724

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COMMERCIAL VEHICLE ELECTRONICS LTD

REGISTERED NUMBER: 12471495

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 October 2026.

D B Vickery

Director

The notes on pages 3 to 8 form part of these financial statements.

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Commercial Vehicle Electronics Ltd is a private Company limited by shares, incorporated in England and Wales (registered number: 12471495). Its registered office is Unit 1 Mcgregors Way, Turnoaks Business Park, Chesterfield S40 2WB. The principal activity of the Company throughout the year continued to be that maintenance and repair of motor vehicles.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery

25%

Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 22 (2025 - 23)

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 April 2025	176,109
	Additions	1,595
	At 31 March 2026	177,704
	Depreciation
	At 1 April 2025	90,189
	Charge for the year on owned assets	21,619
	At 31 March 2026	111,808
	Net book value
	At 31 March 2026	65,896
	At 31 March 2025	85,920

Debtors

					2026	2025
					£	£


Trade debtors	170,121	153,785
Prepayments	14,651	19,207
	184,772	172,992

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

6.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	2,479	2,479
Trade creditors	50,386	49,039
Corporation tax	172,090	81,868
Other taxation and social security	135,472	113,482
Other creditors	43,879	9,473
Accruals	3,554	2,305
	407,860	258,646

7.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

	Bank loans	7,319	9,523

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COMMERCIAL VEHICLE ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	Deferred taxation

		2026
		£

	At beginning of year	21,480
	Charged to profit or loss	(5,006)
	At end of year	16,474

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	16,474	21,480
		16,474	21,480

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,395 (2025: £10,847). Contributions totalling £NIL (2025: £1,216) were payable to the fund at the Balance Sheet date.

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