The Young Driver Training Limited |
Registered number: |
06979425 |
Director's Report |
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The director presents his report and accounts for the year ended 31 December 2023. |
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Principal activities |
The company's principal activity during the year continued to be the provision of driving experiences and associated activities to young people. Sustainability Young Driver is determined to lead the way on reducing its carbon footprint and teaching the next generation of drivers to drive more economically and to drive and choose cars to reduce their carbon footprints. Our sustainability planning is working to the UN sustainable development goals. In the short term we are offsetting our carbon emissions through tree and hedge planting. We use only forest friendly paper for all print, have implemented recycling at our office and at venues and have eliminated single use plastics from our operations. We are now moving on to evaluating the carbon footprint of our operations in order to better understand how to reduce and offset these with a target of being carbon neutral by 2025. |
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Directors |
The following person served as director during the year: |
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I M Mulingani |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 29 February 2024 and signed on its behalf. |
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I M Mulingani |
Director |
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The Young Driver Training Limited |
Accountants' Report |
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Accountants' report to the director of |
The Young Driver Training Limited |
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You consider that the company is exempt from an audit for the year ended 31 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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Accountancy Admin Ltd |
Accountants |
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Seren Y Mor |
Stad Gwastadgoed Isaf |
Llwyngwril |
Gwynedd |
LL37 2LA |
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29 February 2024 |
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The Young Driver Training Limited |
Registered number: |
06979425 |
Balance Sheet |
as at 31 December 2023 |
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Notes |
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2023 |
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2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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|
92,828 |
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125,628 |
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Current assets |
Stocks |
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49,439 |
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39,694 |
Debtors |
4 |
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508,555 |
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452,190 |
Cash at bank and in hand |
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1,041,117 |
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1,297,553 |
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1,599,111 |
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1,789,437 |
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Creditors: amounts falling due within one year |
5 |
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(1,543,689) |
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(1,827,159) |
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Net current assets/(liabilities) |
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55,422 |
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(37,722) |
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Total assets less current liabilities |
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148,250 |
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87,906 |
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Creditors: amounts falling due after more than one year |
6 |
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(14,897) |
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(24,196) |
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Net assets |
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133,353 |
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63,710 |
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Capital and reserves |
Called up share capital |
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100 |
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100 |
Share premium |
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59,989 |
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59,989 |
Profit and loss account |
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73,264 |
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3,621 |
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Shareholders' funds |
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133,353 |
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63,710 |
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The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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I M Mulingani |
Director |
Approved by the board on 29 February 2024 |
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The Young Driver Training Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Motor Vehicles |
over 5 years |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
12 |
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14 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
256,756 |
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282,388 |
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539,144 |
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Additions |
- |
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4,767 |
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4,767 |
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At 31 December 2023 |
256,756 |
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287,155 |
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543,911 |
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Depreciation |
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At 1 January 2023 |
240,014 |
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173,502 |
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413,516 |
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Charge for the year |
10,147 |
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27,420 |
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37,567 |
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At 31 December 2023 |
250,161 |
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200,922 |
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451,083 |
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Net book value |
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At 31 December 2023 |
6,595 |
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86,233 |
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92,828 |
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At 31 December 2022 |
16,742 |
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108,886 |
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125,628 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
35,271 |
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97,101 |
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Directors Loan (overdrawn) |
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- |
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1,799 |
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Prepayments |
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111,985 |
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110,364 |
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Associated Company Loans |
361,299 |
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242,926 |
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508,555 |
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452,190 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Bank loans and overdrafts (unsecured) |
10,000 |
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10,000 |
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Trade creditors |
262,016 |
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322,842 |
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Taxation and social security costs |
199,667 |
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232,956 |
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Accruals and deferred Income |
1,072,006 |
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1,261,361 |
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1,543,689 |
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1,827,159 |
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6 |
Creditors: amounts falling due after one year |
2023 |
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2022 |
£ |
£ |
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Bank loans (unsecured) |
14,897 |
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24,196 |
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7 |
Related party transactions |
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During the year the Company leased offices from Hendrix Twig Ltd totalling £30,000 and leased Electric vehicles from Young Driver Motor Cars Ltd and Young Driver Services Ltd totalling £60,000. Funds owed by Associated Companies total £361,299 (2022 £242,926). |
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8 |
Other information |
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The Young Driver Training Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Holly Grange |
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Holly Lane |
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Balsall Common |
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West Midlands |
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CV7 7EB |