Company Registration No. 08760579 (England and Wales)
ISUZU SPECIALIST VEHICLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023
31 March 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ISUZU SPECIALIST VEHICLES LIMITED
COMPANY INFORMATION
Directors
Mr John McGauley
Ms Lindsay Cassell
Company number
08760579
Registered office
C/O PM+M, Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
England
BB1 5QB
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ISUZU SPECIALIST VEHICLES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ISUZU SPECIALIST VEHICLES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
42,018
53,778
Cash at bank and in hand
624
157
42,642
53,935
Creditors: amounts falling due within one year
5
(23,218)
(22,713)
Net current assets
19,424
31,222
Creditors: amounts falling due after more than one year
6
(25,816)
(35,421)
Net liabilities
(6,392)
(4,199)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(6,492)
(4,299)
Total equity
(6,392)
(4,199)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 November 2023 and are signed on its behalf by:
Mr John McGauley
Director
Company registration number 08760579 (England and Wales)
ISUZU SPECIALIST VEHICLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Isuzu Specialist Vehicles Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O PM+M, Greenbank Technology Park, Challenge Way, Blackburn, Lancashire, England, BB1 5QB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
ISUZU SPECIALIST VEHICLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
42,018
53,778
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,644
10,644
Taxation and social security
12,574
12,069
23,218
22,713
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
25,816
35,421