Registration number:
Whitby Specialist Vehicles Limited
for the Year Ended 31 December 2020
Whitby Specialist Vehicles Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Whitby Specialist Vehicles Limited
(Registration number: 01095664)
Balance Sheet as at 31 December 2020
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2019 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Whitby Specialist Vehicles Limited
(Registration number: 01095664)
Balance Sheet as at 31 December 2020
Approved and authorised by the
.........................................
Director
Whitby Specialist Vehicles Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Revenue recognition
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 sales/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.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Whitby Specialist Vehicles Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Tax
The tax expense for the period comprises current 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.
Tangible assets
Tangible assets are stated in the balance sheet 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 |
Improvement to property |
10% on cost |
Plant and machinery |
20% on cost |
Fixtures and fittings |
33% on cost |
Motor vehicles |
25% on cost |
Computer equipment |
33% on reducing balance |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Whitby Specialist Vehicles Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
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Cost or valuation |
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At 1 January 2020 |
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Additions |
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Disposals |
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At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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Eliminated on disposal |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Total |
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Cost or valuation |
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At 1 January 2020 |
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Additions |
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Disposals |
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At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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Eliminated on disposal |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Whitby Specialist Vehicles Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Investments |
2020 |
2019 |
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Investments in subsidiaries |
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Stocks |
2020 |
2019 |
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Work in progress |
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Other inventories |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Whitby Specialist Vehicles Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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Creditors: amounts falling due after more than one year
Note |
2020 |
2019 |
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Due after one year |
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Loans and borrowings |
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