Company Registration No. 05464667 (England and Wales)
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Unaudited accounts
for the year ended 31 May 2017
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Unaudited accounts
Contents
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Company Information
for the year ended 31 May 2017
Directors
Nigel Wright
Lynne Wright
Company Number
05464667 (England and Wales)
Registered Office
8 SHOBNALL ROAD
BURTON-ON-TRENT
STAFFORDSHIRE
DE14 2BA
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Statement of financial position
as at 31 May 2017
Inventories
106,306
86,306
Cash at bank and in hand
11,472
94
Creditors: amounts falling due within one year
(90,909)
(86,261)
Net current assets
35,069
15,682
Total assets less current liabilities
37,189
16,311
Creditors: amounts falling due after more than one year
-
(483)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
36,687
15,626
Shareholders' funds
36,787
15,726
For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 October 2017.
Nigel Wright
Director
Company Registration No. 05464667
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 31 May 2017
NATIONWIDE VEHICLE SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05464667. The registered office and principal place of business is 8 SHOBNALL ROAD, BURTON-ON-TRENT, STAFFORDSHIRE, DE14 2BA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Computer equipment
33% reducing balance
NATIONWIDE VEHICLE SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 31 May 2017
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2016
-
4,493
4,493
At 31 May 2017
2,000
4,493
6,493
At 1 June 2016
-
3,864
3,864
Charge for the year
300
209
509
At 31 May 2017
300
4,073
4,373
At 31 May 2017
1,700
420
2,120
Finished goods
106,306
86,306
Trade debtors
8,200
15,543
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
44,665
51,013
Trade creditors
14,534
3,652
Taxes and social security
10,308
4,975
Loans from directors
19,102
26,621
8
Creditors: amounts falling due after more than one year
2017
2016
9
Average number of employees
During the year the average number of employees was 2 (2016: 2).