Company No:
Contents
DIRECTORS | D Edmonston |
E Lovett |
REGISTERED OFFICE | 10 Temple Back |
Bristol | |
BS1 6FL | |
United Kingdom |
COMPANY NUMBER | 13052732 (England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
10 Temple Back | |
Bristol | |
BS1 6FL |
Note | 31.12.2021 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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2,047 | ||
Current assets | ||
Debtors | 4 |
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Cash at bank and in hand |
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4,727 | ||
Creditors | ||
Amounts falling due within one year | 5 | (
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Net current liabilities | (207,694) | |
Total assets less current liabilities | (205,647) | |
Provisions for liabilities | (
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Net liabilities | (
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Capital and reserves | ||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of Collecting Cars APAC Limited (registered number:
E Lovett
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Collecting Cars APAC Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Temple Back, Bristol, BS1 6FL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Office equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 01.12.2020 to 31.12.2021 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Directors are contracted to The Collecting Group Ltd.
Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 December 2020 |
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Additions |
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At 31 December 2021 |
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Accumulated depreciation | |||
At 01 December 2020 |
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Charge for the financial period |
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At 31 December 2021 |
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Net book value | |||
At 31 December 2021 |
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31.12.2021 | |
£ | |
VAT recoverable |
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31.12.2021 | |
£ | |
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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31.12.2021 | |
£ | |
Allotted, called-up and fully-paid | |
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During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.