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Company Registration No. 11104502 (England and Wales)
Valentine's Specialist Cars Ltd Unaudited accounts for the year ended 31 December 2021
Valentine's Specialist Cars Ltd Unaudited accounts Contents
Page
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Valentine's Specialist Cars Ltd Company Information for the year ended 31 December 2021
Director
Valentine Farrell
Company Number
11104502 (England and Wales)
Registered Office
36 Vayre Close Chipping Sodbury BRISTOL BS37 6NU ENGLAND
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Valentine's Specialist Cars Ltd Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,649 
13,019 
Current assets
Inventories
470,244 
352,391 
Debtors
9,545 
5,019 
Cash at bank and in hand
29,006 
109,244 
508,795 
466,654 
Creditors: amounts falling due within one year
(288,665)
(321,112)
Net current assets
220,130 
145,542 
Total assets less current liabilities
230,779 
158,561 
Creditors: amounts falling due after more than one year
(44,402)
(50,000)
Provisions for liabilities
Deferred tax
(715)
- 
Net assets
185,662 
108,561 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
185,661 
108,560 
Shareholders' funds
185,662 
108,561 
For the year ending 31 December 2021 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 15 March 2022 and were signed on its behalf by
Valentine Farrell Director Company Registration No. 11104502
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Valentine's Specialist Cars Ltd Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Valentine's Specialist Cars Ltd is a private company, limited by shares, registered in England and Wales, registration number 11104502. The registered office is 36 Vayre Close, Chipping Sodbury, BRISTOL, BS37 6NU, ENGLAND.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Land & buildings
0% Straight line
Plant & machinery
20% Straight line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2021
8,696 
6,132 
14,828 
Additions
- 
666 
666 
At 31 December 2021
8,696 
6,798 
15,494 
Depreciation
At 1 January 2021
- 
1,809 
1,809 
Charge for the year
- 
3,036 
3,036 
At 31 December 2021
- 
4,845 
4,845 
Net book value
At 31 December 2021
8,696 
1,953 
10,649 
At 31 December 2020
8,696 
4,323 
13,019 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
9,545 
1,845 
Other debtors
- 
3,174 
9,545 
5,019 
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Valentine's Specialist Cars Ltd Notes to the Accounts for the year ended 31 December 2021
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
110,760 
47,720 
Trade creditors
2,056 
- 
Taxes and social security
26,526 
37,675 
Other creditors
- 
100 
Loans from directors
148,773 
235,117 
Accruals
550 
500 
288,665 
321,112 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
44,402 
50,000 
8
Average number of employees
During the year the average number of employees was 2 (2020: 2).
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