Company Registration No. 10525323 (England and Wales)
King Cars Limited
Unaudited accounts
for the year ended 31 December 2021
King Cars Limited
Statement of financial position
as at 31 December 2021
Called up share capital not paid
100
100
Inventories
223,825
190,550
Cash at bank and in hand
70,059
76,454
Creditors: amounts falling due within one year
(134,312)
(190,326)
Net current assets
159,572
81,378
Total assets less current liabilities
159,672
81,478
Creditors: amounts falling due after more than one year
(50,000)
-
Called up share capital
100
100
Profit and loss account
109,572
81,378
Shareholders' funds
109,672
81,478
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 12 May 2022 and were signed on its behalf by
Maciej Krol
Director
Company Registration No. 10525323
King Cars Limited
Notes to the Accounts
for the year ended 31 December 2021
King Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 10525323. The registered office is MAYFLOWER NURSERY, THORPE LEA ROAD, EGHAM, SURREY, TW20 8JL.
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.
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.
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 WDA. WDA has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2021
2020
King Cars Limited
Notes to the Accounts
for the year ended 31 December 2021
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
19,591
19,052
Other creditors
109,330
170,374
Loans from directors
5,391
-
7
Creditors: amounts falling due after more than one year
2021
2020
8
Average number of employees
During the year the average number of employees was 2 (2020: 2).