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
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
Valentine's Specialist Cars Ltd
Statement of financial position
as at 31 December 2021
Tangible assets
10,649
13,019
Inventories
470,244
352,391
Cash at bank and in hand
29,006
109,244
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
Net assets
185,662
108,561
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
Valentine's Specialist Cars Ltd
Notes to the Accounts
for the year ended 31 December 2021
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.
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 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
At 31 December 2021
8,696
6,798
15,494
At 1 January 2021
-
1,809
1,809
Charge for the year
-
3,036
3,036
At 31 December 2021
-
4,845
4,845
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
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
Taxes and social security
26,526
37,675
Loans from directors
148,773
235,117
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).