Registered number
11257314
CUSTOM CAR MATS LTD
Filleted Accounts
31 March 2022
CUSTOM CAR MATS LTD
Registered number: 11257314
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 37,002 40,710
Current assets
Stocks 18,850 5,450
Debtors 4 4,950 1,185
Cash at bank and in hand 18,344 31,735
42,144 38,370
Creditors: amounts falling due within one year 5 (3,150) (2,279)
Net current assets 38,994 36,091
Total assets less current liabilities 75,996 76,801
Creditors: amounts falling due after more than one year 6 (64,755) (56,291)
Net assets 11,241 20,510
Capital and reserves
Called up share capital 100 100
Profit and loss account 11,141 20,410
Shareholder's funds 11,241 20,510
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
RIZWAN BAIG
Director
Approved by the board on 24 July 2022
CUSTOM CAR MATS LTD
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Plant and machinery etc
£ £
Cost
At 1 April 2021 50,581 50,581
Additions 1,500 1,500
At 31 March 2022 52,081 52,081
Depreciation
At 1 April 2021 9,871 9,871
Charge for the year 5,208 5,208
At 31 March 2022 15,079 15,079
Net book value
At 31 March 2022 37,002 37,002
At 31 March 2021 40,710 40,710
4 Debtors 2022 2021
£ £
Trade debtors 4,950 1,185
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors - 359
Taxation and social security costs 22 22
Other creditors 3,128 1,898
3,150 2,279
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 58,463 50,000
Other creditors 6,292 6,291
64,755 56,291
7 Other information
CUSTOM CAR MATS LTD is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 12, LINGSDALE WORKS
GIBSON STREET
BRADFORD
BD3 9TF
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