Registered number
10734293
DEALER TRANSFERS LTD
Unaudited Filleted Accounts
30 April 2022
DEALER TRANSFERS LTD
Registered number: 10734293
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 50,094 50,990
Current assets
Debtors 4 24,748 35,485
Cash at bank and in hand - 2,410
24,748 37,895
Creditors: amounts falling due within one year 5 (33,413) (31,711)
Net current (liabilities)/assets (8,665) 6,184
Total assets less current liabilities 41,429 57,174
Creditors: amounts falling due after more than one year 6 (30,884) (48,287)
Net assets 10,545 8,887
Capital and reserves
Called up share capital 100 3
Profit and loss account 10,445 8,884
Shareholders' funds 10,545 8,887
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 members have 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.
B Smith
Director
Approved by the board on 3 August 2022
DEALER TRANSFERS LTD
Notes to the Accounts
for the year ended 30 April 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:
Leasehold improvements 20% reducing balance
Computer equipment 33% straight line
Motor vehicles 15% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Leasehold Improvements Computer equipment Motor vehicles Total
£ £ £ £
Cost
At 1 May 2021 - - 67,156 67,156
Additions 5,640 3,293 - 8,933
At 30 April 2022 5,640 3,293 67,156 76,089
Depreciation
At 1 May 2021 - - 16,166 16,166
Charge for the year 564 1,098 8,167 9,829
At 30 April 2022 564 1,098 24,333 25,995
Net book value
At 30 April 2022 5,076 2,195 42,823 50,094
At 30 April 2021 - - 50,990 50,990
4 Debtors 2022 2021
£ £
Trade debtors 24,748 35,000
Other debtors - 485
24,748 35,485
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 4,697 -
Obligations under finance lease and hire purchase contracts 15,905 18,410
Taxation and social security costs 8,545 11,023
Other creditors 4,266 2,278
33,413 31,711
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 17,778 22,000
Obligations under finance lease and hire purchase contracts 13,106 26,287
30,884 48,287
7 Other information
DEALER TRANSFERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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