C.A.R. Services (Kingswood) Limited 04988518 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is the repair of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 04988518 2022-01-01 2022-12-31 04988518 2022-12-31 04988518 bus:OrdinaryShareClass1 2022-12-31 04988518 core:CurrentFinancialInstruments 2022-12-31 04988518 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04988518 core:Goodwill 2022-12-31 04988518 core:FurnitureFittingsToolsEquipment 2022-12-31 04988518 core:OtherPropertyPlantEquipment 2022-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 04988518 bus:SmallEntities 2022-01-01 2022-12-31 04988518 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 04988518 bus:FullAccounts 2022-01-01 2022-12-31 04988518 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04988518 bus:RegisteredOffice 2022-01-01 2022-12-31 04988518 bus:Director1 2022-01-01 2022-12-31 04988518 bus:Director2 2022-01-01 2022-12-31 04988518 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 04988518 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04988518 core:Goodwill 2022-01-01 2022-12-31 04988518 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 04988518 core:OfficeEquipment 2022-01-01 2022-12-31 04988518 core:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 04988518 core:PlantMachinery 2022-01-01 2022-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-01-01 2022-12-31 04988518 countries:AllCountries 2022-01-01 2022-12-31 04988518 2021-12-31 04988518 core:Goodwill 2021-12-31 04988518 core:FurnitureFittingsToolsEquipment 2021-12-31 04988518 core:OtherPropertyPlantEquipment 2021-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-12-31 04988518 2021-01-01 2021-12-31 04988518 2021-12-31 04988518 bus:OrdinaryShareClass1 2021-12-31 04988518 core:CurrentFinancialInstruments 2021-12-31 04988518 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 04988518 core:FurnitureFittingsToolsEquipment 2021-12-31 04988518 core:OtherPropertyPlantEquipment 2021-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-01-01 2021-12-31 04988518 2020-12-31 04988518 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04988518

C.A.R. Services (Kingswood) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

C.A.R. Services (Kingswood) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

C.A.R. Services (Kingswood) Limited

Company Information

Directors

Mr M Andrews

Mrs G Andrews

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

C.A.R. Services (Kingswood) Limited

(Registration number: 04988518)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

5,749

7,534

Current assets

 

Stocks

5

650

650

Debtors

6

3,051

4,168

Cash at bank and in hand

 

30,695

44,768

 

34,396

49,586

Creditors: Amounts falling due within one year

7

(22,621)

(21,369)

Net current assets

 

11,775

28,217

Total assets less current liabilities

 

17,524

35,751

Provisions for liabilities

(1,092)

(1,431)

Net assets

 

16,432

34,320

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

16,430

34,318

Shareholders' funds

 

16,432

34,320

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

C.A.R. Services (Kingswood) Limited

(Registration number: 04988518)
Balance Sheet as at 31 December 2022

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
Mr M Andrews
Director

 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 3).

 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2022

43,070

43,070

At 31 December 2022

43,070

43,070

Amortisation

At 1 January 2022

43,070

43,070

At 31 December 2022

43,070

43,070

Carrying amount

At 31 December 2022

-

-

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

125

36,911

37,036

Additions

133

-

133

At 31 December 2022

258

36,911

37,169

Depreciation

At 1 January 2022

72

29,430

29,502

Charge for the year

47

1,871

1,918

At 31 December 2022

119

31,301

31,420

Carrying amount

At 31 December 2022

139

5,610

5,749

At 31 December 2021

53

7,481

7,534

 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

5

Stocks

2022
£

2021
£

Other inventories

650

650

6

Debtors

Current

2022
£

2021
£

Trade debtors

845

1,650

Prepayments

2,206

2,518

 

3,051

4,168

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

4,287

3,382

Taxation and social security

16,594

15,959

Accruals and deferred income

1,355

1,477

Other creditors

385

551

22,621

21,369

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

C.A.R. Services (Kingswood) Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

9

Related party transactions

Loans from related parties

2022

Key management
£

Total
£

At start of period

551

551

Advanced

8,000

8,000

Repaid

(8,166)

(8,166)

At end of period

385

385

2021

Key management
£

Total
£

At start of period

551

551

Advanced

3,500

3,500

Repaid

(3,500)

(3,500)

At end of period

551

551