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Company Registration No. 07260920 (England and Wales)
Car Vault (London) Ltd Unaudited accounts for the year ended 31 May 2023
Car Vault (London) Ltd Unaudited accounts Contents
Page
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Car Vault (London) Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,565 
13,431 
Current assets
Debtors
146,827 
96,335 
Cash at bank and in hand
27,410 
10,649 
174,237 
106,984 
Creditors: amounts falling due within one year
(200,059)
(72,739)
Net current (liabilities)/assets
(25,822)
34,245 
Total assets less current liabilities
(18,257)
47,676 
Creditors: amounts falling due after more than one year
(32,857)
(38,935)
Net (liabilities)/assets
(51,114)
8,741 
Capital and reserves
Called up share capital
150 
150 
Profit and loss account
(51,264)
8,591 
Shareholders' funds
(51,114)
8,741 
For the year ending 31 May 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by
Mr I K Brookes Director Company Registration No. 07260920
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Car Vault (London) Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Car Vault (London) Ltd is a private company, limited by shares, registered in England and Wales, registration number 07260920. The registered office is 14 Cobham Road, Westcliff-on-sea, Essex, SS0 8EA.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Plant & machinery
30% straight line
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Car Vault (London) Ltd Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2022
19,297 
At 31 May 2023
19,297 
Depreciation
At 1 June 2022
5,866 
Charge for the year
5,866 
At 31 May 2023
11,732 
Net book value
At 31 May 2023
7,565 
At 31 May 2022
13,431 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
662 
- 
Trade debtors
71,774 
46,063 
Accrued income and prepayments
15,491 
23,468 
Other debtors
58,900 
26,804 
146,827 
96,335 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
VAT
- 
13,419 
Trade creditors
28,744 
- 
Taxes and social security
- 
4,195 
Other creditors
86,056 
- 
Loans from directors
1,972 
7,531 
Accruals
77,287 
41,594 
200,059 
72,739 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
32,857 
38,935 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
150 Ordinary shares of £1 each
150 
150 
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Car Vault (London) Ltd Notes to the Accounts for the year ended 31 May 2023
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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