Registered number
12257441
XL Cars (Group) Limited
Filleted Accounts
31 March 2023
XL Cars (Group) Limited
Registered number: 12257441
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 29,155 31,590
Current assets
Debtors 4 25,051 11,699
Cash at bank and in hand 11,055 34,889
36,106 46,588
Creditors: amounts falling due within one year 5 (116,882) (91,100)
Net current liabilities (80,776) (44,512)
Total assets less current liabilities (51,621) (12,922)
Creditors: amounts falling due after more than one year 6 (22,500) (32,500)
Net liabilities (74,121) (45,422)
Capital and reserves
Called up share capital 7 100 100
Profit and loss account (74,221) (45,522)
Shareholders' funds (74,121) (45,422)
The directors are 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 directors acknowledge their 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.
U B Rowley
Director
Approved by the board on 16 October 2023
XL Cars (Group) Limited
Notes to the Accounts
for the year ended 31 March 2023
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).

The accounts are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis as detailed in note 8 to the accounts.
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.
Government grants
Government grants are credited to the profit and loss account under the accruals model and recognised in other operating income when the grant proceeds become receivable.
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:
Buildings and structures over 5 years
Motor vehicles 25% reducing balance
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment 25% 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 14
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 12,654 18,918 21,295 52,867
Additions - 6,305 7,208 13,513
Disposals - (5,894) - (5,894)
At 31 March 2023 12,654 19,329 28,503 60,486
Depreciation
At 1 April 2022 5,062 9,658 6,557 21,277
Charge for the year 2,530 4,895 5,487 12,912
On disposals - (2,858) - (2,858)
At 31 March 2023 7,592 11,695 12,044 31,331
Net book value
At 31 March 2023 5,062 7,634 16,459 29,155
At 31 March 2022 7,592 9,260 14,738 31,590
4 Debtors 2023 2022
£ £
Trade debtors 21,523 9,736
Prepayments and accrued income 3,528 1,963
25,051 11,699
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,299 2,779
Taxation and social security costs 23,970 15,443
Accruals and deferred income 1,800 1,750
Other creditors 78,813 61,128
116,882 91,100
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,500 32,500
7 Share capital 2023 2022
£ £
Allotted, called up and fully paid:
Ordinary shares 100 100
8 Going concern
The accounts have been prepared on the going concern basis. However the balance sheet shows the company had net liabilities of £74,121 at 31 March 2023. There is a material uncertainty about the ability of the company to continue as a going concern which depends on the willingness of the directors to provide extended credit.
9 Other information
XL Cars (Group) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Ground Floor, Advance House
9 Waterfall Lane Trading Estate
Cradley Heath
West Midlands
B64 6PU
Its registered number is: 12257441
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