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LOCATION CARS LIMITED

Registered Number
02245520
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

LOCATION CARS LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

MANKU, Hans
MOREAU, Terry Allan
PATEL, Samir

Registered Address

Lower Ground
23 Sussex Street
London
SW1V 4RR

Registered Number

02245520 (England and Wales)
LOCATION CARS LIMITED
Statement of Financial Position
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,8344,492
Investments6400400
5,2344,892
Current assets
Debtors1,010,096464,788
Cash at bank and on hand35,80316,465
1,045,899481,253
Creditors amounts falling due within one year8(898,199)(333,385)
Net current assets (liabilities)147,700147,868
Total assets less current liabilities152,934152,760
Net assets152,934152,760
Capital and reserves
Called up share capital200200
Profit and loss account152,734152,560
Shareholders' funds152,934152,760
The financial statements were approved and authorised for issue by the Board of Directors on 6 October 2023, and are signed on its behalf by:
MOREAU, Terry Allan
Director
Registered Company No. 02245520
LOCATION CARS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover represents work done during the period, excluding value added tax.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment33
Revenue recognition policy
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.
Taxation policy
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
During the year, the company benefitted from a total CJRS Government grant of £nil (2022: £10,102.13). This is measured on an accruals basis, matching the claim to the period of time it relates to. The company confirms that all funds were used to pay staff and that the criteria for claiming the grant was adhered to.
Investments policy
Investments in subsidiary undertakings are recognised at cost.
Employee benefits policy
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Valuation of financial instruments policy
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
4.Employee information

20232022
Average number of employees during the year1414
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 May 22171,773
Additions2,511
At 30 April 23174,284
Depreciation and impairment
At 01 May 22167,281
Charge for year2,169
At 30 April 23169,451
Net book value
At 30 April 234,834
At 30 April 224,492
6.Fixed asset investments

Total

£
Cost or valuation
At 01 May 22400
At 30 April 23400
Net book value
At 30 April 23400
At 30 April 22400
7.Debtors within one year

2023

2022

££
Trade debtors / trade receivables61,08746,382
Amounts owed by associates and joint ventures / participating interests59,04889,924
Other debtors1,473-
Prepayments and accrued income888,488328,482
Total1,010,096464,788
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables11,82912,118
Bank borrowings and overdrafts21,150-
Amounts owed to related parties821,674245,248
Taxation and social security24,42160,145
Other creditors4,6911,777
Accrued liabilities and deferred income14,43414,097
Total898,199333,385
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.