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Registered Number: 08838862
England and Wales

 

 

 

LIKE CAR FINANCE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
In accordance with the engagement letter and in order to assist you to fulfil your duties under the
Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us. 
This report is made to the director in accordance with the terms of our engagement. Our work has
been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report. 

You have acknowledged on the balance sheet as at year ended 31 January 2023 your duty to ensure
that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. 

You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.



Burton Varley Ltd
Suite 3, 2nd Floor, Didsbury House
748 - 754 Wilmslow Road
Manchester
M20 2DW
26 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,379    1,604 
1,379    1,604 
Current assets      
Debtors 39,372    12,243 
Cash at bank and in hand 1,284    687 
40,656    12,930 
Creditors: amount falling due within one year (14,777)   (7,101)
Net current assets 25,879    5,829 
 
Total assets less current liabilities 27,258    7,433 
Creditors: amount falling due after more than one year (13,333)   (17,333)
Provisions for liabilities   (67)
Net assets 13,925    (9,967)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 13,825    (10,067)
Shareholder's funds 13,925    (9,967)
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 October 2023 and were signed on its behalf by:


-------------------------------
Claire Howells
Director
2
General Information
Like Car Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 08838862, registration address C/O Burton Varley Ltd, Suite 3, 2nd Floor, Didsbury House, 748 - 754 Wilmslow Road, Manchester, M20 2DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 February 2022 5,885    5,885 
Additions  
Disposals  
At 31 January 2023 5,885    5,885 
Depreciation
At 01 February 2022 4,281    4,281 
Charge for year 225    225 
On disposals  
At 31 January 2023 4,506    4,506 
Net book values
Closing balance as at 31 January 2023 1,379    1,379 
Opening balance as at 01 February 2022 1,604    1,604 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3