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REGISTERED NUMBER: 03355709 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Abba Cars Ltd

Abba Cars Ltd (Registered number: 03355709)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abba Cars Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: M L Adkins
Ms L P Duffin
A Burch





SECRETARY:





REGISTERED OFFICE: Blue House Farm Office
Brentwood Road
West Horndon
Essex
CM13 3LX





REGISTERED NUMBER: 03355709 (England and Wales)





ACCOUNTANTS: The Randall's Partnership Ltd
Chartered Accountants
Blue House Farm Office
Brentwood Road
West Horndon
Essex
CM13 3LX

Abba Cars Ltd (Registered number: 03355709)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 142,557 139,263
142,557 139,263

CURRENT ASSETS
Debtors 6 174,867 174,082
Cash at bank 11,430 22,998
186,297 197,080
CREDITORS
Amounts falling due within one year 7 53,195 63,280
NET CURRENT ASSETS 133,102 133,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,659

273,063

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 275,559 272,963
SHAREHOLDERS' FUNDS 275,659 273,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Abba Cars Ltd (Registered number: 03355709)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2023 and were signed on its behalf by:





M L Adkins - Director


Abba Cars Ltd (Registered number: 03355709)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Abba Cars Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
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.


Abba Cars Ltd (Registered number: 03355709)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,000
AMORTISATION
At 1 March 2022
and 28 February 2023 5,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Abba Cars Ltd (Registered number: 03355709)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 894,496
Additions 25,692
At 28 February 2023 920,188
DEPRECIATION
At 1 March 2022 755,233
Charge for year 22,398
At 28 February 2023 777,631
NET BOOK VALUE
At 28 February 2023 142,557
At 28 February 2022 139,263

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 11,610 11,318
Other debtors 163,257 162,764
174,867 174,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 42,089 46,801
Trade creditors 8,081 14,110
Taxation and social security 1,827 985
Other creditors 1,198 1,384
53,195 63,280

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party during this year and the prior year was D R Burch due to the overall shareholding.