Associated Broad Campden Cars Limited 09434343 false 2022-04-06 2023-04-05 2023-04-05 The principal activity of the company is licensed vehicle services Digita Accounts Production Advanced 6.30.9574.0 true 09434343 2022-04-06 2023-04-05 09434343 2023-04-05 09434343 core:RetainedEarningsAccumulatedLosses 2023-04-05 09434343 core:ShareCapital 2023-04-05 09434343 core:CurrentFinancialInstruments 2023-04-05 09434343 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 09434343 core:FurnitureFittingsToolsEquipment 2023-04-05 09434343 core:LandBuildings 2023-04-05 09434343 core:MotorVehicles 2023-04-05 09434343 bus:SmallEntities 2022-04-06 2023-04-05 09434343 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 09434343 bus:FullAccounts 2022-04-06 2023-04-05 09434343 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 09434343 bus:RegisteredOffice 2022-04-06 2023-04-05 09434343 bus:Director2 2022-04-06 2023-04-05 09434343 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 09434343 core:ComputerEquipment 2022-04-06 2023-04-05 09434343 core:FurnitureFittingsToolsEquipment 2022-04-06 2023-04-05 09434343 core:LandBuildings 2022-04-06 2023-04-05 09434343 core:MotorVehicles 2022-04-06 2023-04-05 09434343 core:OfficeEquipment 2022-04-06 2023-04-05 09434343 countries:EnglandWales 2022-04-06 2023-04-05 09434343 2022-04-05 09434343 core:FurnitureFittingsToolsEquipment 2022-04-05 09434343 core:LandBuildings 2022-04-05 09434343 core:MotorVehicles 2022-04-05 09434343 2021-04-06 2022-04-05 09434343 2022-04-05 09434343 core:RetainedEarningsAccumulatedLosses 2022-04-05 09434343 core:ShareCapital 2022-04-05 09434343 core:CurrentFinancialInstruments 2022-04-05 09434343 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-05 09434343 core:FurnitureFittingsToolsEquipment 2022-04-05 09434343 core:LandBuildings 2022-04-05 09434343 core:MotorVehicles 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 09434343

Prepared for the registrar

Associated Broad Campden Cars Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2023

 

Associated Broad Campden Cars Limited

(Registration number: 09434343)
Balance Sheet as at 5 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,901

6,093

Current assets

 

Debtors

5

30,706

30,712

Cash at bank and in hand

 

3,868

22,526

 

34,574

53,238

Creditors: Amounts falling due within one year

6

(33,813)

(53,745)

Net current assets/(liabilities)

 

761

(507)

Net assets

 

7,662

5,586

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

7,562

5,486

Total equity

 

7,662

5,586

For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 10 September 2023
 


Mrs N Smith
Director

 

Associated Broad Campden Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 79b
Northwick Business Centre
Blockley
Moreton-In-Marsh
GL56 9RF

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Associated Broad Campden Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% of written down value

Leasehold improvements

Over three years

Office equipment

Over four years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Associated Broad Campden Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

 

Associated Broad Campden Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

 

4

Tangible assets

Leasehold improvements
£

Office equipment
 £

Motor vehicles
 £

Total
£

Cost

At 6 April 2022

3,566

1,477

33,225

38,268

Additions

-

3,190

-

3,190

At 5 April 2023

3,566

4,667

33,225

41,458

Depreciation

At 6 April 2022

3,566

511

28,098

32,175

Charge for the year

-

1,100

1,282

2,382

At 5 April 2023

3,566

1,611

29,380

34,557

Carrying amount

At 5 April 2023

-

3,056

3,845

6,901

At 5 April 2022

-

966

5,127

6,093

 

5

Debtors

2023
£

2022
£

Trade debtors

18,772

5,458

Other debtors

11,543

24,863

Prepayments

391

391

 

30,706

30,712

 

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

24,095

48,645

Social security and other taxes

 

7,618

3,062

Accrued expenses

 

2,100

2,000

Corporation tax liability

-

38

 

33,813

53,745

 

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Directors loan account

24,095

48,645

 

8

Financial commitments

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,768 (2022 - £23,460).

 

Associated Broad Campden Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

 

9

Related party transactions

At 5 April 2023 the company owed Mrs N Smith £24,095 (2022 - £48,645) in the form of a directors loan account. The loan is unsecured, repayable on demand and no interest is payable.

Transactions with other related parties

Within other debtors is £11,185 (2022 - £24,405) owed from Rawlings Transport Limited. The loan is unsecured and interest free. The companies are related by virtue of the director, Mrs N Smith.