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Company Registration No. 12261935 (England and Wales)
Locar Limited Unaudited accounts for the year ended 31 October 2023
Locar Limited Unaudited accounts Contents
Page
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Locar Limited Company Information for the year ended 31 October 2023
Directors
Adam Wheeler Chloe Wheeler
Company Number
12261935 (England and Wales)
Registered Office
Desai & Co Accountants Northside House Mount Pleasant Barnet Hertfordshire EN4 9EB England
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Locar Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,035,222 
1,385,318 
Current assets
Debtors
412,066 
137,136 
Cash at bank and in hand
63,789 
72,867 
475,855 
210,003 
Creditors: amounts falling due within one year
(117,578)
(111,559)
Net current assets
358,277 
98,444 
Total assets less current liabilities
2,393,499 
1,483,762 
Creditors: amounts falling due after more than one year
(2,229,408)
(1,349,334)
Net assets
164,091 
134,428 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
163,991 
134,328 
Shareholders' funds
164,091 
134,428 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
Adam Wheeler Director Company Registration No. 12261935
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Locar Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Locar Limited is a private company, limited by shares, registered in England and Wales, registration number 12261935. The registered office is Desai & Co Accountants, Northside House, Mount Pleasant, Barnet, Hertfordshire, EN4 9EB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25 RB
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 November 2022
1,521,815 
Additions
1,151,437 
Disposals
(146,379)
At 31 October 2023
2,526,873 
Depreciation
At 1 November 2022
136,497 
Charge for the year
441,822 
On disposals
(86,668)
At 31 October 2023
491,651 
Net book value
At 31 October 2023
2,035,222 
At 31 October 2022
1,385,318 
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Locar Limited Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
54,166 
- 
Trade debtors
11,061 
4,193 
Accrued income and prepayments
- 
26,058 
Other debtors
- 
106,885 
65,227 
137,136 
Amounts falling due after more than one year
Other debtors
346,839 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
13,611 
74,900 
Trade creditors
- 
34,025 
Taxes and social security
639 
- 
Other creditors
- 
2,634 
Loans from directors
166,872 
- 
Accruals
(63,544)
- 
117,578 
111,559 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
247,870 
Obligations under finance leases and hire purchase contracts
1,787,539 
1,100,790 
Amounts owed to group undertakings and other participating interests
441,869 
- 
Other creditors
- 
674 
2,229,408 
1,349,334 
8
Average number of employees
During the year the average number of employees was 3 (2022: 2).
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