Registered number
09078370
BLACKWOOD SELF DRIVE LIMITED
Filleted Accounts
31 March 2023
BLACKWOOD SELF DRIVE LIMITED
Registered number: 09078370
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,966 57,457
Current assets
Stocks 42,000 40,000
Cash at bank and in hand 40,031 15,012
82,031 55,012
Creditors: amounts falling due within one year 4 (31,656) (19,626)
Net current assets 50,375 35,386
Total assets less current liabilities 96,341 92,843
Creditors: amounts falling due after more than one year 5 (41,929) (36,581)
Net assets 54,412 56,262
Capital and reserves
Called up share capital 1 1
Profit and loss account 54,411 56,261
Shareholder's funds 54,412 56,262
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R G Williams
Director
Approved by the board on 30 October 2023
BLACKWOOD SELF DRIVE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Plant & Machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 2,415 85,058 87,473
At 31 March 2023 2,415 85,058 87,473
Depreciation
At 1 April 2022 492 29,524 30,016
Charge for the year 385 11,106 11,491
At 31 March 2023 877 40,630 41,507
Net book value
At 31 March 2023 1,538 44,428 45,966
At 31 March 2022 1,923 55,534 57,457
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,000 4,913
Obligations under finance lease and hire purchase contracts 9,974 9,974
Trade creditors 495 739
Corporation tax 12,529 -
Other taxes and social security costs 9,672 3,011
Other creditors (4,014) 989
31,656 19,626
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,835 10,500
Obligations under finance lease and hire purchase contracts 16,094 26,081
41,929 36,581
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr R G Williams
Directors loan account (29) 67,806 (62,802) 4,975
(29) 67,806 (62,802) 4,975
7 Controlling party
The company is ultimately controlled by the director by virtue of his shareholding.
8 Other information
BLACKWOOD SELF DRIVE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
31 Bridge Street
Blackwood
Gwent
NP12 1AX
BLACKWOOD SELF DRIVE LIMITED 09078370 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Mr R G Williams No description of principal activity 09078370 2021-04-01 2022-03-31 09078370 core:WithinOneYear 2022-03-31 09078370 core:AfterOneYear 2022-03-31 09078370 core:ShareCapital 2022-03-31 09078370 core:RetainedEarningsAccumulatedLosses 2022-03-31 09078370 2022-04-01 2023-03-31 09078370 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09078370 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09078370 bus:Director40 2022-04-01 2023-03-31 09078370 1 2022-04-01 2023-03-31 09078370 2 2022-04-01 2023-03-31 09078370 core:PlantMachinery 2022-04-01 2023-03-31 09078370 core:Vehicles 2022-04-01 2023-03-31 09078370 bus:Director1 2022-04-01 2023-03-31 09078370 bus:Director1 1 2022-04-01 2023-03-31 09078370 countries:England 2022-04-01 2023-03-31 09078370 bus:FRS102 2022-04-01 2023-03-31 09078370 bus:FullAccounts 2022-04-01 2023-03-31 09078370 2023-03-31 09078370 core:WithinOneYear 2023-03-31 09078370 core:AfterOneYear 2023-03-31 09078370 core:ShareCapital 2023-03-31 09078370 core:RetainedEarningsAccumulatedLosses 2023-03-31 09078370 core:PlantMachinery 2023-03-31 09078370 core:Vehicles 2023-03-31 09078370 bus:Director1 1 2023-03-31 09078370 2022-03-31 09078370 core:PlantMachinery 2022-03-31 09078370 core:Vehicles 2022-03-31 09078370 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure