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COMPANY REGISTRATION NUMBER: 01177845
CALDERDALE CAR COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
CALDERDALE CAR COMPANY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 6
CALDERDALE CAR COMPANY LIMITED
BALANCE SHEET
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
86,064
86,453
Current assets
Stocks
6
30,322
23,809
Debtors
7
776
77
Cash at bank and in hand
19,051
28,687
------------
------------
50,149
52,573
Creditors: amounts falling due within one year
8
( 62,737)
( 22,571)
------------
------------
Net current (liabilities)/assets
( 12,588)
30,002
------------
------------
Total assets less current liabilities
73,476
116,455
Creditors: amounts falling due after more than one year
9
( 26,527)
Provisions
( 74)
------------
------------
Net assets
73,476
89,854
------------
------------
Capital and reserves
Called up share capital
11
200
200
Profit and loss account
73,276
89,654
------------
------------
Shareholders funds
73,476
89,854
------------
------------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CALDERDALE CAR COMPANY LIMITED
BALANCE SHEET (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr M R Uttley
Director
Company registration number: 01177845
CALDERDALE CAR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, company number 01177845 . The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA. The place of business of the company is Pye Nest Road, Sowerby Bridge, West Yorkshire, HX6 2BX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investment properties
FRS102 requires that properties held for investment be included in the balance sheet at fair value in accordance with section 16 of FRS 102. The director considers that to comply with this requirement would involve unjustifiable expense and investment properties are continuing to be stated at cost.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
86,064
1,166
87,230
------------
------------
------------
Depreciation
At 1 April 2022
777
777
Charge for the year
389
389
------------
------------
------------
At 31 March 2023
1,166
1,166
------------
------------
------------
Carrying amount
At 31 March 2023
86,064
86,064
------------
------------
------------
At 31 March 2022
86,064
389
86,453
------------
------------
------------
6. Stocks
2023
2022
£
£
Vehicle stock
30,322
23,809
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
700
Prepayments and accrued income
76
77
------------
------------
776
77
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank overdrafts
3,768
Accruals and deferred income
1,653
1,013
Corporation tax
3,809
5,632
Social security and other taxes
285
1,167
Other creditors
8,650
8,650
Director's loan account
48,340
2,341
------------
------------
62,737
22,571
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
26,527
------------
------------
Included within creditors: amounts falling due after more than one year is an amount of £nil (2022 - £26,527) in respect of liabilities which fall due for payment after more than five years from the balance sheet date. The loan was repaid in the year.
10. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
74
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
74
------------
------------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
199
199
199
199
'A' Ordinary shares of £ 1 each
1
1
1
1
------------
------------
------------
------------
200
200
200
200
------------
------------
------------
------------
12. Related party transactions
Included in other creditors is a loan of £8,650 (2022: £8,650) due to a company controlled by the director. This loan is unsecured, repayable on demand and interest free. The director's loan account included in creditors, in the amount of £48,340 (2022: £2,341) is unsecured, repayable on demand and currently interest free.