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REGISTERED NUMBER: 07825487 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

German Tech Cars Cambridge Ltd

German Tech Cars Cambridge Ltd (Registered number: 07825487)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

German Tech Cars Cambridge Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G Gacek
G Wilk
S R Kent





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 07825487 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

German Tech Cars Cambridge Ltd (Registered number: 07825487)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,991 18,774
18,991 18,774

CURRENT ASSETS
Stocks 6 1,322 1,174
Debtors 7 28,253 24,683
Cash at bank and in hand 135,858 190,598
165,433 216,455
CREDITORS
Amounts falling due within one year 8 136,093 198,403
NET CURRENT ASSETS 29,340 18,052
TOTAL ASSETS LESS CURRENT LIABILITIES 48,331 36,826

CREDITORS
Amounts falling due after more than one year 9 (22,500 ) (32,500 )

PROVISIONS FOR LIABILITIES 12 (3,095 ) (1,828 )
NET ASSETS 22,736 2,498

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 21,236 998
SHAREHOLDERS' FUNDS 22,736 2,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 27 November 2023 and were signed on its behalf by:



S R Kent - Director


German Tech Cars Cambridge Ltd (Registered number: 07825487)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

German Tech Cars Cambridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from the maintenance and repair of motor vehicles is recognised when work has been completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three 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
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

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.



German Tech Cars Cambridge Ltd (Registered number: 07825487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022
and 31 March 2023 20,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 70,593 2,305 59,477 2,871 135,246
Additions 4,015 - - 1,005 5,020
At 31 March 2023 74,608 2,305 59,477 3,876 140,266
DEPRECIATION
At 1 April 2022 68,486 1,718 43,397 2,871 116,472
Charge for year 590 139 4,020 54 4,803
At 31 March 2023 69,076 1,857 47,417 2,925 121,275
NET BOOK VALUE
At 31 March 2023 5,532 448 12,060 951 18,991
At 31 March 2022 2,107 587 16,080 - 18,774

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 1,322 1,174

German Tech Cars Cambridge Ltd (Registered number: 07825487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 3,548 9,638
Other debtors 12,000 12,000
Prepayments 12,705 3,045
28,253 24,683

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 51,210 60,628
Tax 45,356 90,817
Social security and other taxes 2,687 3,607
VAT 21,184 22,535
Other creditors 95 -
Pension creditor (272 ) -
Directors' current accounts 1,478 7,732
Accrued expenses 4,355 3,084
136,093 198,403

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-5 years 22,500 32,500

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases totals £28,512

11. SECURED DEBTS

There is a fixed charge of the rent deposit in favour of Universities Superannuation Scheme Limited, dated 5th May 2012.

12. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 3,095 1,828

Deferred
tax
£   
Balance at 1 April 2022 1,828
Capital allowances 720
Chnage in rates 547
Balance at 31 March 2023 3,095

German Tech Cars Cambridge Ltd (Registered number: 07825487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. PROVISIONS FOR LIABILITIES - continued

The net reversal of expected deferred tax liabilities expected to occur in the next 12 months is £1,135.

At the balance sheet date the company had a £3,095 deferred tax liability (2022 - £1,828) relating to accelerated capital allowances.

Factors that may affect future tax charges

An increase in the future main corporation tax rate to 25% from 1 April 2023, from the previously enacted 19% was announced in the budget on 3 March 2021, and substantively enacted on 24 May 2021. The deferred tax balance at the year end has been calculated based on the rate at which the provision is expected to unwind.

13. RELATED PARTY DISCLOSURES

The amount outstanding at the year-end from the directors was £1,477 (2022 - £7,732)

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
German Tech Cars Cambridge Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of German Tech Cars Cambridge Ltd for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of German Tech Cars Cambridge Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of German Tech Cars Cambridge Ltd and state those matters that we have agreed to state to the Board of Directors of German Tech Cars Cambridge Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than German Tech Cars Cambridge Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that German Tech Cars Cambridge Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of German Tech Cars Cambridge Ltd. You consider that German Tech Cars Cambridge Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of German Tech Cars Cambridge Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


27 November 2023