Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3002022-05-050trueNo description of principal activitytruetrue 14088550 2022-05-04 14088550 2022-05-05 2023-06-30 14088550 2021-07-01 2022-05-04 14088550 2023-06-30 14088550 c:Director1 2022-05-05 2023-06-30 14088550 d:CurrentFinancialInstruments 2023-06-30 14088550 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14088550 d:ShareCapital 2023-06-30 14088550 d:RetainedEarningsAccumulatedLosses 2023-06-30 14088550 c:EntityHasNeverTraded 2022-05-05 2023-06-30 14088550 c:FRS102 2022-05-05 2023-06-30 14088550 c:AuditExempt-NoAccountantsReport 2022-05-05 2023-06-30 14088550 c:FullAccounts 2022-05-05 2023-06-30 14088550 c:PrivateLimitedCompanyLtd 2022-05-05 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 14088550









LOMAX CLASSIC CARS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2023

 
LOMAX CLASSIC CARS LIMITED
REGISTERED NUMBER: 14088550

BALANCE SHEET
AS AT 30 JUNE 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
  
1,995

  
1,995

Creditors: amounts falling due within one year
  
(17,880)

Net current (liabilities)/assets
  
 
 
(15,885)

Total assets less current liabilities
  
(15,885)

  

Net (liabilities)/assets
  
(15,885)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(15,886)

  
(15,885)


Page 1

 
LOMAX CLASSIC CARS LIMITED
REGISTERED NUMBER: 14088550
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

For the period ended 30 June 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Craig Anthony Collings
Director

Date: 5 February 2024

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
LOMAX CLASSIC CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Lomax Classic Cars Limited, '14088550', is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Unit 10 Croft Business Park, Southern Ave, Leominster, Herefordshire, United Kingdom, HR6 0QF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The director has confirmed that the business will continue to trade on a going concern basis on the understanding that he will continue to support the company.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Page 3

 
LOMAX CLASSIC CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)


For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Debtors

2023
£


Prepayments and accrued income
1,995

1,995



4.


Creditors: Amounts falling due within one year

2023
£

Other creditors
15,580

Accruals and deferred income
2,300

17,880


 
Page 4