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REGISTERED NUMBER: 09695774 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

ITALIAN CLASSIC CARS LTD

ITALIAN CLASSIC CARS LTD (REGISTERED NUMBER: 09695774)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITALIAN CLASSIC CARS LTD

COMPANY INFORMATION
for the Year Ended 31st December 2022







DIRECTOR: Mr M J Kelshaw





REGISTERED OFFICE: Unit 4b
Stag Industrial Estate
Altrincham
Cheshire
WA14 5DW





REGISTERED NUMBER: 09695774 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

ITALIAN CLASSIC CARS LTD (REGISTERED NUMBER: 09695774)

BALANCE SHEET
31st December 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 4 9,872 15,557
Cash at bank 364 2,516
10,236 18,073
CREDITORS
Amounts falling due within one year 5 (7,937 ) (8,530 )
NET CURRENT ASSETS 2,299 9,543
TOTAL ASSETS LESS CURRENT LIABILITIES 2,299 9,543

CREDITORS
Amounts falling due after more than one
year

6

(16,979

)

(24,216

)
NET LIABILITIES (14,680 ) (14,673 )

CAPITAL AND RESERVES
Called up share capital 7 9 9
Retained earnings (14,689 ) (14,682 )
SHAREHOLDERS' FUNDS (14,680 ) (14,673 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ITALIAN CLASSIC CARS LTD (REGISTERED NUMBER: 09695774)

BALANCE SHEET - continued
31st December 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th February 2024 and were signed by:





Mr M J Kelshaw - Director


ITALIAN CLASSIC CARS LTD (REGISTERED NUMBER: 09695774)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022


1. STATUTORY INFORMATION

Italian Classic Cars Limited is a private company limited by share capital, incorporated in England and Wales, registration number 09695774. The address of the registered office and principal place of business is 4b Atlantic Street, Broadheath, Altrincham, England, WA14 5DW.

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.

The concept of going concern is an underlying assumption in the production of financial statements. As there are considerable net liabilities there is a question mark over going concern. Although there is no formal agreement in place the directors has indicated they will continue to provide financial support to the company for at least the next 12 months.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 9,872 15,557

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 6,938 6,767
Other creditors 999 1,763
7,937 8,530

ITALIAN CLASSIC CARS LTD (REGISTERED NUMBER: 09695774)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 16,979 24,216

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
9 Ordinary £1.00 9 9

8. RELATED PARTY DISCLOSURES

Included in debtors are loans owed from a company under common control amounting to £9,872 (2021: £15,557).

During the year the company received management charges from a company under common control amounting to £2,650 (2021: £1,300).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Kelshaw by virtue of his shareholding in the business.