Company Registration No. 10264985 (England and Wales)
Liphook Cars Ltd
Unaudited accounts
for the year ended 30 June 2023
Liphook Cars Ltd
Unaudited accounts
Contents
Liphook Cars Ltd
Company Information
for the year ended 30 June 2023
Directors
Mark Pyne
Roland Mark Barrett
Company Number
10264985 (England and Wales)
Registered Office
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
England
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Liphook Cars Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
73,736
38,911
Cash at bank and in hand
11,497
17,996
Creditors: amounts falling due within one year
(57,360)
(43,540)
Net current liabilities
(26,339)
(9,960)
Total assets less current liabilities
47,397
28,951
Creditors: amounts falling due after more than one year
(46,312)
(28,757)
Called up share capital
100
100
Profit and loss account
985
94
Shareholders' funds
1,085
194
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by
Mark Pyne
Director
Company Registration No. 10264985
Liphook Cars Ltd
Notes to the Accounts
for the year ended 30 June 2023
Liphook Cars Ltd is a private company, limited by shares, registered in England and Wales, registration number 10264985. The registered office is Wolfe Mead, Farnham Road, Bordon, Hampshire, GU35 0NH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Liphook Cars Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
114,234
2,551
116,785
Additions
72,773
425
73,198
Disposals
(64,469)
-
(64,469)
At 30 June 2023
122,538
2,976
125,514
At 1 July 2022
76,012
1,862
77,874
Charge for the year
16,333
263
16,596
On disposals
(42,692)
-
(42,692)
At 30 June 2023
49,653
2,125
51,778
At 30 June 2023
72,885
851
73,736
At 30 June 2022
38,222
689
38,911
Amounts falling due within one year
Accrued income and prepayments
7,830
6,302
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,569
6,444
Obligations under finance leases and hire purchase contracts
12,544
-
Trade creditors
3,798
1,046
Taxes and social security
2,093
5,955
Loans from directors
32,356
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
24,053
-
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).