Company Registration No. SC540938 (Scotland)
Fresh Car Valeting Limited
Unaudited accounts
for the year ended 31 March 2023
Fresh Car Valeting Limited
Unaudited accounts
Contents
Fresh Car Valeting Limited
Company Information
for the year ended 31 March 2023
Directors
Sam Patrick Brennan
Tino Benjamin Nombro
Company Number
SC540938 (Scotland)
Registered Office
29 Stafford Street
Edinburgh
EH3 7BJ
Scotland
Fresh Car Valeting Limited
Statement of financial position
as at 31 March 2023
Intangible assets
113,130
84,695
Tangible assets
262,522
104,207
Cash at bank and in hand
57,967
51,936
Creditors: amounts falling due within one year
(202,911)
(210,933)
Net current liabilities
(8,027)
(57,301)
Total assets less current liabilities
367,625
131,601
Creditors: amounts falling due after more than one year
(384,265)
(177,290)
Net liabilities
(16,640)
(45,689)
Called up share capital
1
1
Capital contribution reserve
542,766
101,000
Profit and loss account
(559,407)
(146,690)
Shareholders' funds
(16,640)
(45,689)
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. 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 28 March 2024 and were signed on its behalf by
Sam Patrick Brennan
Director
Company Registration No. SC540938
Fresh Car Valeting Limited
Notes to the Accounts
for the year ended 31 March 2023
Fresh Car Valeting Limited is a private company, limited by shares, registered in Scotland, registration number SC540938. The registered office is 29 Stafford Street, Edinburgh, EH3 7BJ, Scotland.
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.
The accounts are presented in £ sterling.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Fresh Car Valeting Limited
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
61,376
91,260
2,819
155,455
Additions
31,632
162,611
3,163
197,406
At 31 March 2023
93,008
253,871
5,982
352,861
At 1 April 2022
24,678
26,112
458
51,248
Charge for the year
19,475
18,709
907
39,091
At 31 March 2023
44,153
44,821
1,365
90,339
At 31 March 2023
48,855
209,050
4,617
262,522
At 31 March 2022
36,698
65,148
2,361
104,207
Amounts falling due within one year
Trade debtors
112,204
81,264
Accrued income and prepayments
3,256
-
Other debtors
16,597
20,432
Fresh Car Valeting Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
55,423
53,063
Amounts owed to group undertakings and other participating interests
20
20
Taxes and social security
50,783
22,637
Other creditors
28,611
62,205
Loans from directors
125
869
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
384,265
177,290
9
Capital contribution reserve
During both 2022 and 2023 a capital contribution was received from the parent company.
10
Average number of employees
During the year the average number of employees was 11 (2022: 7).