TARGA FLORIO CARS LIMITED

Company Registration Number:
07108603 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

TARGA FLORIO CARS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

TARGA FLORIO CARS LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 94,904 70,391
Total fixed assets: 94,904 70,391
Current assets
Stocks: 2,518,928 2,634,439
Debtors:   73,381 50,311
Cash at bank and in hand: 5,662 5,289
Total current assets: 2,597,971 2,690,039
Creditors: amounts falling due within one year:   (2,079,465) (2,223,957)
Net current assets (liabilities): 518,506 466,082
Total assets less current liabilities: 613,410 536,473
Creditors: amounts falling due after more than one year:   (14,167) (28,466)
Provision for liabilities: (13,784) (13,429)
Total net assets (liabilities): 585,459 494,578
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 585,359 494,478
Shareholders funds: 585,459 494,578

The notes form part of these financial statements

TARGA FLORIO CARS LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 March 2024
and signed on behalf of the board by:

Name: William Kirkham
Status: Director

The notes form part of these financial statements

TARGA FLORIO CARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc – 25% on cost and 20% on reducing balance

Valuation and information policy

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

TARGA FLORIO CARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 4 4

TARGA FLORIO CARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 237,246
Additions 58,340
Disposals (14,662)
At 31 December 2023 280,924
Depreciation
At 01 January 2023 166,855
Charge for year 19,165
At 31 December 2023 186,020
Net book value
At 31 December 2023 94,904
At 31 December 2022 70,391