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REGISTERED NUMBER: 04227707 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

GOLD LINE CAR SERVICES LIMITED

GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,000 60,000
Tangible assets 5 3,151,246 2,645,108
3,196,246 2,705,108

CURRENT ASSETS
Stocks 6 379,510 31,740
Debtors 7 1,310,822 616,627
Cash at bank and in hand 258,473 400,257
1,948,805 1,048,624
CREDITORS
Amounts falling due within one year 8 557,535 553,782
NET CURRENT ASSETS 1,391,270 494,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,587,516

3,199,950

CREDITORS
Amounts falling due after more than one
year

9

(993,261

)

(813,571

)

PROVISIONS FOR LIABILITIES (702,351 ) (413,261 )
NET ASSETS 2,891,904 1,973,118

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,891,804 1,973,018
SHAREHOLDERS' FUNDS 2,891,904 1,973,118

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 March 2024 and were signed by:





W A Siddique - Director


GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Gold Line Car Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04227707

Registered office: 22 Church Lane
Leytonstone
London
E11 1HG

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Coaches and Minibuses - 10% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2022 - 50 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 150,000
AMORTISATION
At 1 August 2022 90,000
Amortisation for year 15,000
At 31 July 2023 105,000
NET BOOK VALUE
At 31 July 2023 45,000
At 31 July 2022 60,000

GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Fixtures Coaches
Short Plant and and and
leasehold machinery fittings Minibuses Totals
£    £    £    £    £   
COST
At 1 August 2022 - 240,038 621,820 3,925,668 4,787,526
Additions 45,980 - 13,323 880,674 939,977
Disposals - - - (191,025 ) (191,025 )
At 31 July 2023 45,980 240,038 635,143 4,615,317 5,536,478
DEPRECIATION
At 1 August 2022 - 182,592 482,243 1,477,583 2,142,418
Charge for year 1,839 5,745 15,281 319,343 342,208
Eliminated on disposal - - - (99,394 ) (99,394 )
At 31 July 2023 1,839 188,337 497,524 1,697,532 2,385,232
NET BOOK VALUE
At 31 July 2023 44,141 51,701 137,619 2,917,785 3,151,246
At 31 July 2022 - 57,446 139,577 2,448,085 2,645,108

6. STOCKS
2023 2022
£    £   
Stocks 379,510 31,740

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 273,500 64,050
Other debtors 1,037,322 552,577
1,310,822 616,627

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 6,060 5,121
Hire purchase contracts 477,801 503,520
Trade creditors 11,346 16,739
Taxation and social security 31,216 17,364
Other creditors 31,112 11,038
557,535 553,782

GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 890,278 640,685
Other creditors 102,983 172,886
993,261 813,571

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 6,060 5,121
Other loans 254 254
6,314 5,375

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits by/(to) a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
W A Siddique
Balance outstanding at start of year 723 1,320
Amounts repaid (2,730 ) (597 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,007 ) 723

GOLD LINE CAR SERVICES LIMITED (REGISTERED NUMBER: 04227707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


13. RELATED PARTY DISCLOSURES

The director repaid his overdrawn account within 9 months of the balance sheet date.

Amounts owed to/from connected companies:
Connected
Companies
£
Owed to Related Parties 151,468
Owed from Related Parties 1,035,356

Connected undertakings
Petchey Car Hire Limited
Seven Fives (UK) Limited
Station Self Storage Limited
Euro Links Cars Limited
Stratford City Cars Limited
Station Cars London Limited
Bailey Gardiner Cars Limited
AHR SR Investments Limited
Meadow Self Storage Limited

14. CONNECTED COMPANIES

A company having the same or predominantly the same shareholders and/or Board of Directors but which is neither a parent, subsidiary, fellow subsidiary or associated company. Any trading activities between such companies have been at arm's length.