Willcars Ltd 11480871 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is sale of used cars and light motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 11480871 2022-08-01 2023-07-31 11480871 2023-07-31 11480871 bus:OrdinaryShareClass1 2023-07-31 11480871 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11480871 bus:SmallEntities 2022-08-01 2023-07-31 11480871 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11480871 bus:FilletedAccounts 2022-08-01 2023-07-31 11480871 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 11480871 bus:RegisteredOffice 2022-08-01 2023-07-31 11480871 bus:Director2 2022-08-01 2023-07-31 11480871 bus:Director3 2022-08-01 2023-07-31 11480871 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 11480871 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11480871 countries:AllCountries 2022-08-01 2023-07-31 11480871 2021-08-01 2022-07-31 11480871 2022-07-31 11480871 bus:OrdinaryShareClass1 2022-07-31 11480871 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11480871

Willcars Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Willcars Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 5

 

Willcars Ltd

Company Information

Directors

Mr Willians Frantiesco Milli

Mr Nardel De Menezes Schaeffer

Registered office

8 Cranbourne Road
Patchway
South Gloucestershire
BS34 5EA

Accountants

Loyal Accountancy Ltd
Suite 2.04
Oxford House
49 Oxford Road
London
N4 3EY

 

Willcars Ltd

(Registration number: 11480871)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

235

86

Creditors: Amounts falling due within one year

3

(50,357)

(39,100)

Net liabilities

 

(50,122)

(39,014)

Capital and reserves

 

Called up share capital

4

100

100

Retained earnings

(50,222)

(39,114)

Shareholders' deficit

 

(50,122)

(39,014)

 

Willcars Ltd

(Registration number: 11480871)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

.........................................
Mr Willians Frantiesco Milli
Director

 

Willcars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Willcars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

3

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

50,357

39,100

4

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100