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REGISTERED NUMBER: 07917822 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Direct Trade Cars Limited

Direct Trade Cars Limited (Registered number: 07917822)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Direct Trade Cars Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: B Falls
J Gardner





REGISTERED OFFICE: Unit 6 Norris Way
Rushden
Northamptonshire
NN10 6BP





REGISTERED NUMBER: 07917822 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Direct Trade Cars Limited (Registered number: 07917822)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,849 103,093

CURRENT ASSETS
Stocks 274,325 221,636
Debtors 5 119,248 147,104
Cash at bank and in hand 184,059 545,544
577,632 914,284
CREDITORS
Amounts falling due within one year 6 86,890 116,516
NET CURRENT ASSETS 490,742 797,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,591

900,861

CREDITORS
Amounts falling due after more than one
year

7

(28,032

)

(32,222

)

PROVISIONS FOR LIABILITIES (1,626 ) (2,094 )
NET ASSETS 559,933 866,545

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 559,931 866,543
SHAREHOLDERS' FUNDS 559,933 866,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Direct Trade Cars Limited (Registered number: 07917822)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:




B Falls - Director



J Gardner - Director


Direct Trade Cars Limited (Registered number: 07917822)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Direct Trade Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 etc - 33% on cost and 25% on cost

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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

Direct Trade Cars Limited (Registered number: 07917822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 92,072 16,157 108,229
DEPRECIATION
At 1 February 2023 - 5,136 5,136
Charge for year - 4,244 4,244
At 31 January 2024 - 9,380 9,380
NET BOOK VALUE
At 31 January 2024 92,072 6,777 98,849
At 31 January 2023 92,072 11,021 103,093

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 119,248 145,896
Prepayments - 1,208
119,248 147,104

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 35,800 -
Amounts owed to group undertakings 4,010 -
Tax 37,090 54,982
VAT 9,143 10,634
Directors' current accounts 72 50,150
Accrued expenses 775 750
86,890 116,516

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 28,032 32,222

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary shares £1.00 2 2