Carfile Contracts & Leasing Limited 01989746 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is car brokerage and leasing Digita Accounts Production Advanced 6.30.9574.0 true 01989746 2022-08-01 2023-07-31 01989746 2023-07-31 01989746 core:CurrentFinancialInstruments 2023-07-31 01989746 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 01989746 core:OtherPropertyPlantEquipment 2023-07-31 01989746 bus:SmallEntities 2022-08-01 2023-07-31 01989746 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 01989746 bus:FullAccounts 2022-08-01 2023-07-31 01989746 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 01989746 bus:RegisteredOffice 2022-08-01 2023-07-31 01989746 bus:Director1 2022-08-01 2023-07-31 01989746 bus:Director2 2022-08-01 2023-07-31 01989746 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 01989746 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 01989746 core:PlantMachinery 2022-08-01 2023-07-31 01989746 countries:EnglandWales 2022-08-01 2023-07-31 01989746 2022-07-31 01989746 core:OtherPropertyPlantEquipment 2022-07-31 01989746 2021-08-01 2022-07-31 01989746 2022-07-31 01989746 core:CurrentFinancialInstruments 2022-07-31 01989746 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 01989746 core:OtherPropertyPlantEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 01989746

Carfile Contracts & Leasing Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Carfile Contracts & Leasing Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Carfile Contracts & Leasing Limited

Company Information

Directors

P A Lawless

J Lawless

Registered office

Woodfarm
Ednaston
Derbyshire
DE6 3BA

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Carfile Contracts & Leasing Limited

Directors' Report for the Year Ended 31 July 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Directors of the company

The directors who held office during the year were as follows:

P A Lawless

J Lawless

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 1 February 2024 and signed on its behalf by:
 

.........................................
P A Lawless
Director

.........................................
J Lawless
Director

 

Carfile Contracts & Leasing Limited

(Registration number: 01989746)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,560

1,860

Investment property

5

1,070,475

1,070,475

 

1,072,035

1,072,335

Current assets

 

Debtors

6

19,445

6,446

Cash at bank and in hand

 

129,053

120,885

 

148,498

127,331

Creditors: Amounts falling due within one year

7

(23,451)

(17,908)

Net current assets

 

125,047

109,423

Total assets less current liabilities

 

1,197,082

1,181,758

Provisions for liabilities

(58,000)

(58,331)

Net assets

 

1,139,082

1,123,427

Capital and reserves

 

Called up share capital

10,000

10,000

Other reserves

247,318

247,318

Retained earnings

881,764

866,109

Shareholders' funds

 

1,139,082

1,123,427

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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 1 February 2024 and signed on its behalf by:
 

 

Carfile Contracts & Leasing Limited

(Registration number: 01989746)
Balance Sheet as at 31 July 2023 (continued)

.........................................
P A Lawless
Director

.........................................
J Lawless
Director

 
     
 

Carfile Contracts & Leasing Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 01989746.

The address of its registered office is:
Woodfarm
Ednaston
Derbyshire
DE6 3BA

These financial statements were authorised for issue by the Board on 1 February 2024.

2

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.

The presentation currency is £ sterling.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Carfile Contracts & Leasing Limited

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

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Carfile Contracts & Leasing Limited

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

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2022

6,529

6,529

At 31 July 2023

6,529

6,529

Depreciation

At 1 August 2022

4,669

4,669

Charge for the year

300

300

At 31 July 2023

4,969

4,969

Carrying amount

At 31 July 2023

1,560

1,560

At 31 July 2022

1,860

1,860

5

Investment properties

£

At 1 August 2022

1,070,475

At 31 July 2023

1,070,475

The Investment Properties class was revalued on 31 July 2023 by P A Lawless (director) who is internal to the company. The basis of the valuation was open market value.

There has been no valuation of investment property by an independent valuer.

 

Carfile Contracts & Leasing Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

19,445

6,370

Prepayments

-

76

 

19,445

6,446

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,037

583

Taxation and social security

10,659

10,671

Accruals and deferred income

3,805

3,613

Other creditors

7,950

3,041

23,451

17,908