2022-09-062023-09-302023-09-30false14340904MAC'S CARS 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MAC'S CARS LIMITED

Registered Number
14340904
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2023

MAC'S CARS LIMITED
Company Information
for the period from 6 September 2022 to 30 September 2023

Directors

HILL, Ronald
SLEITH, Josh Ryan

Registered Address

83 Millyard Road
Aylesham
Canterbury
CT3 3FN

Registered Number

14340904 (England and Wales)
MAC'S CARS LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

£

£

Fixed assets
Intangible assets611,488
Tangible assets734,904
46,392
Current assets
Cash at bank and on hand2,572
2,572
Creditors amounts falling due within one year9(30,560)
Net current assets (liabilities)(27,988)
Total assets less current liabilities18,404
Creditors amounts falling due after one year10(27,645)
Net assets(9,241)
Capital and reserves
Called up share capital2
Profit and loss account(9,243)
Shareholders' funds(9,241)
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2024, and are signed on its behalf by:
HILL, Ronald
Director
SLEITH, Josh Ryan
Director

Registered Company No. 14340904
MAC'S CARS LIMITED
Notes to the Financial Statements
for the period ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company provides services to private hire taxi drivers, including vehicle rental, booking services and other services ancillary to private hire.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles4
Office Equipment3
Intangible assets policy
Intangible assest represents the purchase of goodwill and is amortised over 10 years.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Going concern
The current net liabilities are £27,988 which includes £19,283 due to directors. The accounts have been prepared on a going concern basis which relies upon the continued support of the directors for the forseeable future.
5.Employee information

2023
Average number of employees during the year2
6.Intangible assets
Intangible assets represents purchase goodwill.

Total

£
Cost or valuation
Additions12,764
At 30 September 2312,764
Amortisation and impairment
Charge for year1,276
At 30 September 231,276
Net book value
At 30 September 2311,488
At 05 September 22-
7.Property, plant and equipment

Total

£
Cost or valuation
Additions44,353
At 30 September 2344,353
Depreciation and impairment
Charge for year9,449
At 30 September 239,449
Net book value
At 30 September 2334,904
At 05 September 22-
8.Directors advances, credits and guarantees
The directors were owed £19,283 at the year end.
9.Creditors within one year

2023

£
Bank borrowings and overdrafts1,625
Finance lease and HP contracts8,651
Other creditors19,283
Accrued liabilities and deferred income1,001
Total30,560
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

£
Bank borrowings and overdrafts7,645
Other creditors20,000
Total27,645
11.Finance lease and HP contracts after one year

2023

£
Finance lease and HP contracts20,001