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REGISTERED NUMBER: 04365329 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

S Cars Limited

S Cars Limited (Registered number: 04365329)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S Cars Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: S Saggar





SECRETARY: Mrs A Saggar





REGISTERED OFFICE: Queen Anne Garage
Church Road
Shaw
Manchester
OL2 7AU





REGISTERED NUMBER: 04365329 (England and Wales)





ACCOUNTANTS: Rowlinson Rainbow & Company
5/7 New Road
Radcliffe
Greater Manchester
M26 1LS

S Cars Limited (Registered number: 04365329)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 554,559 51,190

CURRENT ASSETS
Inventories 1,363,596 982,808
Debtors 5 8,452 3,872
Cash at bank and in hand 187,765 188,476
1,559,813 1,175,156
CREDITORS
Amounts falling due within one year 6 716,878 403,317
NET CURRENT ASSETS 842,935 771,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,397,494

823,029

CREDITORS
Amounts falling due after more than one
year

7

154,204

83,322
NET ASSETS 1,243,290 739,707

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,233,290 729,707
1,243,290 739,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

S Cars Limited (Registered number: 04365329)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:





S Saggar - Director


S Cars Limited (Registered number: 04365329)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

S 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
Revenue 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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

Stocks
Inventories 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.

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 3 (2022 - 4 ) .

S Cars Limited (Registered number: 04365329)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 3,500 125,998 129,498
Additions 513,607 - 513,607
At 31 October 2023 517,107 125,998 643,105
DEPRECIATION
At 1 November 2022 1,738 76,570 78,308
Charge for year 352 9,886 10,238
At 31 October 2023 2,090 86,456 88,546
NET BOOK VALUE
At 31 October 2023 515,017 39,542 554,559
At 31 October 2022 1,762 49,428 51,190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by participating interests 3,000 3,000
Other debtors 5,452 872
8,452 3,872

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 204,400 296,865
Taxation and social security 184,739 85,068
Other creditors 327,739 21,384
716,878 403,317

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Other creditors 154,204 83,322