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Registered number: 05260277
Central Cars (Leigh) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Hennessey & Co
Accountants & Consultants
309 High Road
Benfleet
Essex
SS7 5HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05260277
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 6
- 6
CURRENT ASSETS
Stocks 5 276,412 283,162
Debtors 6 1,139 2,066
Cash at bank and in hand - 5,435
277,551 290,663
Creditors: Amounts Falling Due Within One Year 7 (363,350 ) (339,082 )
NET CURRENT ASSETS (LIABILITIES) (85,799 ) (48,419 )
TOTAL ASSETS LESS CURRENT LIABILITIES (85,799 ) (48,413 )
Creditors: Amounts Falling Due After More Than One Year 8 - (38,439 )
NET LIABILITIES (85,799 ) (86,852 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (85,801 ) (86,854 )
SHAREHOLDERS' FUNDS (85,799) (86,852)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lee Morrell
Director
23/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Central Cars (Leigh) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05260277 . The registered office is 8 Arterial Road, Leigh-on-Sea, SS9 4DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15 % on cost.
Computer Equipment 33 % on cost.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 9
4 9
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 14,001 535 14,536
As at 31 October 2023 14,001 535 14,536
Depreciation
As at 1 November 2022 14,000 530 14,530
Provided during the period - 6 6
As at 31 October 2023 14,000 536 14,536
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 October 2023 1 (1 ) -
As at 1 November 2022 1 5 6
5. Stocks
2023 2022
£ £
Stock 276,412 283,162
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,139 2,066
1,139 2,066
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 244,811 249,007
Bank loans and overdrafts 50,215 10,705
Other taxes and social security 3,757 5,711
VAT 6,810 3,918
Net wages 976 1,487
Director's loan account 56,781 68,254
363,350 339,082
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 38,439
- 38,439
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4