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Registered Number: 10408427
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 October 2023

for

CAVE MOTORS LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 33,064    41,916 
33,064    41,916 
Current assets      
Stocks 4 80,900    63,600 
Debtors: amounts falling due within one year 5 922    1,989 
Cash at bank and in hand 13,555    6,123 
95,377    71,712 
Creditors: amount falling due within one year 6 (106,328)   (77,233)
Net current assets (10,951)   (5,521)
 
Total assets less current liabilities 22,113    36,395 
Creditors: amount falling due after more than one year 7 (21,216)   (25,306)
Provisions for liabilities 8 (4,030)   (7,964)
Net assets (3,133)   3,125 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account (3,233)   3,025 
Shareholders' funds (3,133)   3,125 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 29 July 2024 and were signed by:


-------------------------------
Saul Cave
Director
1
General Information
Cave Motors Limited is a private company, limited by shares, registered in England and Wales, registration number 10408427, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees



Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 November 2022 57,291    7,473    64,764 
Additions   2,170    2,170 
Disposals    
At 31 October 2023 57,291    9,643    66,934 
Depreciation
At 01 November 2022 20,980    1,868    22,848 
Charge for year 9,078    1,944    11,022 
On disposals    
At 31 October 2023 30,058    3,812    33,870 
Net book values
Closing balance as at 31 October 2023 27,233    5,831    33,064 
Opening balance as at 01 November 2022 36,311    5,605    41,916 


4.

Stocks

2023
£
  2022
£
Stocks 80,900    63,600 
80,900    63,600 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 922    1,989 
922    1,989 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 48,974    34,683 
Directors' Current Accounts 57,354    42,550 
106,328    77,233 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 21,216    25,306 
21,216    25,306 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,030    7,964 
4,030    7,964 

9.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2