1 August 2022 false No description of principal activity Taxfiler 2024.4 07714496business:PrivateLimitedCompanyLtd2022-08-012023-07-31 077144962022-07-31 077144962022-08-012023-07-31 07714496business:AuditExemptWithAccountantsReport2022-08-012023-07-31 07714496business:FilletedAccounts2022-08-012023-07-31 077144962023-07-31 07714496business:Director12022-08-012023-07-31 07714496business:Director22022-08-012023-07-31 07714496business:RegisteredOffice2022-08-012023-07-31 077144962022-07-31 07714496core:WithinOneYear2023-07-31 07714496core:WithinOneYear2022-07-31 07714496core:AfterOneYear2023-07-31 07714496core:AfterOneYear2022-07-31 07714496core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 07714496core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 07714496core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 07714496core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 07714496core:PreviouslyStatedAmount2023-07-31 07714496core:PreviouslyStatedAmount2022-07-31 07714496business:SmallEntities2022-08-012023-07-31 07714496countries:EnglandWales2022-08-012023-07-31 07714496core:PlantMachinery2022-08-012023-07-31 07714496core:ComputerEquipment2022-08-012023-07-31 07714496core:PlantMachinery2022-07-31 07714496core:FurnitureFittings2022-07-31 07714496core:ComputerEquipment2022-07-31 07714496core:FurnitureFittings2022-08-012023-07-31 07714496core:PlantMachinery2023-07-31 07714496core:FurnitureFittings2023-07-31 07714496core:ComputerEquipment2023-07-31 077144962021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. 07714496 (England and Wales)
Hayes Cars Limited Unaudited accounts for the year ended 31 July 2023
Hayes Cars Limited Unaudited accounts Contents
Page
- 2 -
Hayes Cars Limited Company Information for the year ended 31 July 2023
Directors
Anthony Hayes Robert Hayes
Company Number
07714496 (England and Wales)
Registered Office
C/O SWIFT ACCOUNTING & BOOKKEEPING SERVI MARKET PLACE BIDEFORD DEVON EX39 2DS ENGLAND
Accountants
Swift Accounting & Bookkeeping Services Ltd Ground Floor, The Custom House The Strand Barnstaple Devon EX31 1EU
- 3 -
Hayes Cars Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,334 
2,670 
Current assets
Inventories
235,750 
192,575 
Debtors
5,092 
15,897 
Cash at bank and in hand
29,435 
76,370 
270,277 
284,842 
Creditors: amounts falling due within one year
(37,925)
(31,955)
Net current assets
232,352 
252,887 
Total assets less current liabilities
238,686 
255,557 
Creditors: amounts falling due after more than one year
(18,333)
(28,333)
Provisions for liabilities
Deferred tax
(1,203)
(507)
Net assets
219,150 
226,717 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
219,148 
226,715 
Shareholders' funds
219,150 
226,717 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by
Robert Hayes Director Company Registration No. 07714496
- 4 -
Hayes Cars Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Hayes Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 07714496. The registered office is C/O SWIFT ACCOUNTING & BOOKKEEPING SERVI, MARKET PLACE, BIDEFORD, DEVON, EX39 2DS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 Years Straight Line
Computer equipment
3 Years Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
- 5 -
Hayes Cars Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
9,211 
290 
4,408 
13,909 
Additions
7,700 
- 
- 
7,700 
Disposals
(9,211)
- 
- 
(9,211)
At 31 July 2023
7,700 
290 
4,408 
12,398 
Depreciation
At 1 August 2022
7,351 
58 
3,830 
11,239 
Charge for the year
1,540 
58 
578 
2,176 
On disposals
(7,351)
- 
- 
(7,351)
At 31 July 2023
1,540 
116 
4,408 
6,064 
Net book value
At 31 July 2023
6,160 
174 
- 
6,334 
At 31 July 2022
1,860 
232 
578 
2,670 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,995 
15,070 
Accrued income and prepayments
1,097 
827 
5,092 
15,897 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
11,487 
4,335 
Trade creditors
5,696 
9,664 
Taxes and social security
10,742 
4,652 
Other creditors
- 
2,095 
Loans from directors
- 
1,209 
37,925 
31,955 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,333 
28,333 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 6 -