Registered number
12268527
CARZ Driving School Ltd
Filleted Accounts
31 October 2023
CARZ Driving School Ltd
Registered number: 12268527
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 22,772 28,465
Current assets
Debtors 4 450 600
Cash at bank and in hand - 1,543
450 2,143
Creditors: amounts falling due within one year 5 (39,919) (27,883)
Net current liabilities (39,469) (25,740)
Total assets less current liabilities (16,697) 2,725
Creditors: amounts falling due after more than one year 6 (34,875) (41,542)
Net liabilities (51,572) (38,817)
Capital and reserves
Called up share capital 2 2
Profit and loss account (51,574) (38,819)
Shareholder's funds (51,572) (38,817)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F. Zakaria
Director
Approved by the board on 31 July 2024
CARZ Driving School Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles - 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2022 50,847
At 31 October 2023 50,847
Depreciation
At 1 November 2022 22,382
Charge for the year 5,693
At 31 October 2023 28,075
Net book value
At 31 October 2023 22,772
At 31 October 2022 28,465
4 Debtors 2023 2022
£ £
Trade debtors 450 600
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,225 7,435
Obligations under finance lease and hire purchase contracts 2,640 3,168
Taxation and social security costs - 1,136
Director's account 28,300 11,832
Other creditors - 1,040
Accruals 1,034 1,672
Deferred income 720 1,600
39,919 27,883
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,875 38,902
Obligations under finance lease and hire purchase contracts - 2,640
34,875 41,542
7 Related party transactions
At the reporting date, the company owed £28,300 (2022: £11,832) to F. Zakaria who is the sole director and shareholder of the company. The loan is unsecured, interest free and repayable on demand.
8 Controlling party
The company is controlled by F. Zakaria.
9 Other information
CARZ Driving School Ltd is a private company limited by shares and incorporated in England. Its registered office is:
112A North Street
Hornchurch
Essex
RM11 1SU
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