2023-01-012023-12-312023-12-31false08337320SPECTRUM CAR HIRE 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SPECTRUM CAR HIRE LTD

Registered Number
08337320
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SPECTRUM CAR HIRE LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Mohammed Mohibur Rahman

Registered Address

28 Charles Road
Birmingham
B6 6RY

Registered Number

08337320 (England and Wales)
SPECTRUM CAR HIRE LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets358,90173,626
58,90173,626
Current assets
Debtors4-2,710
Cash at bank and on hand1,902140
1,9022,850
Creditors amounts falling due within one year5(273,333)(276,523)
Net current assets (liabilities)(271,431)(273,673)
Total assets less current liabilities(212,530)(200,047)
Creditors amounts falling due after one year6(29,868)(46,447)
Net assets(242,398)(246,494)
Capital and reserves
Called up share capital300300
Profit and loss account(242,698)(246,794)
Shareholders' funds(242,398)(246,494)
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
Mohammed Mohibur Rahman
Director
Registered Company No. 08337320
SPECTRUM CAR HIRE LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23126,125
At 31 December 23126,125
Depreciation and impairment
At 01 January 2352,499
Charge for year14,725
At 31 December 2367,224
Net book value
At 31 December 2358,901
At 31 December 2273,626
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-2,710
Total-2,710
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts-814
Taxation and social security49,75345,308
Finance lease and HP contracts12,71120,032
Other creditors210,869210,369
Total273,333276,523
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts7,82711,695
Other creditors22,04134,752
Total29,86846,447
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts22,04134,751