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Company Registration No. 05507368 (England and Wales)
Classic Car Sales Limited Unaudited accounts for the year ended 31 March 2024
Classic Car Sales Limited Unaudited accounts Contents
Page
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Classic Car Sales Limited Company Information for the year ended 31 March 2024
Director
M O'Shea
Company Number
05507368 (England and Wales)
Registered Office
Nuffield House Nuffield Henley-on-Thames RG9 5SY United Kingdom
Accountants
Evolve Accounting and Tax Solutions Ltd Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
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Classic Car Sales Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
50,000 
50,000 
Current assets
Inventories
547,081 
587,081 
Debtors
42,381 
42,329 
Cash at bank and in hand
41,476 
90,169 
630,938 
719,579 
Creditors: amounts falling due within one year
(1,462)
(720)
Net current assets
629,476 
718,859 
Total assets less current liabilities
679,476 
768,859 
Creditors: amounts falling due after more than one year
(920,792)
(978,667)
Net liabilities
(241,316)
(209,808)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(241,416)
(209,908)
Shareholders' funds
(241,316)
(209,808)
For the year ending 31 March 2024 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 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 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 and authorised for issue on 17 July 2024 and were signed on its behalf by
M O'Shea Director Company Registration No. 05507368
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Classic Car Sales Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Classic Car Sales Limited is a private company, limited by shares, registered in England and Wales, registration number 05507368. The registered office is Nuffield House, Nuffield, Henley-on-Thames, RG9 5SY, United Kingdom.
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.
Going concern
The directors consider it appropriate to prepare the accounts on a going concern basis. With the continued support of the fellow group companies, the company is able to pay its debts as they fall due.
Investments
Investments are measured at cost less accumulated impairment.
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.
4
Investments
Other investments 
£ 
Valuation at 1 April 2023
50,000 
Valuation at 31 March 2024
50,000 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
23,376 
23,376 
Other debtors
19,005 
18,953 
42,381 
42,329 
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Classic Car Sales Limited Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
742 
- 
Accruals
720 
720 
1,462 
720 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
920,792 
978,667 
8
Transactions with related parties
At the Balance Sheet date an amount of £23,376 (2022: £23,376) was due from Commercial Holdings Limited. Commercial Holdings Limited owns 100% of the shares of the company. At the Balance Sheet date an amount of £903,793 (2022: £961,667) was due to London Commercial Investments Limited, a fellow subsidiary of Commercial Holdings Limited. At the Balance Sheet date an amount of £17,000 (2022: £17,000) was due to Dashwood Investments Limited, a fellow subsidiary of Commercial Holdings Limited.
9
Controlling party
The ultimate parent company is Commercial Holdings Limited, a company registered in England and Wales. The ultimate controlling party is M O'Shea, a director and shareholder of Commercial Holdings Limited.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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