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Company Registration No. 06836061 (England and Wales)
Place2Place Cars Limited Unaudited accounts for the year ended 31 July 2024
Place2Place Cars Limited Unaudited accounts Contents
Page
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Place2Place Cars Limited Company Information for the year ended 31 July 2024
Director
S J McGuirk
Company Number
06836061 (England and Wales)
Registered Office
123 Cross Lane East Gravesend Kent DA12 5HA
Accountants
King & Taylor 123 Cross Lane East Gravesend Kent DA12 5HA
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Place2Place Cars Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
91,170 
70,138 
Current assets
Debtors
23,859 
24,734 
Cash at bank and in hand
51,682 
18,080 
75,541 
42,814 
Creditors: amounts falling due within one year
(89,048)
(67,969)
Net current liabilities
(13,507)
(25,155)
Total assets less current liabilities
77,663 
44,983 
Creditors: amounts falling due after more than one year
(24,526)
(46,808)
Net assets/(liabilities)
53,137 
(1,825)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
53,136 
(1,826)
Shareholders' funds
53,137 
(1,825)
For the year ending 31 July 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 2 September 2024 and were signed on its behalf by
S J McGuirk Director Company Registration No. 06836061
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Place2Place Cars Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Place2Place Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 06836061. The registered office is 123 Cross Lane East, Gravesend , Kent, DA12 5HA.
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.
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:
Motor vehicles
15% Reducing balance basis
Fixtures & fittings
25% Reducing balance basis
Computer equipment
25% Reducing balance basis
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
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Place2Place Cars Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
139,179 
1,271 
11,783 
152,233 
Additions
34,249 
534 
934 
35,717 
At 31 July 2024
173,428 
1,805 
12,717 
187,950 
Depreciation
At 1 August 2023
71,318 
1,207 
9,570 
82,095 
Charge for the year
13,954 
87 
644 
14,685 
At 31 July 2024
85,272 
1,294 
10,214 
96,780 
Net book value
At 31 July 2024
88,156 
511 
2,503 
91,170 
At 31 July 2023
67,861 
64 
2,213 
70,138 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
19,444 
36,601 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
804 
Deferred tax asset
18,273 
18,344 
Other debtors
5,586 
5,586 
23,859 
24,734 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,236 
10,024 
VAT
12,942 
12,234 
Obligations under finance leases and hire purchase contracts
6,607 
11,003 
Taxes and social security
19,422 
3,142 
Loans from directors
39,089 
30,849 
Accruals
752 
717 
89,048 
67,969 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,833 
20,125 
Obligations under finance leases and hire purchase contracts
14,693 
26,683 
24,526 
46,808 
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Place2Place Cars Limited Notes to the Accounts for the year ended 31 July 2024
8
Average number of employees
During the year the average number of employees was 9 (2023: 10).
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