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CARTAKEBACK.COM LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2023






CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARTAKEBACK.COM LIMITED

Company Information
for the year ended 31st December 2023







DIRECTORS: Dr J V Boyle
C T Harry
S Sykes
A J Tromans
Mrs T M Murphy





REGISTERED OFFICE: Bankfield House
Bankfield Mill
Regent Road
Liverpool
L20 8RQ





REGISTERED NUMBER: 04500288 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 54,871 12,466
Tangible assets 5 - -
Investments 6 570,024 570,024
624,895 582,490

CURRENT ASSETS
Stocks 20,000 -
Debtors 7 358,681 302,759
Cash at bank 488,476 588,072
867,157 890,831
CREDITORS
Amounts falling due within one year 8 400,685 396,314
NET CURRENT ASSETS 466,472 494,517
TOTAL ASSETS LESS CURRENT LIABILITIES 1,091,367 1,077,007

PROVISIONS FOR LIABILITIES 9,886 -
NET ASSETS 1,081,481 1,077,007

CAPITAL AND RESERVES
Called up share capital 400,000 400,000
Retained earnings 681,481 677,007
SHAREHOLDERS' FUNDS 1,081,481 1,077,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2024 and were signed on its behalf by:




C T Harry - Director



Dr J V Boyle - Director


CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Cartakeback.com Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

Provision for bad debts resultant from management review of the debtors ledger identifying specific balances which are deemed unlikely to be recovered due to their understanding of the current status with the customer.

Fixed asset investments are valued at cost less impairment. The valuation is considered annually by management in light of the performance of the companies past and present which the valuation represents along with expected future performance of those companies based on management experience and knowledge.

The useful economic lives and residual values of fixed assets are assessed by management on a timely basis.

Turnover
Turnover is primarily derived from three sources:

1. Referral fees from the CTB Collect scheme. The fees are earned when one of our ATF customers confirms that they have taken delivery of a scrap vehicle referred to them via our website.

2. Service fees from contracted authorised treatment facilities (ATFs) in connection with the supply of compliance services to them for the vehicles that they have processed. The service fee is generated at the point at which the ATF loads the vehicle data onto the Financial and Data System (FADS).

3. Contributions from motor vehicle manufacturers recognised on an annual basis under long term contractual arrangements.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% reducing balance


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in the Statement of income and retained earnings.

Tangible and intangible fixed assets are reviewed for impairment if there is an indication that an impairment has occurred. Where there is evidence of impairment, fixed assets are written down to their recoverable amount. Any such write-down is charged to operating profit.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debtors, creditors, and intercompany loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid.

Taxation
Taxation for the Year comprises current and deferred tax, recognized in the Income Statement

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognized at the amount of tax payable using the tax rates and laws that have been enacted.


CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognized in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognized in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognized 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.

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023 1,443,075
Additions 72,000
At 31st December 2023 1,515,075
AMORTISATION
At 1st January 2023 1,430,609
Charge for year 29,595
At 31st December 2023 1,460,204
NET BOOK VALUE
At 31st December 2023 54,871
At 31st December 2022 12,466

CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st January 2023
and 31st December 2023 4,579
DEPRECIATION
At 1st January 2023
and 31st December 2023 4,579
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 570,024
NET BOOK VALUE
At 31st December 2023 570,024
At 31st December 2022 570,024

Further detail is included in note 9.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 342,266 291,787
Other debtors 16,415 10,972
358,681 302,759

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 185,085 171,540
Taxation and social security 42,098 65,932
Other creditors 173,502 158,842
400,685 396,314

CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

9. RELATED PARTY DISCLOSURES

Two subsidiary companies have been set up in both New Zealand and Australia. Costs incurred in the set up of these companies were treated as loans which would have become repayable to Cartakeback.com Limited once these companies began to trade. These loans made to Cartakeback Australia PTY Ltd and Cartakeback New Zealand Limited have been capitalised and are now included in investments. The value of those investments at the balance sheet date amounts to £500,183 (2022 - £500,183).

Further included in investments is the sum of £69,842 (2022 - £69,842) regarding Cartakeback.com Ireland Ltd.