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REGISTERED NUMBER: 08358764 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Webbcar Limited

Webbcar Limited (Registered number: 08358764)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Webbcar Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: S Webb
S L Webb





REGISTERED OFFICE: 8 Shepcote Lane
Sheffield
South Yorkshire
S9 1TG





REGISTERED NUMBER: 08358764 (England and Wales)





ACCOUNTANTS: Shorts Chartered Accountants
Cedar House
63 Napier Street
Sheffield
S11 8HA

Webbcar Limited (Registered number: 08358764)

Statement of Financial Position
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,874 164,411

CURRENT ASSETS
Stocks 2,000 1,600
Debtors 5 15,824 13,716
Cash at bank and in hand 85,245 50,140
103,069 65,456
CREDITORS
Amounts falling due within one year 6 110,121 105,492
NET CURRENT LIABILITIES (7,052 ) (40,036 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,822

124,375

CREDITORS
Amounts falling due after more than one
year

7

(42,229

)

(58,408

)

PROVISIONS FOR LIABILITIES 10 (22,732 ) (18,752 )
NET ASSETS 77,861 47,215

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 77,858 47,212
SHAREHOLDERS' FUNDS 77,861 47,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Webbcar Limited (Registered number: 08358764)

Statement of Financial Position - continued
31st March 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th September 2024 and were signed on its behalf by:





S Webb - Director


Webbcar Limited (Registered number: 08358764)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Webbcar 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Improvements to property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss.If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the Statement of Comprehensive Income.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the Statement of Comprehensive Income.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Webbcar Limited (Registered number: 08358764)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Statement of Comprehensive Income in the period to which they relate.

Currency presentation
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.

Financial Instruments are recognised in the company's Statement of Financial Position when it becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Government grants
Grants received from Government are recorded in the accounting period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 20 ) .

Webbcar Limited (Registered number: 08358764)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1st April 2023 3,432 69,808 236,245
Additions - - 4,062
At 31st March 2024 3,432 69,808 240,307
DEPRECIATION
At 1st April 2023 3,432 35,523 146,723
Charge for year - 1,396 9,163
At 31st March 2024 3,432 36,919 155,886
NET BOOK VALUE
At 31st March 2024 - 32,889 84,421
At 31st March 2023 - 34,285 89,522

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 51,000 6,347 366,832
Additions - 2,727 6,789
At 31st March 2024 51,000 9,074 373,621
DEPRECIATION
At 1st April 2023 10,625 6,118 202,421
Charge for year 10,094 673 21,326
At 31st March 2024 20,719 6,791 223,747
NET BOOK VALUE
At 31st March 2024 30,281 2,283 149,874
At 31st March 2023 40,375 229 164,411

Webbcar Limited (Registered number: 08358764)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023
and 31st March 2024 51,000
DEPRECIATION
At 1st April 2023 10,625
Charge for year 10,094
At 31st March 2024 20,719
NET BOOK VALUE
At 31st March 2024 30,281
At 31st March 2023 40,375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 15,824 13,716

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 15,194 30,569
Hire purchase contracts (see note 8) 8,150 8,150
Trade creditors 36,698 40,322
Taxation and social security 46,523 24,749
Other creditors 3,556 1,702
110,121 105,492

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 23,891 31,662
Hire purchase contracts (see note 8) 18,338 26,488
Other creditors - 258
42,229 58,408

Webbcar Limited (Registered number: 08358764)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. LEASING AGREEMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the period of the lease.

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 38,000 -
Between one and five years 133,000 -
171,000 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 486 8,925
Bank loans 38,599 53,306
Hire purchase contracts 26,488 34,638
65,573 96,869

The bank loan and overdraft are secured by fixed and floating charge over the assets of the company.

The hire purchase creditor is secured over the individual assets to which it relates.

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 22,732 18,752

Deferred
tax
£   
Balance at 1st April 2023 18,752
Provided during year 3,980
Balance at 31st March 2024 22,732