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REGISTERED NUMBER: 12071189 (England and Wales)








REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SPECIALIST CARS (MANCHESTER) LTD

SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 6


SPECIALIST CARS (MANCHESTER) LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mr H R Jayasekera





REGISTERED OFFICE: Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD





BUSINESS ADDRESS: 23 Kingsway
Levenshulme
Manchester
Greater Manchester
M19 2BZ





REGISTERED NUMBER: 12071189 (England and Wales)





ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD

SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)

REPORT OF THE DIRECTOR
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIRECTOR
Mr H R Jayasekera held office during the whole of the period from 1 January 2023 to the date of this report.

His beneficial interest in the shares of the company, according to the register of directors' interests, was as follows:

31.12.23 1.1.23
Ordinary shares of £1.00 each 1 1

He did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr H R Jayasekera - Director


18 September 2024

SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 5,953 7,680

CURRENT ASSETS
Inventories 279,715 103,651
Debtors 5 2,421 351
Cash at bank and in hand 31,898 128,215
314,034 232,217
CREDITORS
Amounts falling due within one year 6 (235,216 ) (207,309 )
NET CURRENT ASSETS 78,818 24,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,771

32,588

CREDITORS
Amounts falling due after more than one
year

7

(37,037

)

(40,741

)

PROVISIONS FOR LIABILITIES (1,488 ) -
NET ASSETS/(LIABILITIES) 46,246 (8,153 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 46,245 (8,154 )
SHAREHOLDERS' FUNDS 46,246 (8,153 )

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

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

The director acknowledges his 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.

SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)

BALANCE SHEET - continued
31 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 director and authorised for issue on 18 September 2024 and were signed by:





Mr H R Jayasekera - Director


SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Specialist Cars (Manchester) Ltd 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
Revenue 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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Inventories 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 Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SPECIALIST CARS (MANCHESTER) LTD (REGISTERED NUMBER: 12071189)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 848 239 10,474 11,561
Additions - - 1,536 1,536
At 31 December 2023 848 239 12,010 13,097
DEPRECIATION
At 1 January 2023 212 189 3,480 3,881
Charge for year 212 48 3,003 3,263
At 31 December 2023 424 237 6,483 7,144
NET BOOK VALUE
At 31 December 2023 424 2 5,527 5,953
At 31 December 2022 636 50 6,994 7,680

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 2,421 351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 6,603 5,663
Trade creditors 1,123 2,104
Taxation and social security 13,962 5,939
Other creditors 213,528 193,603
235,216 207,309

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 37,037 40,741

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr H R Jayasekera.