Rother Valley Cars Limited 08897286 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the sale of second hand motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 08897286 2023-01-01 2023-12-31 08897286 2023-12-31 08897286 core:RetainedEarningsAccumulatedLosses 2023-12-31 08897286 core:ShareCapital 2023-12-31 08897286 core:CurrentFinancialInstruments 2023-12-31 08897286 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08897286 core:FurnitureFittings 2023-12-31 08897286 bus:SmallEntities 2023-01-01 2023-12-31 08897286 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08897286 bus:FullAccounts 2023-01-01 2023-12-31 08897286 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08897286 bus:Director1 2023-01-01 2023-12-31 08897286 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08897286 core:FurnitureFittings 2023-01-01 2023-12-31 08897286 core:OfficeEquipment 2023-01-01 2023-12-31 08897286 countries:AllCountries 2023-01-01 2023-12-31 08897286 core:FurnitureFittings 2022-12-31 08897286 2022-01-01 2022-12-31 08897286 2022-12-31 08897286 core:RetainedEarningsAccumulatedLosses 2022-12-31 08897286 core:ShareCapital 2022-12-31 08897286 core:CurrentFinancialInstruments 2022-12-31 08897286 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08897286 core:FurnitureFittings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 08897286

Rother Valley Cars Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Rother Valley Cars Limited

(Registration number: 08897286)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

324

418

Current assets

 

Stocks

20,403

21,170

Debtors

4

9,326

12,716

Cash at bank and in hand

 

16,804

14,906

 

46,533

48,792

Creditors: Amounts falling due within one year

5

(61,606)

(48,162)

Net current (liabilities)/assets

 

(15,073)

630

Net (liabilities)/assets

 

(14,749)

1,048

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(14,849)

948

Shareholders' (deficit)/funds

 

(14,749)

1,048

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 20 September 2024
 

.........................................

L E Fisher
Director

 

Rother Valley Cars Limited

Notes to the Unaudited Financial Statements for the

Year Ended 31 December 2023

1

Accounting policies

Statutory information

Rother Valley Cars Limited is a private company, limited by shares, domiciled in England and Wales, company number 08897286. The registered office is at The BP Garage, Station Road, Halfway, Sheffield, S20 3GW.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors including the continuing financial support provided by the company's creditors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, she continues to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Rother Valley Cars Limited

Notes to the Unaudited Financial Statements for the

Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Rother Valley Cars Limited

Notes to the Unaudited Financial Statements for the

Year Ended 31 December 2023 (continued)

3

Tangible assets

Office equipment
£

Cost or valuation

At 1 January 2023

821

At 31 December 2023

821

Depreciation

At 1 January 2023

403

Charge for the year

94

At 31 December 2023

497

Carrying amount

At 31 December 2022

324

At 31 December 2022

418

4

Debtors

2023
£

2022
£

Trade debtors

8,864

11,931

Other debtors

462

785

9,326

12,716

Trade debtors include £3,263 (2022 - £4,891) receivable after more than one year.

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

1,715

1,600

Taxation and social security

612

1,196

Accruals

2,275

3,317

Director's current account

57,004

42,049

61,606

48,162