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REGISTERED NUMBER: 05352289 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CAR RADIOS (DORCHESTER) LIMITED

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAR RADIOS (DORCHESTER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S M King
Mrs S A C King
S C King





SECRETARY: Mrs S A C King





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 05352289 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,333 4,333
Tangible assets 5 9,438 10,984
11,771 15,317

CURRENT ASSETS
Stocks 42,100 40,742
Debtors 6 26,855 32,545
Cash at bank and in hand 23,289 19,394
92,244 92,681
CREDITORS
Amounts falling due within one year 7 62,826 68,907
NET CURRENT ASSETS 29,418 23,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,189

39,091

CREDITORS
Amounts falling due after more than one
year

8

(22,027

)

(26,798

)

PROVISIONS FOR LIABILITIES 10 (1,793 ) (2,087 )
NET ASSETS 17,369 10,206

CAPITAL AND RESERVES
Called up share capital 11 150 150
Retained earnings 17,219 10,056
SHAREHOLDERS' FUNDS 17,369 10,206

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 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.

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

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 Board of Directors and authorised for issue on 7 September 2024 and were signed on its behalf by:




Mrs S A C King - Director S M King - Director




S C King - Director


CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Car Radios (Dorchester) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 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.

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 40,000
AMORTISATION
At 1 January 2023 35,667
Amortisation for year 2,000
At 31 December 2023 37,667
NET BOOK VALUE
At 31 December 2023 2,333
At 31 December 2022 4,333

5. TANGIBLE FIXED ASSETS
Fixtures
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 20,762 12,672 33,434
Additions 958 - 958
At 31 December 2023 21,720 12,672 34,392
DEPRECIATION
At 1 January 2023 16,906 5,544 22,450
Charge for year 722 1,782 2,504
At 31 December 2023 17,628 7,326 24,954
NET BOOK VALUE
At 31 December 2023 4,092 5,346 9,438
At 31 December 2022 3,856 7,128 10,984

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,855 32,545

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,300 5,000
Trade creditors 26,613 30,835
Corporation tax 9,859 9,207
Social security and other taxes 779 939
VAT 14,300 12,853
Other creditors 2,915 3,959
Directors' loan accounts 85 529
Accrued expenses 2,975 5,585
62,826 68,907

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,300 5,000
Bank loans - 2-5 years 16,727 15,000
Bank loans more 5 yr by instal - 6,798
22,027 26,798

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,798

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 27,327 31,798

£25,000 of bank borrowings are personally guaranteed by two of the directors, namely Mr S M King and Mrs S A C King .

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,793 2,087

Deferred
tax
£   
Balance at 1 January 2023 2,087
Credit to Statement of Income and Retained Earnings during year (294 )
Balance at 31 December 2023 1,793

CAR RADIOS (DORCHESTER) LIMITED (REGISTERED NUMBER: 05352289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
50 Ordinary B £1 50 50
150 150