REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
for |
Mondan Cars Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
for |
Mondan Cars Limited |
Mondan Cars Limited (Registered number: 07977977) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Mondan Cars Limited |
Company Information |
for the Period 1 April 2023 to 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 1 |
31 Sheephouse |
Farnham |
Surrey |
GU9 8LR |
Mondan Cars Limited (Registered number: 07977977) |
Balance Sheet |
31 August 2024 |
31.8.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mondan Cars Limited (Registered number: 07977977) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
1. | STATUTORY INFORMATION |
Mondan Cars Limited is a |
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 Directors have made the decision that the company would cease to trade at 31 August 2024, due to a significant downturn in business since Brexit. The accounts have therefore been prepared on a breakup basis. |
Revenue recognition |
Turnover is measured at fair value and comprises revenue derived from the the ordinary activities of the business during the year, net of applicable VAT. |
Tangible fixed assets |
Plant and machinery etc | - |
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 recognised in the profit and loss account. |
Taxation |
Taxation for the period 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Mondan Cars Limited (Registered number: 07977977) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments - short term debtors and creditors |
The company does not trade in financial instruments. All trade and other debtors and creditors are initially recorded at transaction price (which is usually the invoice price) and are then periodically reviewed for impairment losses for bad and doubtful debts. Any losses from impairment are recognised in the profit and loss account. The company's cash balances comprise on demand balances held with reputable banks. |
Loans and borrowings |
Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment for bad and doubtful debts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 31 August 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.3.23 |
£ | £ |
Other debtors |
Debtors include an anticipated tax refund of £6,019. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Mondan Cars Limited (Registered number: 07977977) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 August 2024 |
7. | RELATED PARTY DISCLOSURES |
Where transactions have occurred with related parties these are undertaken and recorded as under normal market conditions. |