JCD Cars Limited 07166204 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is vehicle bodywork repairs. The company also sells second hand vehicles Digita Accounts Production Advanced 6.30.9574.0 true 07166204 2023-03-01 2024-02-29 07166204 2024-02-29 07166204 bus:OrdinaryShareClass1 2024-02-29 07166204 core:RetainedEarningsAccumulatedLosses 2024-02-29 07166204 core:ShareCapital 2024-02-29 07166204 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 07166204 core:CurrentFinancialInstruments 2024-02-29 07166204 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07166204 core:Non-currentFinancialInstruments 2024-02-29 07166204 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 07166204 core:FurnitureFittingsToolsEquipment 2024-02-29 07166204 core:LandBuildings 2024-02-29 07166204 core:MotorVehicles 2024-02-29 07166204 bus:SmallEntities 2023-03-01 2024-02-29 07166204 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07166204 bus:FullAccounts 2023-03-01 2024-02-29 07166204 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07166204 bus:RegisteredOffice 2023-03-01 2024-02-29 07166204 bus:Director1 2023-03-01 2024-02-29 07166204 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 07166204 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07166204 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 07166204 core:LandBuildings 2023-03-01 2024-02-29 07166204 core:MotorVehicles 2023-03-01 2024-02-29 07166204 1 2023-03-01 2024-02-29 07166204 countries:England 2023-03-01 2024-02-29 07166204 2023-02-28 07166204 core:FurnitureFittingsToolsEquipment 2023-02-28 07166204 core:LandBuildings 2023-02-28 07166204 core:MotorVehicles 2023-02-28 07166204 2022-03-01 2023-02-28 07166204 2023-02-28 07166204 bus:OrdinaryShareClass1 2023-02-28 07166204 core:RetainedEarningsAccumulatedLosses 2023-02-28 07166204 core:ShareCapital 2023-02-28 07166204 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 07166204 core:CurrentFinancialInstruments 2023-02-28 07166204 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07166204 core:Non-currentFinancialInstruments 2023-02-28 07166204 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 07166204 core:FurnitureFittingsToolsEquipment 2023-02-28 07166204 core:LandBuildings 2023-02-28 07166204 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07166204

JCD Cars Limited

Filleted Unaudited Financial Statements

for the Year Ended 29 February 2024

 

JCD Cars Limited

(Registration number: 07166204)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

147,100

177,780

Current assets

 

Stocks

15,000

59,780

Debtors

5

299,440

167,203

Cash at bank and in hand

 

290,785

27,314

 

605,225

254,297

Creditors: Amounts falling due within one year

6

(255,937)

(194,027)

Net current assets

 

349,288

60,270

Total assets less current liabilities

 

496,388

238,050

Creditors: Amounts falling due after more than one year

6

(17,365)

(27,443)

Provisions for liabilities

(8,427)

(11,772)

Net assets

 

470,596

198,835

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

470,594

198,833

Shareholders' funds

 

470,596

198,835

 

JCD Cars Limited

(Registration number: 07166204)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 October 2024
 


Mr D A Coupland
Director

   
 

JCD Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 07166204

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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 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.

 

JCD Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Land and buildings

2% per annum on cost

Furniture, fittings and equipment

25% per annum on written down value

Motor vehicles

25% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for
the impairment of trade debtors is established when there is objective evidence that the company will
not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

JCD Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

IInterest-bearing borrowings are initially recorded at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.

Leases

Assets held under finance leases are recognised at their fair value at inception of the lease. These
assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the
lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance
lease obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 8 (2023 - 8).

 

JCD Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

121,706

133,664

73,547

328,917

Additions

-

2,190

51,338

53,528

Disposals

-

-

(88,895)

(88,895)

At 29 February 2024

121,706

135,854

35,990

293,550

Depreciation

At 1 March 2023

5,882

100,947

44,308

151,137

Charge for the year

2,434

8,458

9,104

19,996

Eliminated on disposal

-

-

(24,683)

(24,683)

At 29 February 2024

8,316

109,405

28,729

146,450

Carrying amount

At 29 February 2024

113,390

26,449

7,261

147,100

At 28 February 2023

115,824

32,717

29,239

177,780

5

Debtors

2024
£

2023
£

Trade debtors

297,307

164,692

Prepayments

2,133

2,511

299,440

167,203

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,077

21,891

Trade creditors

 

62,868

86,884

Social security and other taxes

 

155,320

25,304

Other creditors

 

27,672

59,948

 

255,937

194,027

 

JCD Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

17,365

27,443

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,077

9,829

Hire purchase contracts

-

12,062

10,077

21,891

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

17,365

27,443

The obligations under hire purchase contracts are secured upon the assets to which they relate.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2