Hampshire Classic Cars Limited 09976508 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Sale of motor vehicles and associated consultancy Digita Accounts Production Advanced 6.30.9574.0 true 09976508 2023-02-01 2024-01-31 09976508 2024-01-31 09976508 core:RetainedEarningsAccumulatedLosses 2024-01-31 09976508 core:ShareCapital 2024-01-31 09976508 core:CurrentFinancialInstruments 2024-01-31 09976508 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 09976508 core:Non-currentFinancialInstruments 2024-01-31 09976508 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 09976508 core:FurnitureFittings 2024-01-31 09976508 core:PlantMachinery 2024-01-31 09976508 bus:SmallEntities 2023-02-01 2024-01-31 09976508 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09976508 bus:FilletedAccounts 2023-02-01 2024-01-31 09976508 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09976508 bus:RegisteredOffice 2023-02-01 2024-01-31 09976508 bus:Director1 2023-02-01 2024-01-31 09976508 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09976508 core:FurnitureFittings 2023-02-01 2024-01-31 09976508 core:PlantMachinery 2023-02-01 2024-01-31 09976508 countries:EnglandWales 2023-02-01 2024-01-31 09976508 2023-01-31 09976508 core:FurnitureFittings 2023-01-31 09976508 core:PlantMachinery 2023-01-31 09976508 2022-02-01 2023-01-31 09976508 2023-01-31 09976508 core:RetainedEarningsAccumulatedLosses 2023-01-31 09976508 core:ShareCapital 2023-01-31 09976508 core:CurrentFinancialInstruments 2023-01-31 09976508 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09976508 core:Non-currentFinancialInstruments 2023-01-31 09976508 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 09976508 core:FurnitureFittings 2023-01-31 09976508 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 09976508

Hampshire Classic Cars Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 January 2024

 

Hampshire Classic Cars Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Hampshire Classic Cars Limited

(Registration number: 09976508)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

610

816

Current assets

 

Debtors

5

6,475

-

Cash at bank and in hand

 

7,754

25,947

 

14,229

25,947

Creditors: Amounts falling due within one year

6

(8,247)

(10,106)

Net current assets

 

5,982

15,841

Total assets less current liabilities

 

6,592

16,657

Creditors: Amounts falling due after more than one year

6

(2,667)

(4,667)

Provisions for liabilities

(116)

(155)

Net assets

 

3,809

11,835

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

3,808

11,834

Shareholders' funds

 

3,809

11,835

For the financial year ending 31 January 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Income Statement.

Approved and authorised by the director on 11 October 2024
 

 

Hampshire Classic Cars Limited

(Registration number: 09976508)
Statement of Financial Position as at 31 January 2024

.........................................
Mr R Stratton
Director

 

Hampshire Classic Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

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 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.

 

Hampshire Classic Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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 statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

25% reducing balance

Plant and machinery

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Hampshire Classic Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

1,478

1,144

2,622

At 31 January 2024

1,478

1,144

2,622

Depreciation

At 1 February 2023

814

992

1,806

Charge for the year

167

39

206

At 31 January 2024

981

1,031

2,012

Carrying amount

At 31 January 2024

497

113

610

At 31 January 2023

664

152

816

5

Debtors

2024
£

2023
£

Trade debtors

6,475

-

6,475

-

 

Hampshire Classic Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

2,000

2,000

Taxation and social security

 

3,704

5,546

Accruals and deferred income

 

2,100

2,016

Other creditors

 

443

544

 

8,247

10,106

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

2,667

4,667

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,667

4,667

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,000

2,000