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Company Registration No. 08406601 (England and Wales)
Executive Cars (Wales) Limited Unaudited accounts for the year ended 29 February 2024
Executive Cars (Wales) Limited Unaudited accounts Contents
Page
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Executive Cars (Wales) Limited Company Information for the year ended 29 February 2024
Director
Alexander Lee Hiscocks
Company Number
08406601 (England and Wales)
Registered Office
Unit 4b Westwinds Business Park Llangan Bridgend CF35 5DR United Kingdom
Accountants
Evans Entwistle Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Executive Cars (Wales) Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Executive Cars (Wales) Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH 11 October 2024
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Executive Cars (Wales) Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
24,570 
Tangible assets
153,668 
- 
153,668 
24,570 
Current assets
Debtors
76,195 
97,179 
Cash at bank and in hand
26,507 
23,564 
102,702 
120,743 
Creditors: amounts falling due within one year
(115,127)
(38,412)
Net current (liabilities)/assets
(12,425)
82,331 
Total assets less current liabilities
141,243 
106,901 
Creditors: amounts falling due after more than one year
(132,397)
- 
Net assets
8,846 
106,901 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
8,746 
106,801 
Shareholders' funds
8,846 
106,901 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2024 and were signed on its behalf by
Alexander Lee Hiscocks Director Company Registration No. 08406601
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Executive Cars (Wales) Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Executive Cars (Wales) Limited is a private company, limited by shares, registered in England and Wales, registration number 08406601. The registered office is Unit 4b Westwinds Business Park, Llangan, Bridgend, CF35 5DR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 years straight line
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Executive Cars (Wales) Limited Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
27,300 
Disposals
(27,300)
At 29 February 2024
- 
Amortisation
At 1 March 2023
2,730 
On disposals
(2,730)
At 29 February 2024
- 
Net book value
At 29 February 2024
- 
At 28 February 2023
24,570 
5
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2023
- 
Additions
177,807 
At 29 February 2024
177,807 
Depreciation
Charge for the year
24,139 
At 29 February 2024
24,139 
Net book value
At 29 February 2024
153,668 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
52,649 
80,352 
Amounts due from group undertakings etc.
23,546 
16,827 
76,195 
97,179 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,018 
8,939 
Obligations under finance leases and hire purchase contracts
48,805 
- 
Taxes and social security
59,004 
27,773 
Accruals
2,300 
1,700 
115,127 
38,412 
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Executive Cars (Wales) Limited Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
112,451 
- 
Loans from directors
19,946 
- 
132,397 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
At the balance sheet date the company was owed the following by companies within the same group Eric James Travel Services Ltd (11886727) £22,141 (2023: £16,827) Alexander & Co Holdings (14551871) £1,405 (2023: £nil)
11
Controlling party
The company is a fully owned subsidiary of Eric James Travel Services Ltd (11886727). The ultimate beneficial owner is Alexander Hiscocks who owns 100% of the share capital of Eric James Travel Services Ltd.
12
Average number of employees
During the year the average number of employees was 12 (2023: 5).
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