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
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
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
Executive Cars (Wales) Limited
Statement of financial position
as at 29 February 2024
Intangible assets
-
24,570
Cash at bank and in hand
26,507
23,564
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)
-
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
Executive Cars (Wales) Limited
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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
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.
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.
Executive Cars (Wales) Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill
At 28 February 2023
24,570
5
Tangible fixed assets
Motor vehicles
At 29 February 2024
177,807
Charge for the year
24,139
At 29 February 2024
24,139
At 29 February 2024
153,668
Amounts falling due within one year
Trade debtors
52,649
80,352
Amounts due from group undertakings etc.
23,546
16,827
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
48,805
-
Taxes and social security
59,004
27,773
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
-
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)
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).