Registered number
06449730
Havanna Cars Limited
Unaudited Filleted Accounts
31 January 2024
Havanna Cars Limited
Registered number: 06449730
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 242,371 250,922
242,371 250,922
Current assets
Debtors 4 140,700 35,204
Cash at bank and in hand 110,568 78,451
251,268 113,655
Creditors: amounts falling due within one year 5 (324,977) (227,778)
Net current liabilities (73,709) (114,123)
Total assets less current liabilities 168,662 136,799
Creditors: amounts falling due after more than one year 6 (14,243) (24,243)
Provisions for liabilities (11,154) (11,551)
Net assets 143,265 101,005
Capital and reserves
Called up share capital 1 1
Profit and loss account 143,264 101,004
Shareholders' funds 143,265 101,005
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. M. Ajaz
Director
Approved by the board on 21 October 2024
Havanna Cars Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Motor vehicles 25% straight line
Plant and machinery 15% straight line
Fixtures, fittings, tools and equipment 15% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. 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 losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 22
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 87,778 67,896 327,424 483,098
Additions - 4,567 83,368 87,935
Surplus on revaluation - - - -
Disposals - - - -
At 31 January 2024 87,778 72,463 410,792 571,033
Depreciation
At 1 February 2023 7,022 62,351 162,803 232,176
Charge for the year 3,625 - 92,861 96,486
Surplus on revaluation - - - -
On disposals - - - -
At 31 January 2024 10,647 62,351 255,664 328,662
Net book value
At 31 January 2024 77,131 10,112 155,128 242,371
At 31 January 2023 80,756 5,545 164,621 250,922
Freehold land and buildings: 2024 2023
£ £
Historical cost 87,778 87,778
87,778 87,778
4 Debtors 2024 2023
£ £
Trade debtors - 18,604
Other debtors 140,700 16,600
140,700 35,204
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,247 14,745
Trade creditors 162,161 82,246
Taxation and social security costs 78,984 65,523
Other creditors 72,585 65,264
324,977 227,778
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,243 24,243
14,243 24,243
7 Other information
Havanna Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
290a Ampthill Road
Bedford
MK42 9QL
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