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Registered number: 07055474
Reliable Cars Berkshire Limited
Unaudited Financial Statements
For The Year Ended 31 March 2022
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07055474
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 739 739
739 739
CURRENT ASSETS
Stocks 5 - 49,100
Debtors 6 1,447 451
Cash at bank and in hand 14 14
1,461 49,565
Creditors: Amounts Falling Due Within One Year 7 (11 ) (10 )
NET CURRENT ASSETS (LIABILITIES) 1,450 49,555
TOTAL ASSETS LESS CURRENT LIABILITIES 2,189 50,294
Creditors: Amounts Falling Due After More Than One Year 8 (50,000 ) (50,000 )
NET (LIABILITIES)/ASSETS (47,811 ) 294
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (47,911 ) 194
SHAREHOLDERS' FUNDS (47,811) 294
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For the year ending 31 March 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohamed Fazeel
Director
21/12/2023
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Reliable Cars Berkshire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07055474 . The registered office is 5 Hungerford Drive, Slough, Berkshire, SL2 1LQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% reducing balance
Motor Vehicles 18% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2021: 1)
- 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2021 1,100 4,000 5,100
As at 31 March 2022 1,100 4,000 5,100
Depreciation
As at 1 April 2021 947 3,414 4,361
As at 31 March 2022 947 3,414 4,361
Net Book Value
As at 31 March 2022 153 586 739
As at 1 April 2021 153 586 739
5. Stocks
2022 2021
£ £
Materials - 49,100
6. Debtors
2022 2021
£ £
Due within one year
Director's loan account 1,447 451
1,447 451
7. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 1 -
Corporation tax 10 10
11 10
8. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bounce Back Loan 50,000 50,000
50,000 50,000
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9. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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