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Registered Number: 08838862
England and Wales

 

 

 

LIKE CAR FINANCE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,172    1,379 
1,172    1,379 
Current assets      
Debtors 15,587    39,373 
Cash at bank and in hand 582    1,284 
16,169    40,657 
Creditors: amount falling due within one year (7,874)   (14,778)
Net current assets 8,295    25,879 
 
Total assets less current liabilities 9,467    27,258 
Creditors: amount falling due after more than one year (9,333)   (13,333)
Net assets 134    13,925 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 34    13,825 
Shareholders' funds 134    13,925 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 10 July 2024 and were signed on its behalf by:


-------------------------------
Claire Howells
Director
1
General Information
Like Car Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 08838862, registration address Suite 5, The Old Chapel Buildmain Business Centre, Atherton, Manchester, M46 9FP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 February 2023 5,885    5,885 
Additions  
Disposals  
At 31 January 2024 5,885    5,885 
Depreciation
At 01 February 2023 4,506    4,506 
Charge for year 207    207 
On disposals  
At 31 January 2024 4,713    4,713 
Net book values
Closing balance as at 31 January 2024 1,172    1,172 
Opening balance as at 01 February 2023 1,379    1,379 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2