Domino Cars Limited 01905201 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of motor vehicle catalogue dealers. Digita Accounts Production Advanced 6.30.9574.0 true 01905201 2023-04-01 2024-03-31 01905201 2024-03-31 01905201 core:RetainedEarningsAccumulatedLosses 2024-03-31 01905201 core:ShareCapital 2024-03-31 01905201 core:CurrentFinancialInstruments 2024-03-31 01905201 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01905201 core:FurnitureFittings 2024-03-31 01905201 core:OfficeEquipment 2024-03-31 01905201 core:PlantMachinery 2024-03-31 01905201 bus:SmallEntities 2023-04-01 2024-03-31 01905201 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01905201 bus:FullAccounts 2023-04-01 2024-03-31 01905201 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01905201 bus:RegisteredOffice 2023-04-01 2024-03-31 01905201 bus:Director1 2023-04-01 2024-03-31 01905201 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01905201 core:FurnitureFittings 2023-04-01 2024-03-31 01905201 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 01905201 core:OfficeEquipment 2023-04-01 2024-03-31 01905201 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 01905201 core:PlantMachinery 2023-04-01 2024-03-31 01905201 countries:EnglandWales 2023-04-01 2024-03-31 01905201 2023-03-31 01905201 core:FurnitureFittings 2023-03-31 01905201 core:OfficeEquipment 2023-03-31 01905201 core:PlantMachinery 2023-03-31 01905201 2022-04-01 2023-03-31 01905201 2023-03-31 01905201 core:RetainedEarningsAccumulatedLosses 2023-03-31 01905201 core:ShareCapital 2023-03-31 01905201 core:CurrentFinancialInstruments 2023-03-31 01905201 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01905201 core:FurnitureFittings 2023-03-31 01905201 core:OfficeEquipment 2023-03-31 01905201 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 01905201

Domino Cars Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Domino Cars Limited

(Registration number: 01905201)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

706

939

Current assets

 

Stocks

5

22,095

35,069

Debtors

6

697

184

Cash at bank and in hand

 

10,405

7,873

 

33,197

43,126

Creditors: Amounts falling due within one year

7

(32,457)

(38,396)

Net current assets

 

740

4,730

Total assets less current liabilities

 

1,446

5,669

Provisions for liabilities

(133)

(178)

Net assets

 

1,313

5,491

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

313

4,491

Shareholders' funds

 

1,313

5,491

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

 

Domino Cars Limited

(Registration number: 01905201)
Statement of Financial Position as at 31 March 2024

Approved and authorised by the director on 11 October 2024
 

.........................................
Mr A Currie
Director

 

Domino Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of merchandise in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Domino Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Plant and Equipment

25% reducing balance

Fixtures and Fittings

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of goods and merchandise comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Domino Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

3,272

882

3,541

7,695

At 31 March 2024

3,272

882

3,541

7,695

Depreciation

At 1 April 2023

3,267

878

2,611

6,756

Charge for the year

-

-

233

233

At 31 March 2024

3,267

878

2,844

6,989

Carrying amount

At 31 March 2024

5

4

697

706

At 31 March 2023

5

4

930

939

5

Stocks

2024
£

2023
£

Merchandise

22,095

35,069

6

Debtors

2024
£

2023
£

Trade debtors

164

184

Prepayments

533

-

697

184

 

Domino Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

3,667

2,156

Taxation and social security

3,734

2,903

Accruals and deferred income

3,513

3,313

Other creditors

21,543

30,024

32,457

38,396