Registered number
10405395
Fab Cars & Vans Ltd
Filleted Accounts
31 October 2023
Fab Cars & Vans Ltd
Registered number: 10405395
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 - -
- -
Current assets
Stocks - 10,000
Debtors 3 5,697 -
Cash at bank and in hand 7,145 19,545
12,842 29,545
Creditors: amounts falling due within one year 4 (2,854) (5,217)
Net current assets 9,988 24,328
Total assets less current liabilities 9,988 24,328
Creditors: amounts falling due after more than one year 5 (95,968) (100,466)
Net liabilities (85,980) (76,138)
Capital and reserves
Called up share capital 10 10
Profit and loss account (85,990) (76,148)
Shareholders' funds (85,980) (76,138)
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 Tauseef Ahmed
Director
Approved by the board on 28 October 2024
Fab Cars & Vans Ltd
Notes to the Accounts
for the year ended 31 October 2023
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).
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:
Plant and machinery 18% pa
Fixtures, fittings, tools and equipment 18% pa
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 - - - -
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 31 October 2023 - - - -
Depreciation
At 1 November 2022 - - - -
Charge for the year - - - -
Surplus on revaluation - - - -
On disposals - - - -
At 31 October 2023 - - - -
Net book value
At 31 October 2023 - - - -
At 31 October 2022 - - - -
3 Debtors 2023 2022
£ £
Trade debtors 5,697 -
Other debtors - -
5,697 -
Amounts due after more than one year included above - -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 3,645
Taxation and social security costs 2,854 1,572
Other creditors - -
2,854 5,217
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,854 33,000
Director's Loan 70,114 67,466
Trade creditors - -
Other creditors - -
95,968 100,466
6 Other information
Fab Cars & Vans Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Loisine Close
Rochdale
OL11 3PF
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