Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2truefalse2023-02-08No description of principal activityfalse 14649759 2023-02-07 14649759 2023-02-08 2024-02-28 14649759 2022-03-01 2023-02-07 14649759 2024-02-28 14649759 c:Director1 2023-02-08 2024-02-28 14649759 d:CurrentFinancialInstruments 2024-02-28 14649759 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 14649759 d:ShareCapital 2024-02-28 14649759 d:RetainedEarningsAccumulatedLosses 2024-02-28 14649759 c:FRS102 2023-02-08 2024-02-28 14649759 c:AuditExempt-NoAccountantsReport 2023-02-08 2024-02-28 14649759 c:FullAccounts 2023-02-08 2024-02-28 14649759 c:PrivateLimitedCompanyLtd 2023-02-08 2024-02-28 14649759 e:PoundSterling 2023-02-08 2024-02-28 iso4217:GBP xbrli:pure

Registered number: 14649759










THE LITTLE FIGARO CAR COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2024

 
THE LITTLE FIGARO CAR COMPANY LIMITED
REGISTERED NUMBER: 14649759

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
Note
£

  

Current assets
  

Stocks
  
11,600

Debtors: amounts falling due within one year
  
2,833

Cash at bank and in hand
 5 
3,213

  
17,646

Creditors: amounts falling due within one year
  
(23,523)

Net current (liabilities)/assets
  
 
 
(5,877)

Total assets less current liabilities
  
(5,877)

  

Net (liabilities)/assets
  
(5,877)


Capital and reserves
  

Called up share capital 
  
10

Profit and loss account
  
(5,887)

  
(5,877)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 November 2024.




C Bullock
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
THE LITTLE FIGARO CAR COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

1.


General information

The Little Figaro Car Company Limited is a private company, limited by shares, domiciled in England and Wales, registration number 14649759. The registered office is Kingsridge House, 601 London Road, Westcliff on Sea, Essex SS0 9PE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company had a deficit on shareholders' funds at 28 February 2024 of £5,877. However, the directors are of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of this factor, the directors consider it appropriate to adopt the going concern basis in preparation of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
THE LITTLE FIGARO CAR COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2024
£


Prepayments and accrued income
2,833


Page 3

 
THE LITTLE FIGARO CAR COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
3,213



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
800

Other creditors
19,288

Accruals and deferred income
3,435

23,523



Page 4