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REGISTERED NUMBER: 09195676 (England and Wales)















BRIDGNORTH CARS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






BRIDGNORTH CARS LTD (REGISTERED NUMBER: 09195676)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRIDGNORTH CARS LTD

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTOR: Mr A J Allen





REGISTERED OFFICE: 7 Hazledine Way
Bridgnorth
Shropshire
WV16 5AE





REGISTERED NUMBER: 09195676 (England and Wales)





ACCOUNTANTS: Wallace Crooke
College House
St Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

BRIDGNORTH CARS LTD (REGISTERED NUMBER: 09195676)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,316 1,289

CURRENT ASSETS
Stocks 6,480 9,750
Debtors 5 34 -
Cash at bank 3,916 15,014
10,430 24,764
CREDITORS
Amounts falling due within one year 6 18,026 25,722
NET CURRENT LIABILITIES (7,596 ) (958 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,280

)

331

PROVISIONS FOR LIABILITIES 7 - 245
NET (LIABILITIES)/ASSETS (5,280 ) 86

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings (5,290 ) 76
SHAREHOLDERS' FUNDS (5,280 ) 86

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:



Mr A J Allen - Director


BRIDGNORTH CARS LTD (REGISTERED NUMBER: 09195676)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Bridgnorth Cars Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This may not be appropriate because at 29th February 2024 the company's liabilities exceeded its assets by £5,280. The Directors however believe that with the ongoing support of the company's shareholder, that it is appropriate to prepare the financial statements on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BRIDGNORTH CARS LTD (REGISTERED NUMBER: 09195676)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1 March 2023 3,901
Additions 1,799
At 29 February 2024 5,700
DEPRECIATION
At 1 March 2023 2,612
Charge for year 772
At 29 February 2024 3,384
NET BOOK VALUE
At 29 February 2024 2,316
At 28 February 2023 1,289

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 34 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,038 1,519
Taxation and social security - 230
Other creditors 11,988 23,973
18,026 25,722

BRIDGNORTH CARS LTD (REGISTERED NUMBER: 09195676)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 245

Deferred
tax
£   
Balance at 1 March 2023 245
Provided during year (245 )
Balance at 29 February 2024 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10