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Company Registration No. 14247105 (England and Wales)
Burning Car Ltd Unaudited accounts for the year ended 31 July 2024
Burning Car Ltd Unaudited accounts Contents
Page
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Burning Car Ltd Company Information for the year ended 31 July 2024
Directors
Mr N Cobley Mr J Brodie
Company Number
14247105 (England and Wales)
Registered Office
2 Exeter Street Cottingham East Riding of Yorkshire HU16 4LU United Kingdom
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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Burning Car Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
363 
- 
Current assets
Debtors
1,311 
- 
Cash at bank and in hand
3,758 
9,349 
5,069 
9,349 
Creditors: amounts falling due within one year
(1,997)
(4,561)
Net current assets
3,072 
4,788 
Net assets
3,435 
4,788 
Capital and reserves
Called up share capital
50 
75 
Profit and loss account
3,385 
4,713 
Shareholders' funds
3,435 
4,788 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by
Mr N Cobley Director Company Registration No. 14247105
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Burning Car Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Burning Car Ltd is a private company, limited by shares, registered in England and Wales, registration number 14247105. The registered office is 2 Exeter Street, Cottingham, East Riding of Yorkshire , HU16 4LU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Cost
Computer equipment
25% Cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Burning Car Ltd Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
- 
- 
- 
Additions
77 
294 
371 
At 31 July 2024
77 
294 
371 
Depreciation
Charge for the year
2 
6 
8 
At 31 July 2024
2 
6 
8 
Net book value
At 31 July 2024
75 
288 
363 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
1,311 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
- 
720 
Taxes and social security
1,806 
2,155 
Other creditors
4,940 
- 
Loans from directors
(4,749)
1,686 
1,997 
4,561 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50 
75 
8
Transactions with related parties
As at 31st July 2023 Burning Car Ltd owed Newmeds Entertainment Limited £720.11. This amount is interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 4 (2023: 3).
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