REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
R S CAR SALES HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
R S CAR SALES HOLDINGS LIMITED |
R S CAR SALES HOLDINGS LIMITED (REGISTERED NUMBER: 13976099) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
R S CAR SALES HOLDINGS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
R S CAR SALES HOLDINGS LIMITED (REGISTERED NUMBER: 13976099) |
BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
R S CAR SALES HOLDINGS LIMITED (REGISTERED NUMBER: 13976099) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
R S Car Sales Holdings Limited is a private company limited by share capital, incorporated in England and Wales, registration number 13976099. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business is 403 Groby Road, Crewe, Cheshire, CW1 4PE. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of consideration received or receivable for rental income received from properties, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from a contract to provide services is recognised in the period in which the services are provided. |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
Other debtors |
Other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
Additions |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
As at 31st July 2024, the directors deem the valuation of investment property to be a fair reflection of its market value. |
R S CAR SALES HOLDINGS LIMITED (REGISTERED NUMBER: 13976099) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 494,600 | 507,214 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by a charge dated 9 November 2022. |
A fixed and floating charge dated 4 July 2022 is also secured over all the assets of the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 100 | 100 |
Ordinary C | £1 | 1 | 1 |
Ordinary D | £1 | 1 | 1 |
202 | 202 |
10. | RELATED PARTY DISCLOSURES |
Within Other creditors is an interest free loan from an entity under common control amounting to £549,648 (2023 - £382,150). |
During the year the company received income of £49,539 (2023 - £47,397) from a company under common control. |
R S CAR SALES HOLDINGS LIMITED (REGISTERED NUMBER: 13976099) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2024 |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are R Anderson and T Cheung by virtue of their majority shareholding in the |
business. |