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COMPANY REGISTRATION NUMBER: 14670975
Car Love Heart Ltd
Filleted Unaudited Financial Statements
29 February 2024
Car Love Heart Ltd
Statement of Financial Position
29 February 2024
29 Feb 24
Note
£
Current assets
Stocks
16,127
Debtors
5
4,645
Cash at bank and in hand
8,598
--------
29,370
Creditors: amounts falling due within one year
6
96,363
--------
Net current liabilities
66,993
--------
Total assets less current liabilities
( 66,993)
--------
Net liabilities
( 66,993)
--------
Capital and reserves
Called up share capital
100
Profit and loss account
( 67,093)
--------
Shareholders deficit
( 66,993)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
Mr. A. Hafezjee
Director
Company registration number: 14670975
Car Love Heart Ltd
Notes to the Financial Statements
Period from 17 February 2023 to 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has considered the trading results and performance and is confident that the company will continue to trade for the following twelve months from the date of this report. He has also confirmed that he will continue to support the company over this period.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Debtors
29 Feb 24
£
Trade debtors
2,089
Other debtors
2,556
-------
4,645
-------
6. Creditors: amounts falling due within one year
29 Feb 24
£
Trade creditors
225
Other creditors
96,138
--------
96,363
--------