Pendle Car Centre Limited 05327120 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Sale Of Motor Vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 05327120 2023-03-01 2024-02-29 05327120 2024-02-29 05327120 bus:CompanySecretaryDirector1 1 2024-02-29 05327120 bus:OrdinaryShareClass1 2024-02-29 05327120 core:RetainedEarningsAccumulatedLosses 2024-02-29 05327120 core:ShareCapital 2024-02-29 05327120 core:CurrentFinancialInstruments 2024-02-29 05327120 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 05327120 core:Non-currentFinancialInstruments 2024-02-29 05327120 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 05327120 core:FurnitureFittingsToolsEquipment 2024-02-29 05327120 bus:SmallEntities 2023-03-01 2024-02-29 05327120 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05327120 bus:FullAccounts 2023-03-01 2024-02-29 05327120 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05327120 bus:RegisteredOffice 2023-03-01 2024-02-29 05327120 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 05327120 bus:CompanySecretaryDirector1 1 2023-03-01 2024-02-29 05327120 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 05327120 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05327120 core:FurnitureFittings 2023-03-01 2024-02-29 05327120 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 05327120 countries:EnglandWales 2023-03-01 2024-02-29 05327120 2023-02-28 05327120 core:FurnitureFittingsToolsEquipment 2023-02-28 05327120 2022-03-01 2023-02-28 05327120 2023-02-28 05327120 bus:CompanySecretaryDirector1 1 2023-02-28 05327120 bus:OrdinaryShareClass1 2023-02-28 05327120 core:RetainedEarningsAccumulatedLosses 2023-02-28 05327120 core:ShareCapital 2023-02-28 05327120 core:CurrentFinancialInstruments 2023-02-28 05327120 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 05327120 core:Non-currentFinancialInstruments 2023-02-28 05327120 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 05327120 core:FurnitureFittingsToolsEquipment 2023-02-28 05327120 bus:CompanySecretaryDirector1 1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05327120

Pendle Car Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Pendle Car Centre Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Pendle Car Centre Limited

Company Information

Director

Mr Shokat Malik

Company secretary

Mr Shokat Malik

Registered office

Ground Floor Unit 8, Vantage Court
Riverside Way
Barrowford
Nelson
Lancashire
BB9 6BP

Accountants

Hughes Accountants Limited
AAT Qualified Accountant
Ground Floor Unit 8, Vantage Court
Riverside Way
Barrowford
Nelson
Lancashire
BB9 6BP

 

Pendle Car Centre Limited

(Registration number: 05327120)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,732

1,607

Current assets

 

Stocks

5

64,216

45,200

Debtors

6

21,077

20,699

Cash at bank and in hand

 

218,003

232,575

 

303,296

298,474

Creditors: Amounts falling due within one year

7

(65,886)

(32,318)

Net current assets

 

237,410

266,156

Total assets less current liabilities

 

242,142

267,763

Creditors: Amounts falling due after more than one year

7

(96,310)

(132,019)

Provisions for liabilities

(152)

(152)

Net assets

 

145,680

135,592

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

145,678

135,590

Shareholders' funds

 

145,680

135,592

For the financial year 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 November 2024
 

 

Pendle Car Centre Limited

(Registration number: 05327120)
Balance Sheet as at 29 February 2024

.........................................
Mr Shokat Malik
Company secretary and director

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor Unit 8, Vantage Court
Riverside Way
Barrowford
Nelson
Lancashire
BB9 6BP
England and Wales

The principal place of business is:
1-5 Rakeshouse Road
Nelson
Lancashire
BB9 8RJ
England and Wales

These financial statements were authorised for issue by the director on 13 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 2).

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

13,359

13,359

Additions

4,702

4,702

At 29 February 2024

18,061

18,061

Depreciation

At 1 March 2023

11,752

11,752

Charge for the year

1,577

1,577

At 29 February 2024

13,329

13,329

Carrying amount

At 29 February 2024

4,732

4,732

At 28 February 2023

1,607

1,607

5

Stocks

2024
£

2023
£

Other inventories

64,216

45,200

6

Debtors

Current

2024
£

2023
£

Trade debtors

(300)

-

Prepayments

2,602

1,861

Other debtors

18,775

18,838

 

21,077

20,699

7

Creditors

Creditors: amounts falling due within one year

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

38,260

6,618

Trade creditors

 

5,519

2,171

Taxation and social security

 

5,955

9,744

Accruals and deferred income

 

1,470

11,205

Other creditors

 

14,682

2,580

 

65,886

32,318

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

96,310

132,019

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

37,228

Other borrowings

96,310

94,791

96,310

132,019

2024
£

2023
£

Current loans and borrowings

Bank borrowings

38,260

6,618

10

Related party transactions

 

Pendle Car Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Transactions with the director

2024

Repayments by director
£

At 29 February 2024
£

Mr Shokat Malik

Current Account

(1,519)

(84,328)

 

(1,519)

(96,310)

   

 

2023

Repayments by director
£

At 28 February 2023
£

Mr Shokat Malik

Current Account

(83,134)

(82,809)

 

(83,134)

(94,791)