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BLUE CORNER CARS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29TH FEBRUARY 2024






BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

BLUE CORNER CARS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTOR: B D Tomkins





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate, Kempston
Bedford
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 07156971 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

BALANCE SHEET
29TH FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,040 5,670
Tangible assets 5 104,816 88,201
109,856 93,871

CURRENT ASSETS
Debtors 6 64,335 19,222
Cash at bank and in hand 18,899 27,333
83,234 46,555
CREDITORS
Amounts falling due within one year 7 148,069 112,462
NET CURRENT LIABILITIES (64,835 ) (65,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,021

27,964

CREDITORS
Amounts falling due after more than one
year

8

(40,120

)

(24,738

)

PROVISIONS FOR LIABILITIES (4,443 ) -
NET ASSETS 458 3,226

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 358 3,126
SHAREHOLDERS' FUNDS 458 3,226

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29th 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.

BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th November 2024 and were signed by:





B D Tomkins - Director


BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Blue Corner 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover
Turnover for the year represents the following, stated net of value added tax:

- private hire fares receivable.
- car hire.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Licences Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 13,300 4,000 17,300
AMORTISATION
At 1st March 2023 7,630 4,000 11,630
Amortisation for year 630 - 630
At 29th February 2024 8,260 4,000 12,260
NET BOOK VALUE
At 29th February 2024 5,040 - 5,040
At 28th February 2023 5,670 - 5,670

BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st March 2023 16,170 124,221 6,883 147,274
Additions - 41,716 1,498 43,214
Disposals - (3,750 ) - (3,750 )
At 29th February 2024 16,170 162,187 8,381 186,738
DEPRECIATION
At 1st March 2023 9,591 44,478 5,004 59,073
Charge for year 986 21,426 1,141 23,553
Eliminated on disposal - (704 ) - (704 )
At 29th February 2024 10,577 65,200 6,145 81,922
NET BOOK VALUE
At 29th February 2024 5,593 96,987 2,236 104,816
At 28th February 2023 6,579 79,743 1,879 88,201

The net book value of tangible fixed assets includes £ 35,938 (2023 - £ 7,656 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 39,250 3,950
Other debtors 313 14,690
Directors' current accounts 23,939 -
Prepayments 833 582
64,335 19,222

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 10,183 9,932
Hire purchase contracts 7,484 6,216
Trade creditors 7,013 7,892
Corporation tax 2,048 9,471
Social security and other taxes 2,015 1,925
Pension fund 989 1,600
VAT 108,247 72,215
Other creditors 10,090 -
Net wages outstanding - 1,997
Directors' current accounts - 1,214
148,069 112,462

BLUE CORNER CARS LTD (REGISTERED NUMBER: 07156971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 13,091 23,274
Hire purchase contracts 27,029 1,464
40,120 24,738

9. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Hire purchase contracts 34,513 7,680

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 ORDINARY £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

29/2/24 28/2/23
£    £   
B D Tomkins
Balance outstanding at start of year - -
Amounts advanced 23,939 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,939 -

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BLUE CORNER CARS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blue Corner Cars Ltd for the year ended 29th February 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Blue Corner Cars Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blue Corner Cars Ltd and state those matters that we have agreed to state to the director of Blue Corner Cars Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Corner Cars Ltd and its director for our work or for this report.

It is your duty to ensure that Blue Corner Cars Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Blue Corner Cars Ltd. You consider that Blue Corner Cars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Blue Corner Cars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


25th November 2024