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Company Registration No. 05674939 (England and Wales)
RSD Cars Limited Unaudited accounts for the year ended 31 March 2024
RSD Cars Limited Unaudited accounts Contents
Page
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RSD Cars Limited Company Information for the year ended 31 March 2024
Director
Raman Dhillon
Company Number
05674939 (England and Wales)
Registered Office
8 PINNER VIEW HARROW MIDDLESEX HA1 4QA
Accountants
A J Shah and Company 8 Pinner View Harrow Middlesex HA1 4QA
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of RSD Cars Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RSD Cars Limited for the year ended 31 March 2024 as set out on pages 5 - 7 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of RSD Cars Limited, as a body, in accordance with the terms of our engagement letter dated 13 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of RSD Cars Limited and state those matters that we have agreed to state to the Board of Directors of RSD Cars Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RSD Cars Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that RSD Cars Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of RSD Cars Limited. You consider that RSD Cars Limited 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 accounts of RSD Cars Limited. 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 accounts.
A J Shah and Company Chartered Accountants 8 Pinner View Harrow Middlesex HA1 4QA 16 October 2024
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RSD Cars Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,523,575 
895,680 
Investments
39,743 
39,743 
1,563,318 
935,423 
Current assets
Inventories
2,332,105 
3,785,887 
Debtors
44,081 
234,713 
Cash at bank and in hand
(49,078)
135,146 
2,327,108 
4,155,746 
Creditors: amounts falling due within one year
(3,897,884)
(5,244,692)
Net current liabilities
(1,570,776)
(1,088,946)
Total assets less current liabilities
(7,458)
(153,523)
Creditors: amounts falling due after more than one year
(300,869)
(270,651)
Net liabilities
(308,327)
(424,174)
Capital and reserves
Called up share capital
50,000 
50,000 
Profit and loss account
(358,327)
(474,174)
Shareholders' funds
(308,327)
(424,174)
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 14 November 2024 and were signed on its behalf by
Raman Dhillon Director Company Registration No. 05674939
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RSD Cars Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
RSD Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 05674939. The registered office is 8 PINNER VIEW, HARROW, MIDDLESEX, HA1 4QA.
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.
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: The Bank loan is secured against Unit 7 and7A Moor Park Industrial Centre ,Tolpits Lane. Watford
Plant & machinery
20%
Motor vehicles
20%
Fixtures & fittings
20%
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
893,690 
2,212 
895,902 
Additions
617,169 
13,960 
631,129 
At 31 March 2024
1,510,859 
16,172 
1,527,031 
Depreciation
At 1 April 2023
- 
222 
222 
Charge for the year
- 
3,234 
3,234 
At 31 March 2024
- 
3,456 
3,456 
Net book value
At 31 March 2024
1,510,859 
12,716 
1,523,575 
At 31 March 2023
893,690 
1,990 
895,680 
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RSD Cars Limited Notes to the Accounts for the year ended 31 March 2024
5
Investments
Other investments 
£ 
Valuation at 1 April 2023
39,743 
Valuation at 31 March 2024
39,743 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
(11,113)
149,045 
Trade debtors
(17,927)
9,212 
Accrued income and prepayments
- 
20,735 
Other debtors
73,121 
55,721 
44,081 
234,713 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
566,363 
587,208 
Obligations under finance leases and hire purchase contracts
247,598 
157,316 
Trade creditors
380,856 
1,076,805 
Taxes and social security
1,232 
938 
Other creditors
- 
1,030,819 
Loans from directors
2,712,779 
2,383,596 
Accruals
(10,944)
8,010 
3,897,884 
5,244,692 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
300,681 
270,463 
Other creditors
188 
188 
300,869 
270,651 
Loan is Secured against the cars and Fixed Assets
9
Loans to directors
Amounts due to directors at the balance sheet date is(£ 2,639,658 credit balance (2023: £2,337,875 credit balance ). The balance arose as a series of small loans.During the period expenses were paid by the director on behalf of the business and were subsequently reimbursed.
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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