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REGISTERED NUMBER: 08310254 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2022 TO 29 NOVEMBER 2023

FOR

PETERBOROUGH CARS LIMITED

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 December 2022 to 29 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETERBOROUGH CARS LIMITED

COMPANY INFORMATION
For The Period 1 December 2022 to 29 November 2023







DIRECTORS: M Naved
S S Sohi





REGISTERED OFFICE: 89 Fengate
Peterborough
Cambridgeshire
PE1 5BA





REGISTERED NUMBER: 08310254 (England and Wales)





ACCOUNTANTS: Vertiqo Peterborough Limited
18 Tesla Court
Innovation Way
Lynchwood
Peterborough
Cambridgeshire
PE2 6FL

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

BALANCE SHEET
29 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,200 12,000
Tangible assets 5 407,302 295,670
418,502 307,670

CURRENT ASSETS
Debtors 6 276,583 244,725
Cash at bank and in hand 31,043 64,845
307,626 309,570
CREDITORS
Amounts falling due within one year 7 327,971 307,339
NET CURRENT (LIABILITIES)/ASSETS (20,345 ) 2,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,157

309,901

CREDITORS
Amounts falling due after more than
one year

8

284,034

208,669
NET ASSETS 114,123 101,232

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

BALANCE SHEET - continued
29 November 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 114,120 101,229
SHAREHOLDERS' FUNDS 114,123 101,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2023 in accordance with Section 476 of the Companies Act 2006.

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 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





S S Sohi - Director


PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 December 2022 to 29 November 2023


1. STATUTORY INFORMATION

Peterborough Cars Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Changes in accounting policies
Depreciation policy on motor vehicles was previously charged at 25% reducing balance has now been changed from 1 Dec 2021 to 15% reducing balance. The basis of the change is to reflect the life term of the assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty five years.

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.

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.
Plant and machinery etc - 15% on reducing balance


PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 29 November 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 18 (2022 - 22 ) .

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 29 November 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 29 November 2023 20,000
AMORTISATION
At 1 December 2022 8,000
Charge for period 800
At 29 November 2023 8,800
NET BOOK VALUE
At 29 November 2023 11,200
At 30 November 2022 12,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 563,973
Additions 180,912
Disposals (86,009 )
At 29 November 2023 658,876
DEPRECIATION
At 1 December 2022 268,303
Charge for period 49,906
Eliminated on disposal (66,635 )
At 29 November 2023 251,574
NET BOOK VALUE
At 29 November 2023 407,302
At 30 November 2022 295,670

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 29 November 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022 266,296
Additions 174,464
Disposals (17,950 )
Transfer to ownership (34,415 )
At 29 November 2023 388,395
DEPRECIATION
At 1 December 2022 71,845
Charge for period 35,380
Eliminated on disposal (6,507 )
Transfer to ownership (21,947 )
At 29 November 2023 78,771
NET BOOK VALUE
At 29 November 2023 309,624
At 30 November 2022 194,451

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 230,364 220,187
Other debtors 46,219 24,538
276,583 244,725

PETERBOROUGH CARS LIMITED (REGISTERED NUMBER: 08310254)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 29 November 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 12,354 10,949
Trade creditors 2,254 393
Taxation and social security 100,883 50,960
Other creditors 212,480 245,037
327,971 307,339

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 48,105 65,188
Hire purchase contracts 235,929 143,481
284,034 208,669