Registered number
12476091
HOLLYWOOD MOTORS LTD
Report and Accounts
29 February 2024
HOLLYWOOD MOTORS LTD
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Notes to the accounts 5
HOLLYWOOD MOTORS LTD
Company Information
Directors
Mohammed Asif
Accountants
S & M Accountants
290 Keighley Road
Frizinghall
Bradford
West Yorkshire
BD9 4LH
Registered office
3 Thornbury Crescent
Bradford
West Yorkshire
BD3 8HB
Registered number
12476091
HOLLYWOOD MOTORS LTD
Registered number: 12476091
Directors' Report
The directors present their report and accounts for the year ended 29 February 2024.
Principal activities
The company's principal activity during the year continued to be …
Directors
The following persons served as directors during the year:
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 25 November 2024 and signed on its behalf.
Mohammed Asif
Director
HOLLYWOOD MOTORS LTD
Profit and Loss Account
for the year ended 29 February 2024
2024 2023
£ £
Turnover 950,507 1,168,224
Cost of sales (834,387) (1,074,609)
Gross profit 116,120 93,615
Administrative expenses (103,150) (79,369)
Operating profit 12,970 14,246
Profit before taxation 12,970 14,246
Tax on profit (2,464) (2,707)
Profit for the financial year 10,506 11,539
HOLLYWOOD MOTORS LTD
Registered number: 12476091
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Stocks 108,020 120,520
Cash at bank and in hand 23,742 3,468
131,762 123,988
Creditors: amounts falling due within one year 3 (53,231) (45,963)
Net current assets 78,531 78,025
Total assets less current liabilities 78,531 78,025
Creditors: amounts falling due after more than one year 4 (22,500) (33,500)
Net assets 56,031 44,525
Capital and reserves
Called up share capital 2 2
Profit and loss account 56,029 44,523
Shareholders' funds 56,031 44,525
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohammed Asif
Director
Approved by the board on 25 November 2024
HOLLYWOOD MOTORS LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 31,250 21,820
Taxation and social security costs 21,981 23,943
Other creditors - 200
53,231 45,963
4 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,500 33,500
5 Other information
HOLLYWOOD MOTORS LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Thornbury Crescent
Bradford
West Yorkshire
BD3 8HB
HOLLYWOOD MOTORS LTD 12476091 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 12476091 2022-03-01 2023-02-28 12476091 core:WithinOneYear 2023-02-28 12476091 core:AfterOneYear 2023-02-28 12476091 core:ShareCapital 2023-02-28 12476091 core:RetainedEarningsAccumulatedLosses 2023-02-28 12476091 2023-03-01 2024-02-29 12476091 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12476091 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12476091 bus:Director1 2023-03-01 2024-02-29 12476091 1 2023-03-01 2024-02-29 12476091 2 2023-03-01 2024-02-29 12476091 countries:England 2023-03-01 2024-02-29 12476091 bus:FRS102 2023-03-01 2024-02-29 12476091 bus:FullAccounts 2023-03-01 2024-02-29 12476091 2024-02-29 12476091 core:WithinOneYear 2024-02-29 12476091 core:AfterOneYear 2024-02-29 12476091 core:ShareCapital 2024-02-29 12476091 core:RetainedEarningsAccumulatedLosses 2024-02-29 12476091 2023-02-28 iso4217:GBP xbrli:pure