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Registered number: 08419072
Carter Vehicle Movements Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Adders Accountants Ltd
Moulton Park Business Centre
Redhouse Road
Northampton
NN3 6AQ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08419072
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,833 60,833
Tangible Assets 5 12,936 396
63,769 61,229
CURRENT ASSETS
Debtors 6 164,618 143,112
Cash at bank and in hand 197,981 178,188
362,599 321,300
Creditors: Amounts Falling Due Within One Year 7 (138,729 ) (136,963 )
NET CURRENT ASSETS (LIABILITIES) 223,870 184,337
TOTAL ASSETS LESS CURRENT LIABILITIES 287,639 245,566
NET ASSETS 287,639 245,566
CAPITAL AND RESERVES
Called up share capital 8 3 2
Profit and Loss Account 287,636 245,564
SHAREHOLDERS' FUNDS 287,639 245,566
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Chelsea Best
Director
20/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carter Vehicle Movements Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08419072 . The registered office is 58 The Willows , Little Harrowden, Wellingborough, Northamptonshire, NN9 5BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% RB
Computer Equipment 1/3 SL
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 100,000
As at 29 February 2024 100,000
Amortisation
As at 1 March 2023 39,167
Provided during the period 10,000
As at 29 February 2024 49,167
Net Book Value
As at 29 February 2024 50,833
As at 1 March 2023 60,833
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 - 928 928
Additions 13,250 - 13,250
As at 29 February 2024 13,250 928 14,178
Depreciation
As at 1 March 2023 - 532 532
Provided during the period 552 158 710
As at 29 February 2024 552 690 1,242
Net Book Value
As at 29 February 2024 12,698 238 12,936
As at 1 March 2023 - 396 396
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 137,548 130,516
Prepayments and accrued income 26,933 12,596
Net wages 137 -
164,618 143,112
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,848 22,520
Corporation tax 49,128 28,888
VAT 53,164 55,644
Other creditors 508 508
Directors' loan accounts 24,081 29,403
138,729 136,963
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 2
Page 5