Cab Care Centre Limited


FINANCIAL STATEMENTS


for the year ended 29th February 2024



Cab Care Centre Limited

CONTENTS

for the year ended 29th February 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Cab Care Centre Limited

Company No. 09424215

STATEMENT OF FINANCIAL POSITION

as at 29th February 2024

20242023
Note£££
FIXED ASSETS
Intangible assets45001000
Property, plant and equipment55358933419
5408934419
CURRENT ASSETS
Stocks61660016585
Debtors72821328088
Cash at bank and in hand4714635944
9195980617
CURRENT LIABILITIES
Creditors: amounts falling due
within one year86219165438
NET CURRENT ASSETS2976815179
TOTAL ASSETS LESS CURRENT LIABILITIES8385749598
 
Creditors: amounts falling due
after more than one year9654710157
 
Provisions for liabilities and charges
Deferred taxation971971
 
NET ASSETS7633938470
 
CAPITAL AND RESERVES
Called up share capital22
Retained earnings7633738468
SHAREHOLDERS FUNDS7633938470

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 29th February 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and 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.

Approved by the Board on 30 November 2024


Nicholas Morris

Director

Company Number 09424215 (England)

Cab Care Centre Limited

NOTES TO THE ACCOUNTS

for the year ended 29th February 2024


1   Statutory information

Cab Care Centre Limited is a private company limited by shares and registered under company number 09424215 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, England, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles25% Reducing Balance method

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.

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 all 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. 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.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 3 (2023 - 3).

4   Intangible assets
£
Goodwill
 
Cost
At 1st March 2023 and
At 29th February 20245000
 
Amortisation
At 1st March 2023 and4000
Provided during the year500
At 29th February 20244500
 
Net Book Value
At 29th February 2024500
At 28th February 20231000

Intangible Fixed Assets are being written off in equal annual instalments over each asset's estimated economic life.


5   Property, plant and equipment
 
PlantFixtures
Land andMotorandand
BuildingsVehiclesMachineryFittingsTotal
£££££
Cost
At 1st March 2023 50005165928138-84797
Additions-29163-394333106
At 29th February 2024500080822281383943117903
 
Depreciation
At 1st March 2023 50002260123777-51378
Charge for year-11517109032912936
At 29th February 20245000341182486732964314
 
Net Book Value
At 29th February 2024-467043271361453589
At 28th February 2023-290584361-33419
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 29th February 202411861--11861
At 28th February 202315815--15815

6   Stocks20242023
££
 
Finished goods and goods for resale1660016585
1660016585

The difference between purchase price or production cost of stocks and their replacement cost is not material.


7   Debtors20242023
££
 
Trade Debtors2007019945
Other debtors81438143
2821328088

8   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts2944636147
Obligations under finance lease and hire purchase contracts45134419
Trade Creditors55965467
Taxes and social security costs74564345
Other creditors1518015060
6219165438

9   Creditors: amounts falling due after one year20242023
££
 
Obligations under finance lease and hire purchase contracts654710157
654710157

10   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
Michael Fraser1410014100
1410014100

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