IRIS Accounts Production v24.3.0.553 05064848 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050648482023-03-31050648482024-03-31050648482023-04-012024-03-31050648482022-03-31050648482022-04-012023-03-31050648482023-03-3105064848ns15:EnglandWales2023-04-012024-03-3105064848ns14:PoundSterling2023-04-012024-03-3105064848ns10:Director12023-04-012024-03-3105064848ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105064848ns10:SmallEntities2023-04-012024-03-3105064848ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105064848ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105064848ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105064848ns10:FullAccounts2023-04-012024-03-310506484812023-04-012024-03-3105064848ns10:Director22023-04-012024-03-3105064848ns10:RegisteredOffice2023-04-012024-03-3105064848ns5:CurrentFinancialInstruments2024-03-3105064848ns5:CurrentFinancialInstruments2023-03-3105064848ns5:Non-currentFinancialInstruments2024-03-3105064848ns5:Non-currentFinancialInstruments2023-03-3105064848ns5:ShareCapital2024-03-3105064848ns5:ShareCapital2023-03-3105064848ns5:RetainedEarningsAccumulatedLosses2024-03-3105064848ns5:RetainedEarningsAccumulatedLosses2023-03-3105064848ns5:NetGoodwill2023-04-012024-03-3105064848ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105064848ns5:LandBuildingsns5:ShortLeaseholdAssets2023-04-012024-03-3105064848ns5:LeaseholdImprovements2023-04-012024-03-3105064848ns5:PlantMachinery2023-04-012024-03-3105064848ns5:FurnitureFittings2023-04-012024-03-3105064848ns5:MotorVehicles2023-04-012024-03-3105064848ns5:NetGoodwill2023-03-3105064848ns5:NetGoodwill2024-03-3105064848ns5:NetGoodwill2023-03-3105064848ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-3105064848ns5:LeaseholdImprovements2023-03-3105064848ns5:PlantMachinery2023-03-3105064848ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3105064848ns5:LeaseholdImprovements2024-03-3105064848ns5:PlantMachinery2024-03-3105064848ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-3105064848ns5:LeaseholdImprovements2023-03-3105064848ns5:PlantMachinery2023-03-3105064848ns5:FurnitureFittings2023-03-3105064848ns5:MotorVehicles2023-03-3105064848ns5:FurnitureFittings2024-03-3105064848ns5:MotorVehicles2024-03-3105064848ns5:FurnitureFittings2023-03-3105064848ns5:MotorVehicles2023-03-3105064848ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3105064848ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 05064848 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Peter Nash Specialist Cars Limited

Peter Nash Specialist Cars Limited (Registered number: 05064848)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Peter Nash Specialist Cars Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S Nash
Mr M Nash





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 05064848 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Peter Nash Specialist Cars Limited (Registered number: 05064848)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 76,949 78,510
76,949 78,510

CURRENT ASSETS
Inventories 616,693 731,532
Debtors 6 289,638 201,704
Cash at bank and in hand 2,944 120,426
909,275 1,053,662
CREDITORS
Amounts falling due within one year 7 (699,522 ) (806,971 )
NET CURRENT ASSETS 209,753 246,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,702

325,201

CREDITORS
Amounts falling due after more than one
year

8

(12,404

)

(21,702

)

PROVISIONS FOR LIABILITIES (15,274 ) (14,405 )
NET ASSETS 259,024 289,094

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 258,024 288,094
SHAREHOLDERS' FUNDS 259,024 289,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Peter Nash Specialist Cars Limited (Registered number: 05064848)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr S Nash - Director


Peter Nash Specialist Cars Limited (Registered number: 05064848)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Peter Nash Specialist 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.

Turnover
Revenue 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 2017, is being amortised evenly over its estimated useful life of six 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.
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 10% - 25% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

Peter Nash Specialist Cars Limited (Registered number: 05064848)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 6,831 15,500 81,284
Additions - - 3,447
Disposals - - -
At 31 March 2024 6,831 15,500 84,731
DEPRECIATION
At 1 April 2023 2,277 6,200 61,150
Charge for year 683 1,550 7,120
Eliminated on disposal - - -
At 31 March 2024 2,960 7,750 68,270
NET BOOK VALUE
At 31 March 2024 3,871 7,750 16,461
At 31 March 2023 4,554 9,300 20,134

Peter Nash Specialist Cars Limited (Registered number: 05064848)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 38,194 46,800 188,609
Additions 4,778 21,350 29,575
Disposals - (23,000 ) (23,000 )
At 31 March 2024 42,972 45,150 195,184
DEPRECIATION
At 1 April 2023 22,097 18,375 110,099
Charge for year 6,358 5,175 20,886
Eliminated on disposal - (12,750 ) (12,750 )
At 31 March 2024 28,455 10,800 118,235
NET BOOK VALUE
At 31 March 2024 14,517 34,350 76,949
At 31 March 2023 16,097 28,425 78,510

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 226,681 145,220
Other debtors 62,957 56,484
289,638 201,704

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 99,155 91,664
Taxation and social security 93,337 103,139
Other creditors 507,030 612,168
699,522 806,971

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,404 21,702