Registered number
12471370
Hereford Car and Commercial Services Limited
Filleted Accounts
31 March 2024
Hereford Car and Commercial Services Limited
Registered number: 12471370
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 4,800 9,600
Tangible assets 4 19,805 18,305
24,605 27,905
Current assets
Debtors 5 63,118 57,952
Cash at bank and in hand 253,498 175,388
316,616 233,340
Creditors: amounts falling due within one year 6 (78,245) (58,435)
Net current assets 238,371 174,905
Total assets less current liabilities 262,976 202,810
Provisions for liabilities (6,151) (4,882)
Net assets 256,825 197,928
Capital and reserves
Called up share capital 100 100
Profit and loss account 256,725 197,828
Shareholders' funds 256,825 197,928
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.
J Collingwood
Director
Approved by the board on 29 November 2024
Hereford Car and Commercial Services Limited
Notes to the Accounts
for the year ended 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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 and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 24,000
At 31 March 2024 24,000
Amortisation
At 1 April 2023 14,400
Provided during the year 4,800
At 31 March 2024 19,200
Net book value
At 31 March 2024 4,800
At 31 March 2023 9,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 7,355 19,050 26,405
Additions 952 18,950 19,902
Disposals - (16,750) (16,750)
At 31 March 2024 8,307 21,250 29,557
Depreciation
At 1 April 2023 2,583 5,517 8,100
Charge for the year 859 4,980 5,839
On disposals - (4,187) (4,187)
At 31 March 2024 3,442 6,310 9,752
Net book value
At 31 March 2024 4,865 14,940 19,805
At 31 March 2023 4,772 13,533 18,305
5 Debtors 2024 2023
£ £
Trade debtors 55,230 50,576
Other debtors 7,888 7,376
63,118 57,952
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 25,136 25,151
Taxation and social security costs 51,162 31,501
Other creditors 1,947 1,783
78,245 58,435
7 Other information
Hereford Car and Commercial Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Reynards Close
Rotherwas Industrial Estate
Hereford
HR2 6JH
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