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Registered Number: 06173153
England and Wales

 

 

 

DRIVEN CAR COLLECTION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2022
£
Fixed assets      
Tangible fixed assets 3 443   
443   
Current assets      
Stocks 591,836    334,756 
Debtors 174,089    126,508 
Cash at bank and in hand 318,319    283,557 
1,084,244    744,821 
Creditors: amount falling due within one year (475,760)   (290,735)
Net current assets 608,484    454,086 
 
Total assets less current liabilities 608,927    454,086 
Creditors: amount falling due after more than one year (21,631)   (34,143)
Net assets 587,296    419,943 
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 587,295    419,942 
Shareholders' funds 587,296    419,943 
 


For the period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 October 2024 and were signed by:


-------------------------------
Mr Justin Price
Director
1
General Information
Driven Car Collection Ltd is a private company, limited by shares, registered in England and Wales, registration number 06173153, registration address Broadmoor Road, Waltham Saint Lawrence, Reading, RG10 0HX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2023  
Additions 589    589 
Disposals  
At 31 March 2024 589    589 
Depreciation
At 01 January 2023  
Charge for period 146    146 
On disposals  
At 31 March 2024 146    146 
Net book values
Closing balance as at 31 March 2024 443    443 
Opening balance as at 01 January 2023  


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2022
£
1 Class A share of £1.00 each  
 

2