5 6 January 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08440160 2023-04-01 2024-03-31 08440160 2024-03-31 08440160 2023-03-31 08440160 2022-04-01 2023-03-31 08440160 2023-03-31 08440160 2022-03-31 08440160 core:MotorVehicles 2023-04-01 2024-03-31 08440160 bus:Director4 2023-04-01 2024-03-31 08440160 core:MotorVehicles 2023-03-31 08440160 core:MotorVehicles 2024-03-31 08440160 core:WithinOneYear 2024-03-31 08440160 core:WithinOneYear 2023-03-31 08440160 core:ShareCapital 2024-03-31 08440160 core:ShareCapital 2023-03-31 08440160 core:RetainedEarningsAccumulatedLosses 2024-03-31 08440160 core:RetainedEarningsAccumulatedLosses 2023-03-31 08440160 core:MotorVehicles 2023-03-31 08440160 bus:SmallEntities 2023-04-01 2024-03-31 08440160 bus:Audited 2023-04-01 2024-03-31 08440160 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08440160 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08440160 bus:FullAccounts 2023-04-01 2024-03-31 08440160 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08440160 core:FurnitureFittingsToolsEquipment 2024-03-31 08440160 core:FurnitureFittingsToolsEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 08440160
District Cars Meco Ltd
Filleted Financial Statements
31 March 2024
District Cars Meco Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,433
3,243
Current assets
Debtors
6
336,346
376,404
Cash at bank and in hand
44,819
29,608
---------
---------
381,165
406,012
Creditors: amounts falling due within one year
7
65,577
114,542
---------
---------
Net current assets
315,588
291,470
---------
---------
Total assets less current liabilities
318,021
294,713
---------
---------
Net assets
318,021
294,713
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
317,921
294,613
---------
---------
Shareholders funds
318,021
294,713
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 6 January 2025 , and are signed on behalf of the board by:
Mr A Puri
Director
Company registration number: 08440160
District Cars Meco Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, Essex, IG4 5ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of services is recognised at the time of rendering the service.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 16 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
16,479
3,144
19,623
--------
-------
--------
Depreciation
At 1 April 2023
13,545
2,835
16,380
Charge for the year
733
77
810
--------
-------
--------
At 31 March 2024
14,278
2,912
17,190
--------
-------
--------
Carrying amount
At 31 March 2024
2,201
232
2,433
--------
-------
--------
At 31 March 2023
2,934
309
3,243
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
30,122
101,749
Amounts owed by group undertakings and undertakings in which the company has a participating interest
300,014
264,195
Other debtors
6,210
10,460
---------
---------
336,346
376,404
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,927
378
Corporation tax
34,486
26,838
Social security and other taxes
4,925
18,509
Other creditors
21,239
68,817
--------
---------
65,577
114,542
--------
---------
8. Summary audit opinion
The auditor's report dated 6 January 2025 was unqualified .
The senior statutory auditor was Rajnikant Patel , for and on behalf of Rawi & Co Associates Ltd .
9. Controlling party
The company is a subsidiary of Meco Maitha Limited , a company incorporated in England. Mr A and Mrs M Puri are the ultimate controlling party by virtue of their controlling interest (100%) of the issued share capital of Meco Maitha Limited.