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Registered number: 07591764
Paddock Car Sales Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Trek Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07591764
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 632 771
632 771
CURRENT ASSETS
Stocks 5 4,225 4,225
4,225 4,225
Creditors: Amounts Falling Due Within One Year 6 (1,583 ) (1,427 )
NET CURRENT ASSETS (LIABILITIES) 2,642 2,798
TOTAL ASSETS LESS CURRENT LIABILITIES 3,274 3,569
Creditors: Amounts Falling Due After More Than One Year 7 (19,444 ) (19,444 )
NET LIABILITIES (16,170 ) (15,875 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (16,171 ) (15,876 )
SHAREHOLDERS' FUNDS (16,170) (15,875)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Dummelow
Director
28th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paddock Car Sales Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07591764 . The registered office is Suite 2 The Barbican Centre Lustleigh Close, Marsh Barton Trading Estate, Exeter, Devon, EX2 8PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20%
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 May 2023 3,500
As at 30 April 2024 3,500
Depreciation
As at 1 May 2023 2,729
Provided during the period 139
As at 30 April 2024 2,868
Net Book Value
As at 30 April 2024 632
As at 1 May 2023 771
5. Stocks
2024 2023
£ £
Materials 4,225 4,225
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 213 213
Accruals and deferred income 312 156
Director's loan account 1,058 1,058
1,583 1,427
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,444 19,444
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4