COMPANY REGISTRATION NUMBER:
02666628
Filleted Financial Statements |
|
Statement of Financial Position |
|
30 April 2024
Current assets
Debtors |
4 |
716,867 |
|
889,080 |
Cash at bank and in hand |
521,575 |
|
290,535 |
|
------------ |
|
------------ |
|
1,238,442 |
|
1,179,615 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
498,014 |
|
498,136 |
|
------------ |
|
------------ |
Net current assets |
|
740,428 |
681,479 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
740,428 |
681,479 |
|
|
--------- |
--------- |
Net assets |
|
740,428 |
681,479 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2 |
2 |
Profit and loss account |
|
740,426 |
681,477 |
|
|
--------- |
--------- |
Shareholder funds |
|
740,428 |
681,479 |
|
|
--------- |
--------- |
|
|
|
|
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
28 January 2025
, and are signed on behalf of the board by:
Company registration number:
02666628
Notes to the Financial Statements |
|
Year ended 30 April 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 Cawdor Garage, New Road, Newcastle Emlyn, Carmarthenshire, SA38 9BA.
The principal activity of the company during the year was the contract leasing and financing of motor vehicles.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Cawdor Cars (Newcastle Emlyn) Limited that can be obtained from Cawdor Garage, New Road, Newcastle Emlyn, Carmarthenshire, SA38 9BA.
As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents interest charged on hire purchase contracts, personal and commercial loans.
Taxation
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
490 |
– |
Other debtors |
716,377 |
889,080 |
|
--------- |
--------- |
|
716,867 |
889,080 |
|
--------- |
--------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
– |
5,621 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
478,364 |
478,364 |
Corporation tax |
19,650 |
13,352 |
Other creditors |
– |
799 |
|
--------- |
--------- |
|
498,014 |
498,136 |
|
--------- |
--------- |
|
|
|
6.
Summary audit opinion
The auditor's report dated
30 January 2025
was
unqualified
.
The senior statutory auditor was
Mr Matthew Clements
, for and on behalf of
Clements Jones
.
7.
Related party transactions
The Company is also exempt under the terms of paragraph 33.1A of FRS 102, related party disclosures, from disclosing related party transactions with entities that are wholly part of the Cawdor Cars (Newcastle Emlyn) Limited group.
8.
Controlling party
The director considers that the ultimate parent undertaking of this company is
Cawdor Cars (Newcastle Emlyn) Limited
, a company incorporated in England and Wales. The company prepares consolidated accounts. Their address is Cawdor Garage, New Road, Newcastle Emlyn, Carmarthenshire SA38 9BA
. The ultimate holding party is Mr D K L Davies
who owns 100% of the issued share capital in Cawdor Cars (Newcastle Emlyn) Limited.