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Registered number: 12411779
Cars-To-Go-UK Ltd
ABRIDGED Financial Statements
For The Year Ended 31 January 2024
Bailey Oster
Chartered Accountants
Mellor House
St Petersgate
Stockport
SK1 1DS
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 12411779
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,205 3,739
Tangible Assets 5 6,257 8,343
9,462 12,082
CURRENT ASSETS
Stocks 71,000 70,296
Debtors 61,681 68,290
Cash at bank and in hand 3,495 3,392
136,176 141,978
Creditors: Amounts Falling Due Within One Year (64,517 ) (77,486 )
NET CURRENT ASSETS (LIABILITIES) 71,659 64,492
TOTAL ASSETS LESS CURRENT LIABILITIES 81,121 76,574
Creditors: Amounts Falling Due After More Than One Year (36,100 ) (41,897 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (1,189 ) (1,585 )
NET ASSETS 43,832 33,092
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 43,831 33,091
SHAREHOLDERS' FUNDS 43,832 33,092
Page 1
Page 2
For the year ending 31 January 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Graham Heeley
Director
30 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Cars-To-Go-UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12411779 . The registered office is Cars To Go Uk Ltd Guide Bridge Industrial Estate, South Street, Ashton-Under-Lyne, OL7 0HU.
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. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that he will continue to provide financial support to the company for twelve months from the date of filing these financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Plant & Machinery 25% reducing balance
2.6. 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.
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2.7. Taxation
The tax expense represents the sum of the tax currently payable and any deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Total
£
Cost
As at 1 February 2023 5,341
As at 31 January 2024 5,341
Amortisation
As at 1 February 2023 1,602
Provided during the period 534
As at 31 January 2024 2,136
Net Book Value
As at 31 January 2024 3,205
As at 1 February 2023 3,739
5. Tangible Assets
Total
£
Cost
As at 1 February 2023 12,782
As at 31 January 2024 12,782
Depreciation
As at 1 February 2023 4,439
Provided during the period 2,086
As at 31 January 2024 6,525
...CONTINUED
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Net Book Value
As at 31 January 2024 6,257
As at 1 February 2023 8,343
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,189 1,585
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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