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Registration number: 00654576

Harwell Car Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Harwell Car Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Harwell Car Services Limited

(Registration number: 00654576)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

281,338

Current assets

 

Cash at bank and in hand

 

251,012

8,429

Creditors: Amounts falling due within one year

6

(72,529)

(38,438)

Net current assets/(liabilities)

 

178,483

(30,009)

Total assets less current liabilities

 

178,483

251,329

Creditors: Amounts falling due after more than one year

6

-

(600)

Provisions for liabilities

-

(55,625)

Net assets

 

178,483

195,104

Capital and reserves

 

Called up share capital

7

6,020

6,020

Revaluation reserve

-

166,875

Retained earnings

172,463

22,209

Shareholders' funds

 

178,483

195,104

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 February 2025 and signed on its behalf by:
 

.........................................
Mr L F J Mulford
Director

 

Harwell Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH

The principal place of business is:
Buskins
Reading Road
Harwell
Oxon
OX11 OLW

These financial statements were authorised for issue by the Board on 7 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Directors have made the decision to liquidate the company. Therefore, the going concern basis is no longer conisdered appropriate, as a result, the accounts have been produced on a basis other than going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Harwell Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

-

Plant and machinery

20% reducing balance

Furniture and fittings

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Harwell Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

280,000

37,052

317,052

Disposals

(280,000)

(37,052)

(317,052)

At 30 November 2024

-

-

-

Depreciation

At 1 December 2023

-

35,714

35,714

Eliminated on disposal

-

(35,714)

(35,714)

At 30 November 2024

-

-

-

Carrying amount

At 30 November 2024

-

-

-

At 30 November 2023

280,000

1,338

281,338

Included within the net book value of land and buildings above is £Nil (2023 - £280,000) in respect of freehold land and buildings.
 

 

Harwell Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Debtors

2024
£

2023
£

-

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

600

-

Taxation and social security

 

31,403

828

Accruals and deferred income

 

2,340

1,633

Other creditors

 

38,186

35,977

 

72,529

38,438

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

600

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Preference shares of £1 each

600

600

600

600

Ordinary shares of £1 each

6,020

6,020

6,020

6,020

6,620

6,620

6,620

6,620

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Harwell Car Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on revaluation of other assets

(166,875)

-

(166,875)

Out of balance to Other comprehensive income category

-

(166,875)

(166,875)