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REGISTERED NUMBER: 03852194 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 October 2024

for

Hyde Park Cars (Plymouth) Limited

Hyde Park Cars (Plymouth) Limited (Registered number: 03852194)






Contents of the Financial Statements
For The Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Hyde Park Cars (Plymouth) Limited (Registered number: 03852194)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 433 5,746

CURRENT ASSETS
Stocks 49,907 182,500
Debtors 5 26,845 34,924
Cash at bank - 28,846
76,752 246,270
CREDITORS
Amounts falling due within one year 6 45,237 124,502
NET CURRENT ASSETS 31,515 121,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,948

127,514

CREDITORS
Amounts falling due after more than one
year

7

(28,428

)

(34,212

)

PROVISIONS FOR LIABILITIES - (824 )
NET ASSETS 3,520 92,478

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,420 92,378
SHAREHOLDERS' FUNDS 3,520 92,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 February 2025 and were signed by:




D J Nelson - Director


Hyde Park Cars (Plymouth) Limited (Registered number: 03852194)

Notes to the Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Hyde Park Cars (Plymouth) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03852194

Registered office: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery15% reducing balance
Motor vehicles25% reducing balance
Fixtures and fittings15% reducing balance
Office equipment15% reducing balance
Leasehold improvements10% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving , obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hyde Park Cars (Plymouth) Limited (Registered number: 03852194)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 68,762
Additions 400
Disposals (68,571 )
At 31 October 2024 591
DEPRECIATION
At 1 November 2023 63,016
Charge for year 131
Eliminated on disposal (62,989 )
At 31 October 2024 158
NET BOOK VALUE
At 31 October 2024 433
At 31 October 2023 5,746

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 22,460 19,108
Other debtors 4,385 15,816
26,845 34,924

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 8,388 5,641
Trade creditors 1,753 19,556
Taxation and social security - 9,815
Other creditors 35,096 89,490
45,237 124,502

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 28,428 34,212

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Between one and five years - 26,750