Registered number
04831780
1st Stop Cars Limited
Filleted Accounts
30 June 2024
1st Stop Cars Limited
Registered number: 04831780
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 20,536 27,382
Current assets
Stocks 3,000 1,500
Debtors 4 76,434 42,765
Cash at bank and in hand 42,549 40,665
121,983 84,930
Creditors: amounts falling due within one year 5 (103,536) (61,733)
Net current assets 18,447 23,197
Total assets less current liabilities 38,983 50,579
Creditors: amounts falling due after more than one year 6 (34,364) (48,059)
Net assets 4,619 2,520
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,519 2,420
Shareholders' funds 4,619 2,520
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark John Dolden
Director
Approved by the board on 14 February 2025
1st Stop Cars Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 5,000 44,229 2,250 51,479
At 30 June 2024 5,000 44,229 2,250 51,479
Depreciation
At 1 July 2023 5,000 17,715 1,382 24,097
Charge for the year - 6,629 217 6,846
At 30 June 2024 5,000 24,344 1,599 30,943
Net book value
At 30 June 2024 - 19,885 651 20,536
At 30 June 2023 - 26,514 868 27,382
4 Debtors 2024 2023
£ £
Trade debtors 10,791 1,818
Other debtors 65,643 40,947
76,434 42,765
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,050 9,808
Hire purchase contracts 4,944 4,947
Trade creditors 30,050 2,465
Taxation and social security costs 10,275 9,648
Directors loan account 15,333 -
Other creditors 32,884 34,865
103,536 61,733
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,108 28,271
Hire purchase contracts 15,256 19,788
34,364 48,059
7 Other information
1st Stop Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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