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Registered number: 11544590
Malvern Wedding Cars Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11544590
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,618 16,368
Tangible Assets 5 155,439 175,671
169,057 192,039
CURRENT ASSETS
Debtors 6 8,665 5,503
Cash at bank and in hand 11,739 17,172
20,404 22,675
Creditors: Amounts Falling Due Within One Year 7 (284,329 ) (274,157 )
NET CURRENT ASSETS (LIABILITIES) (263,925 ) (251,482 )
TOTAL ASSETS LESS CURRENT LIABILITIES (94,868 ) (59,443 )
NET LIABILITIES (94,868 ) (59,443 )
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account (95,068 ) (59,643 )
SHAREHOLDERS' FUNDS (94,868) (59,443)
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For the year ending 31 August 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.
On behalf of the board
Mr Timothy Buckley
Director
13/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Malvern Wedding Cars Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11544590 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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. 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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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 9 years.
2.4. 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%
Motor Vehicles 10%
Fixtures & Fittings 25%
Computer Equipment 25%
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 27,500
As at 31 August 2024 27,500
Amortisation
As at 1 September 2023 11,132
Provided during the period 2,750
As at 31 August 2024 13,882
Net Book Value
As at 31 August 2024 13,618
As at 1 September 2023 16,368
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 1,940 210,105 1,040 213,085
Additions - 800 - 800
As at 31 August 2024 1,940 210,905 1,040 213,885
Depreciation
As at 1 September 2023 1,918 34,456 1,040 37,414
Provided during the period - 21,010 - 21,010
Other 22 - - 22
As at 31 August 2024 1,940 55,466 1,040 58,446
Net Book Value
As at 31 August 2024 - 155,439 - 155,439
As at 1 September 2023 22 175,649 - 175,671
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 8,665 5,503
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 284,329 274,157
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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