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BUCKLEY CARS LIMITED

Unaudited Financial Statements

for the Year Ended 31st August 2024






BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)






Contents of the Financial Statements
for the year ended 31st August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUCKLEY CARS LIMITED

Company Information
for the year ended 31st August 2024







DIRECTORS: B Williams
Mrs J Williams





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 10331445 (England and Wales)






BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Balance Sheet
31st August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,156 86,495

CURRENT ASSETS
Debtors 5 794 1,633
Cash at bank and in hand 19,708 26,970
20,502 28,603
CREDITORS
Amounts falling due within one year 6 38,189 21,478
NET CURRENT (LIABILITIES)/ASSETS (17,687 ) 7,125
TOTAL ASSETS LESS CURRENT LIABILITIES 76,469 93,620

CREDITORS
Amounts falling due after more than one
year

7

(34,430

)

(48,858

)

PROVISIONS FOR LIABILITIES (6,941 ) (8,797 )
NET ASSETS 35,098 35,965

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 35,096 35,963
SHAREHOLDERS' FUNDS 35,098 35,965

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

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

The directors acknowledge their 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.

BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Balance Sheet - continued
31st August 2024


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 Board of Directors and authorised for issue on 11th March 2025 and were signed on its behalf by:





B Williams - Director


BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Notes to the Financial Statements
for the year ended 31st August 2024

1. STATUTORY INFORMATION

Buckley Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

The useful lives of property, plant and equipment which are estimated based on the period over which the assets are expected to be available for use. The estimated useful lives are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of the relevant assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
Debtors, creditors, directors loan (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st September 2023 34,147 26,932 5,116
Additions - 349 3,319
Disposals - - -
At 31st August 2024 34,147 27,281 8,435
DEPRECIATION
At 1st September 2023 - 8,916 3,461
Charge for year - 2,755 1,243
Eliminated on disposal - - -
At 31st August 2024 - 11,671 4,704
NET BOOK VALUE
At 31st August 2024 34,147 15,610 3,731
At 31st August 2023 34,147 18,016 1,655

BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st September 2023 94,350 3,223 163,768
Additions 24,416 84 28,168
Disposals (5,250 ) - (5,250 )
At 31st August 2024 113,516 3,307 186,686
DEPRECIATION
At 1st September 2023 63,695 1,201 77,273
Charge for year 13,030 526 17,554
Eliminated on disposal (2,297 ) - (2,297 )
At 31st August 2024 74,428 1,727 92,530
NET BOOK VALUE
At 31st August 2024 39,088 1,580 94,156
At 31st August 2023 30,655 2,022 86,495

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 794 1,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,190 -
Trade creditors 2,261 1,089
Taxation and social security 26,274 18,469
Other creditors 2,464 1,920
38,189 21,478

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 34,430 48,858

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 48,858

BUCKLEY CARS LIMITED (REGISTERED NUMBER: 10331445)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

9. RESERVES
Retained
earnings
£   

At 1st September 2023 35,963
Profit for the year 38,133
Dividends (39,000 )
At 31st August 2024 35,096

10. RELATED PARTY DISCLOSURES

The charge for Rent in the accounts totalling £10,000 was paid to the directors Mr B Williams and Mrs J Williams.