2023-12-092024-12-312024-12-31false15340504CHANCE CARS 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CHANCE CARS LTD

Registered Number
15340504
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2024

CHANCE CARS LTD
Company Information
for the period from 9 December 2023 to 31 December 2024

Director

KARJUN, Harun Rashid

Registered Address

42 Ridgeway Court Ridgeway Road
Redhill
RH1 6PG

Registered Number

15340504 (England and Wales)
CHANCE CARS LTD
Statement of Financial Position
31 December 2024

Notes

2024

£

£

Fixed assets
Tangible assets333,856
33,856
Current assets
Cash at bank and on hand2,188
2,188
Creditors amounts falling due within one year4(26,495)
Net current assets (liabilities)(24,307)
Total assets less current liabilities9,549
Net assets9,549
Capital and reserves
Called up share capital100
Profit and loss account9,449
Shareholders' funds9,549
The financial statements were approved and authorised for issue by the Director on 6 March 2025, and are signed on its behalf by:
KARJUN, Harun Rashid
Director
Registered Company No. 15340504
CHANCE CARS LTD
Notes to the Financial Statements
for the period ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year0
3.Tangible fixed assets

Total

£
Cost or valuation
Additions42,298
At 31 December 2442,298
Depreciation and impairment
Charge for year8,442
At 31 December 248,442
Net book value
At 31 December 2433,856
At 08 December 23-
4.Creditors: amounts due within one year

2024

£
Taxation and social security1,291
Other creditors24,238
Accrued liabilities and deferred income966
Total26,495
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
KARJUN, Harun Rashid0(32,995)(57,233)24,238
0(32,995)(57,233)24,238
The above loan is unsecured, interest free an repayable on demand. The amount was repaid within 9 months of the year end.
6.Share capital
Allotted, Called up and fully paid £100
7.Controlling party
The company's ultimate controlling Party is Mr Harun Rashid Karjun, by virtue of his ownership of 100% of the issued share capital of the company.