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Company Registration No. 12261935 (England and Wales)
Locar Limited Unaudited accounts for the year ended 31 October 2024
Locar Limited Unaudited accounts Contents
Page
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Locar Limited Company Information for the year ended 31 October 2024
Directors
Adam Wheeler Chloe Wheeler
Company Number
12261935 (England and Wales)
Registered Office
62 The Enterprise Centre Cranborne Road Potters Bar Hertfordshire EN6 3DQ England
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Locar Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,608,800 
2,035,222 
Current assets
Debtors
107,514 
412,066 
Cash at bank and in hand
63,126 
63,789 
170,640 
475,855 
Creditors: amounts falling due within one year
(965,063)
(628,020)
Net current liabilities
(794,423)
(152,165)
Total assets less current liabilities
1,814,377 
1,883,057 
Creditors: amounts falling due after more than one year
(1,692,075)
(1,718,966)
Net assets
122,302 
164,091 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
122,202 
163,991 
Shareholders' funds
122,302 
164,091 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by
Adam Wheeler Director Company Registration No. 12261935
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Locar Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Locar Limited is a private company, limited by shares, registered in England and Wales, registration number 12261935. The registered office is 62 The Enterprise Centre, Cranborne Road, Potters Bar, Hertfordshire, EN6 3DQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25 RB
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At valuation 
At 1 November 2023
2,526,873 
Additions
418,899 
Revaluations
650,733 
Disposals
(178,448)
At 31 October 2024
3,418,057 
Depreciation
At 1 November 2023
491,651 
Charge for the year
439,789 
On disposals
(122,183)
At 31 October 2024
809,257 
Net book value
At 31 October 2024
2,608,800 
At 31 October 2023
2,035,222 
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Locar Limited Notes to the Accounts for the year ended 31 October 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
54,166 
Trade debtors
29,235 
11,061 
29,235 
65,227 
Amounts falling due after more than one year
Other debtors
78,279 
346,839 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
13,611 
VAT
9,827 
- 
Obligations under finance leases and hire purchase contracts
872,008 
510,442 
Trade creditors
24,369 
- 
Taxes and social security
105 
639 
Loans from directors
34,105 
166,872 
Accruals
24,649 
(63,544)
965,063 
628,020 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
1,243,575 
1,277,097 
Amounts owed to group undertakings and other participating interests
143,500 
441,869 
Deferred income
305,000 
- 
1,692,075 
1,718,966 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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