Company Registration No. 12261935 (England and Wales)
Locar Limited
Unaudited accounts
for the year ended 31 October 2024
Locar Limited
Unaudited accounts
Contents
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
Locar Limited
Statement of financial position
as at 31 October 2024
Tangible assets
2,608,800
2,035,222
Cash at bank and in hand
63,126
63,789
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
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
Locar Limited
Notes to the Accounts
for the year ended 31 October 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
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Tangible fixed assets
Motor vehicles
Cost or valuation
At valuation
At 1 November 2023
2,526,873
At 31 October 2024
3,418,057
At 1 November 2023
491,651
Charge for the year
439,789
At 31 October 2024
809,257
At 31 October 2024
2,608,800
At 31 October 2023
2,035,222
Locar Limited
Notes to the Accounts
for the year ended 31 October 2024
Amounts falling due within one year
Trade debtors
29,235
11,061
Amounts falling due after more than one year
Other debtors
78,279
346,839
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
13,611
Obligations under finance leases and hire purchase contracts
872,008
510,442
Taxes and social security
105
639
Loans from directors
34,105
166,872
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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
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Average number of employees
During the year the average number of employees was 3 (2023: 3).