Registered number
04424884
Castell Cars Limited
Filleted Accounts
31 July 2024
Castell Cars Limited
Registered number: 04424884
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 75,000 75,000
Tangible assets 4 67,850 54,541
142,850 129,541
Current assets
Debtors 5 45,128 56,983
Cash at bank and in hand 249,274 211,567
294,402 268,550
Creditors: amounts falling due within one year 6 (146,405) (196,210)
Net current assets 147,997 72,340
Total assets less current liabilities 290,847 201,881
Creditors: amounts falling due after more than one year 7 (15,301) (25,921)
Net assets 275,546 175,960
Capital and reserves
Called up share capital 2 2
Profit and loss account 275,544 175,958
Shareholders' funds 275,546 175,960
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A A Ismail
Director
Approved by the board on 24 March 2025
Castell Cars Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 75,000
At 31 July 2024 75,000
Amortisation
At 31 July 2024 -
Net book value
At 31 July 2024 75,000
At 31 July 2023 75,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 134,093 77,135 211,228
Additions 1,284 28,987 30,271
At 31 July 2024 135,377 106,122 241,499
Depreciation
At 1 August 2023 115,787 40,900 156,687
Charge for the year 3,918 13,044 16,962
At 31 July 2024 119,705 53,944 173,649
Net book value
At 31 July 2024 15,672 52,178 67,850
At 31 July 2023 18,306 36,235 54,541
5 Debtors 2024 2023
£ £
Trade debtors 45,128 56,983
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 63,996 43,152
Taxation and social security costs 75,951 95,047
Other creditors 6,458 58,011
146,405 196,210
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,301 25,921
8 Other information
Castell Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Poplar Road
Caerphilly
South Wales
CF83 1LF
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