Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity88truetrue 03806254 2023-08-01 2024-07-31 03806254 2022-08-01 2023-07-31 03806254 2024-07-31 03806254 2023-07-31 03806254 c:Director1 2023-08-01 2024-07-31 03806254 d:PlantMachinery 2023-08-01 2024-07-31 03806254 d:PlantMachinery 2024-07-31 03806254 d:PlantMachinery 2023-07-31 03806254 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03806254 d:MotorVehicles 2023-08-01 2024-07-31 03806254 d:MotorVehicles 2024-07-31 03806254 d:MotorVehicles 2023-07-31 03806254 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03806254 d:FurnitureFittings 2023-08-01 2024-07-31 03806254 d:FurnitureFittings 2024-07-31 03806254 d:FurnitureFittings 2023-07-31 03806254 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03806254 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03806254 d:CurrentFinancialInstruments 2024-07-31 03806254 d:CurrentFinancialInstruments 2023-07-31 03806254 d:Non-currentFinancialInstruments 2024-07-31 03806254 d:Non-currentFinancialInstruments 2023-07-31 03806254 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03806254 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03806254 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 03806254 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 03806254 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 03806254 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 03806254 d:ShareCapital 2024-07-31 03806254 d:ShareCapital 2023-07-31 03806254 d:RetainedEarningsAccumulatedLosses 2024-07-31 03806254 d:RetainedEarningsAccumulatedLosses 2023-07-31 03806254 c:FRS102 2023-08-01 2024-07-31 03806254 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03806254 c:FullAccounts 2023-08-01 2024-07-31 03806254 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03806254 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 03806254









EDGWARE MOTORCARE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
EDGWARE MOTORCARE LIMITED
REGISTERED NUMBER: 03806254

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,289
38,208

  
44,289
38,208

Current assets
  

Stocks
  
162,961
170,784

Debtors: amounts falling due within one year
 5 
174,257
126,575

Cash at bank and in hand
 6 
246,879
217,700

  
584,097
515,059

Creditors: amounts falling due within one year
 7 
(265,597)
(281,418)

Net current assets
  
 
 
318,500
 
 
233,641

Total assets less current liabilities
  
362,789
271,849

Creditors: amounts falling due after more than one year
 8 
(21,639)
(31,633)

  

Net assets
  
341,150
240,216


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
341,050
240,116

  
341,150
240,216


Page 1

 
EDGWARE MOTORCARE LIMITED
REGISTERED NUMBER: 03806254
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R L Parker
Director

Date: 21 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Edgware Motorcare Limited is a private company limited by shares. The company is incorporated in England and Wale, and the address of its registered office is 42 - 44 Hassop Road, London, NW2 6RX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

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

Page 5

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
37,973
40,793
24,902
103,668


Additions
3,500
16,850
-
20,350


Disposals
-
(3,250)
-
(3,250)



At 31 July 2024

41,473
54,393
24,902
120,768



Depreciation


At 1 August 2023
34,174
11,377
19,911
65,462


Charge for the year on owned assets
1,007
11,252
749
13,008


Disposals
-
(1,991)
-
(1,991)



At 31 July 2024

35,181
20,638
20,660
76,479



Net book value



At 31 July 2024
6,292
33,755
4,242
44,289



At 31 July 2023
3,799
29,417
4,991
38,207


5.


Debtors

2024
2023
£
£


Trade debtors
157,430
109,594

Other debtors
6,805
6,805

Prepayments and accrued income
10,022
10,176

174,257
126,575


Page 7

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
246,879
217,700

246,879
217,700



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
72,488
117,693

Corporation tax
58,709
44,695

Other taxation and social security
21,405
25,213

Other creditors
51,871
23,884

Accruals and deferred income
61,124
69,933

265,597
281,418



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
21,639
31,633

21,639
31,633


Page 8

 
EDGWARE MOTORCARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
21,639
31,633


21,639
31,633



21,639
31,633



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,192 (2023 - £2,459) . 

Page 9