Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-3013trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity13truefalse 07279953 2023-07-01 2024-06-30 07279953 2022-07-01 2023-06-30 07279953 2024-06-30 07279953 2023-06-30 07279953 c:Director1 2023-07-01 2024-06-30 07279953 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 07279953 d:Buildings d:LongLeaseholdAssets 2024-06-30 07279953 d:Buildings d:LongLeaseholdAssets 2023-06-30 07279953 d:PlantMachinery 2023-07-01 2024-06-30 07279953 d:PlantMachinery 2024-06-30 07279953 d:PlantMachinery 2023-06-30 07279953 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07279953 d:MotorVehicles 2023-07-01 2024-06-30 07279953 d:MotorVehicles 2024-06-30 07279953 d:MotorVehicles 2023-06-30 07279953 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07279953 d:FurnitureFittings 2023-07-01 2024-06-30 07279953 d:FurnitureFittings 2024-06-30 07279953 d:FurnitureFittings 2023-06-30 07279953 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07279953 d:OfficeEquipment 2023-07-01 2024-06-30 07279953 d:OfficeEquipment 2024-06-30 07279953 d:OfficeEquipment 2023-06-30 07279953 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07279953 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07279953 d:CurrentFinancialInstruments 2024-06-30 07279953 d:CurrentFinancialInstruments 2023-06-30 07279953 d:Non-currentFinancialInstruments 2024-06-30 07279953 d:Non-currentFinancialInstruments 2023-06-30 07279953 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07279953 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07279953 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 07279953 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07279953 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 07279953 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 07279953 d:ShareCapital 2024-06-30 07279953 d:ShareCapital 2023-06-30 07279953 d:RetainedEarningsAccumulatedLosses 2024-06-30 07279953 d:RetainedEarningsAccumulatedLosses 2023-06-30 07279953 c:OrdinaryShareClass1 2023-07-01 2024-06-30 07279953 c:OrdinaryShareClass1 2024-06-30 07279953 c:OrdinaryShareClass1 2023-06-30 07279953 c:OrdinaryShareClass2 2023-07-01 2024-06-30 07279953 c:OrdinaryShareClass2 2024-06-30 07279953 c:OrdinaryShareClass2 2023-06-30 07279953 c:OrdinaryShareClass3 2023-07-01 2024-06-30 07279953 c:OrdinaryShareClass3 2024-06-30 07279953 c:OrdinaryShareClass3 2023-06-30 07279953 c:OrdinaryShareClass4 2023-07-01 2024-06-30 07279953 c:OrdinaryShareClass4 2024-06-30 07279953 c:OrdinaryShareClass4 2023-06-30 07279953 c:FRS102 2023-07-01 2024-06-30 07279953 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07279953 c:FullAccounts 2023-07-01 2024-06-30 07279953 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07279953 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 07279953 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 07279953 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 07279953 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 07279953 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07279953 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07279953 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 07279953 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 07279953 2 2023-07-01 2024-06-30 07279953 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07279953










THE CAR AGENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
THE CAR AGENTS LIMITED
REGISTERED NUMBER: 07279953

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,964
68,186

  
75,964
68,186

Current assets
  

Stocks
  
215,909
479,591

Debtors: amounts falling due within one year
 5 
24,960
34,084

Cash at bank and in hand
  
97,575
149,859

  
338,444
663,534

Creditors: amounts falling due within one year
 6 
(375,560)
(605,215)

Net current (liabilities)/assets
  
 
 
(37,116)
 
 
58,319

Total assets less current liabilities
  
38,848
126,505

Creditors: amounts falling due after more than one year
 7 
(24,608)
(85,664)

Provisions for liabilities
  

Deferred tax
 10 
(13,433)
(11,662)

  
 
 
(13,433)
 
 
(11,662)

Net assets
  
807
29,179


Capital and reserves
  

Called up share capital 
 11 
21
21

Profit and loss account
  
786
29,158

  
807
29,179


Page 1

 
THE CAR AGENTS LIMITED
REGISTERED NUMBER: 07279953
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 on 12 March 2025.




S A Michell
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.Accounting policies

 
1.1

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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

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.

 
1.3

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.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.Accounting policies (continued)

 
1.5

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.

 
1.6

Borrowing costs

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

 
1.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.Accounting policies (continued)

 
1.9

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, using the following methods.

Depreciation is provided on the following basis:

Long-term leasehold property
-
7% straight line
Plant and machinery
-
25% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% straight line
Office equipment
-
33% straight line

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.

 
1.10

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 reporting 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.

 
1.11

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.

 
1.12

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.

 
1.13

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

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.Accounting policies (continued)

 
1.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

The Company is a private company, limited by shares and registered in England and Wales.
Its registered number is: 07279953
The address of its registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 6

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Improvements to leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 July 2023
25,686
76,135
74,031
36,291
14,435


Additions
-
1,795
29,464
379
135


Disposals
-
-
(15,076)
-
(129)



At 30 June 2024

25,686
77,930
88,419
36,670
14,441



Depreciation


At 1 July 2023
16,434
65,281
38,756
25,895
12,026


Charge for the year on owned assets
1,798
5,701
-
2,213
1,204


Disposals
-
-
(2,115)
-
(11)



At 30 June 2024

18,232
70,982
36,641
28,108
13,219



Net book value



At 30 June 2024
7,454
6,948
51,778
8,562
1,222



At 30 June 2023
9,252
10,854
35,275
10,396
2,409
Page 7

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 July 2023
226,578


Additions
31,773


Disposals
(15,205)



At 30 June 2024

243,146



Depreciation


At 1 July 2023
158,392


Charge for the year on owned assets
10,916


Disposals
(2,126)



At 30 June 2024

167,182



Net book value



At 30 June 2024
75,964



At 30 June 2023
68,186


5.


Debtors

2024
2023
£
£


Trade debtors
1,004
11,426

Other debtors
2,271
-

Prepayments and accrued income
21,685
22,658

24,960
34,084


Page 8

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
28,646
38,807

Payments received on account
2,438
51,405

Trade creditors
87,991
164,308

Corporation tax
-
4,410

Other taxation and social security
34,949
35,198

Obligations under finance lease and hire purchase contracts
7,908
10,073

Other creditors
206,798
293,653

Accruals and deferred income
6,830
7,361

375,560
605,215



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
28,646

Net obligations under finance leases and hire purchase contracts
24,608
57,018

24,608
85,664


Page 9

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
28,646
38,807


28,646
38,807

Amounts falling due 1-2 years

Bank loans
-
28,646


-
28,646



28,646
67,453



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
7,908
13,097

Between 1-5 years
24,608
32,739

32,516
45,836

Page 10

 
THE CAR AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Deferred taxation




2024


£






At beginning of year
(11,662)


Charged to profit or loss
(1,771)



At end of year
(13,433)

2024
2023
£
£


Accelerated capital allowances
(11,662)
(12,847)

Tax losses carried forward
(1,771)
1,185

(13,433)
(11,662)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



18 (2023 - 18) Ordinary A shares of £1.00 each
18
18
1 (2023 - 1) Ordinary B share of £1.00
1
1
1 (2023 - 1) Ordinary C share of £1.00
1
1
1 (2023 - 1) Ordinary D share of £1.00
1
1

21

21



12.


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 £4,142 (2023: £3,740). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the reporting date and are included in creditors.

 
Page 11