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REGISTERED NUMBER: 09655875 (England and Wales)











CALIFORNIAN CLASSICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


CALIFORNIAN CLASSICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTOR: P Morley





REGISTERED OFFICE: Unit 6 And 9 Bridge Way Industrial Estat
Bridge Way
St Leonard’s On Sea
East Sussex
TN38 8AP





REGISTERED NUMBER: 09655875 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,963 33,897

CURRENT ASSETS
Stocks 359,952 348,568
Debtors 5 41,935 44,764
Cash at bank 17,814 27,121
419,701 420,453
CREDITORS
Amounts falling due within one year 6 729,754 713,765
NET CURRENT LIABILITIES (310,053 ) (293,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(263,090

)

(259,415

)

CREDITORS
Amounts falling due after more than
one year

7

113,416

29,107
NET LIABILITIES (376,506 ) (288,522 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (376,507 ) (288,523 )
SHAREHOLDERS' FUNDS (376,506 ) (288,522 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

BALANCE SHEET - continued
30TH JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th March 2025 and were signed by:





P Morley - Director


CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Californian Classics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st July 2023 67,607 3,396 71,003
Additions 10,080 18,646 28,726
At 30th June 2024 77,687 22,042 99,729
DEPRECIATION
At 1st July 2023 35,142 1,964 37,106
Charge for year 10,641 5,019 15,660
At 30th June 2024 45,783 6,983 52,766
NET BOOK VALUE
At 30th June 2024 31,904 15,059 46,963
At 30th June 2023 32,465 1,432 33,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,935 11,842
Other debtors 39,000 32,922
41,935 44,764

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 65,438 161,171
Hire purchase contracts (see note 8) 2,107 -
Trade creditors 40,976 7,904
Amounts owed to group undertakings - 12,842
Taxation and social security 199,422 126,880
Other creditors 421,811 404,968
729,754 713,765

CALIFORNIAN CLASSICS LTD (REGISTERED NUMBER: 09655875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 109,527 29,107
Other loan 3,889 -
113,416 29,107

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,107 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,000 30,000
Between one and five years 117,000 144,000
In more than five years - 9,000
153,000 183,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Capitalise Business Support 122,420 136,500

The loan from Capital Business Support Limited, trading as Let's Do Business Finance Limited, is secured against all property or undertakings of the company.