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Registered number: 13325949
Cars 4 UK Ltd
Director's Report and
Unaudited Abridged Financial Statements
For The Year Ended 30 April 2024
Light Work Accounting Ltd
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Abridged Profit and Loss Account 4
Abridged Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Abridged Financial Statements 8—9
Page 1
Company Information
Director Mr J Atwal
Company Number 13325949
Registered Office Cars 4 Uk Unit 1a Andes Road
Nursling Industrial Estate
Southampton
Hampshire
SO16 0YZ
Accountants Light Work Accounting Ltd
Office B
Chesil House
Arrow Close
Eastleigh
SO50 4SY
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 30 April 2024.
Principal Activity
The company's principal activity continues to be that of the sale of used cars and light motor vehicles.
Directors
The director who held office during the year were as follows:
Mr J Atwal
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr J Atwal
Director
15/07/2024
Page 2
Page 3
Accountant's Report
Report of the Accountant to the director of Cars 4 UK Ltd
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 April 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
15/07/2024
Light Work Accounting Ltd
Office B
Chesil House
Arrow Close
Eastleigh
SO50 4SY
Page 3
Page 4
Abridged Profit and Loss Account
2024 2023
Notes £ £
GROSS PROFIT 210,572 181,625
Administrative expenses (216,215 ) (189,682 )
OPERATING LOSS (5,643 ) (8,057 )
Other interest receivable and similar income 14 -
LOSS FOR THE FINANCIAL YEAR (5,629 ) (8,057 )
The notes on pages 8 to 9 form part of these financial statements.
Page 4
Page 5
Abridged Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 52,000 56,000
52,000 56,000
CURRENT ASSETS
Stocks 232,649 164,943
Debtors 16,974 -
Cash at bank and in hand 37,814 117,373
287,437 282,316
Creditors: Amounts Falling Due Within One Year (269,724 ) (262,974 )
NET CURRENT ASSETS (LIABILITIES) 17,713 19,342
TOTAL ASSETS LESS CURRENT LIABILITIES 69,713 75,342
NET ASSETS 69,713 75,342
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account 69,703 75,332
SHAREHOLDERS' FUNDS 69,713 75,342
Page 5
Page 6
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr J Atwal
Director
15/07/2024
The notes on pages 8 to 9 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 10 83,389 83,399
Loss for the year and total comprehensive income - (8,057 ) (8,057)
As at 30 April 2023 and 1 May 2023 10 75,332 75,342
Loss for the year and total comprehensive income - (5,629 ) (5,629)
As at 30 April 2024 10 69,703 69,713
Page 7
Page 8
Notes to the Abridged Financial Statements
1. General Information
Cars 4 UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13325949 . The registered office is Cars 4 Uk Unit 1a Andes Road, Nursling Industrial Estate, Southampton, Hampshire, SO16 0YZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% Straight Line
Fixtures & Fittings 5% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Total
£
Cost
As at 1 May 2023 64,000
As at 30 April 2024 64,000
Depreciation
As at 1 May 2023 8,000
Provided during the period 4,000
As at 30 April 2024 12,000
Net Book Value
As at 30 April 2024 52,000
As at 1 May 2023 56,000
Page 8
Page 9
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 9